It’s no easy task running a charity or not-for-profit. For starters, there are no guarantees as to where the next pay cheque is going to come from. Your time is strained between the day-to-day affairs of running the business, making sure your team is happy and able to continue their great work. It’s no surprise that despite the great stuff you’re doing, the odds can still feel stacked against you.
At Glen C Rodger, we offer dedicated charity accounting services to support charities and not-for-profit organisations. Our charity accountants provide specialist accounting support on all aspects of charity accounting, from tax and VAT review to bookkeeping, allowing you to focus on your core work and achieve your mission.
In addition to our charity accounting services, we also provide a range of advisory and accountancy services for charities and other not-for-profit organisations, helping you to meet the challenges and complexities of the charity sector and manage your financial outcomes, risk management, and stakeholders.
We don’t just want to provide you with accounting services; we want you to make informed decisions about your charity’s finances and how you can grow, develop, and become sustainable. Our proactive charity team are dedicated to providing you with a tailored solution and effective advice to help you make informed decisions about your financial situation and how you can grow, develop, and become sustainable through strategic planning.
Our range of financial services are delivered with the same care and attention, no matter where you come from, or what you do. It’s about relationships – not numbers on a page.
At Glen C Rodger we put people and the spirit of adventure at the heart of everything we do. We can open your eyes to a world of possibilities, looking at your business in a new and exciting light.
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Charity accounting requires specialist knowledge of the regulatory requirements and financial reporting standards that apply to the not-for-profit sector. Charity accounting is underpinned by the principles of transparency, accountability, and good governance and ensures that charitable organisations manage their resources effectively.
Our specialist charity accountants can offer a range of services to help charities with compliance, governance, independent examinations, and audit so that they can focus on their core work and benefit their communities.
There are a number of principles that charity accounting is based on, including the Charities SORP (Statement of Recommended Practice), which ensures that financial reporting is consistent and transparent.
Some of the key principles include:
Charities are required to prepare annual accounts which give a true and fair view of their financial position. The accounts should clearly show the way in which resources have been used to deliver the charity’s objectives and provide value for money to members, funders, and stakeholders.
Charity accountants specialising in this area can assist charities in fulfilling their regulatory obligations and maintaining good financial management practices. Some of their responsibilities include:
Accountants can help charity trustees and chief executives with their governance duties by providing the accurate financial information on which they base their decisions.
They must stay up-to-date with charity-specific accounting standards and rules, as well as the UK’s general accounting standards and rules. Their extensive experience and expertise are vital in helping charities to maintain the public’s trust, comply with Charity Commission requirements, and run efficiently.
Effective governance and compliance are key parts of keeping public trust and ensuring that charities fulfil their legal obligations. Proper compliance with regulatory requirements also ensures transparency, accountability, and ethics.
Third sector organisations, such as charities, community interest companies, and social enterprises, also face these challenges and require specialised charity services and accounting expertise to navigate compliance and governance effectively.
Charity accountants can help organisations meet Charity Commission requirements which include:
The Commission expects trustees to act sensibly and prudently in managing the resources of the charity and to act in the best interests of the charity. Accountants play an important role in helping trustees with their financial responsibilities by providing appropriate professional advice and guidance to help them make informed decisions and exercise proper oversight.
A charity’s governing document is the document which sets out its purpose and how the charity should operate. Key areas include:
Accountants help ensure that financial activity complies with the governing document and advise on permitted activity, alerting the charity to the potential for a breach and helping to maintain legal status and reputation.
The Charities Act sets out the legal framework for charities in England and Wales. Some of the most important areas of compliance are:
Accountants can help charities comply with these regulations. They ensure financial systems meet legal requirements and offer advice on best practice in terms of transparency and accountability.
Get in touch with one of our charity team today to find out how we can help your charity with cost effective, professional accountancy services and a free consultation.