Bookkeeping for charities is a specialist accountancy service offered by some of the larger accountancy firms. It is a full suite of accountancy services, which is tailored to the needs of charities.
The service offered is designed to replace the need for the charity concerned to have its own in house accountancy team. A good bookkeeping for charities service saves the charitable organisations, which use this type of service, a considerable amount of money and hassle.
What Makes A Bookkeeping for Charities Service Different
Keeping the books for charities is different from the accountancy services that for profit organisations need.
There are additional rules and regulations that govern charities. For example, in order to keep the status of being a charity you have to prove that you are a genuine not for profit organisation. The way in which your accounts are kept can make this either impossible or very easy to do.
Charities need to be able to claim back tax from people who have set up covenants or trusts with them. They also get left a lot of money by people which all has to be claimed for and accounted for. More and more people who live abroad are leaving UK charities money in foreign currencies and foreign bank accounts complicating the process of claiming that money back and keeping an accurate account of that contribution.
These are just a few examples of how bookkeeping for charities is different from standard business bookkeeping and accounts. As a result of these differences if you are a charitable organisation it is vital that you find the right bookkeeping for charities service for your charity.
Finding a Good Bookkeeping for Charities Service
When looking for a bookkeeping for charities service provider it is important to find a firm that has experience at keeping the books for charities. Look for those firms that offer a flexible service. For example some firms will audit accounts done by in house accountancy volunteers. The best will provide support during times when your charity is short of volunteers qualified to do your accounts.
About the Author
Wilkins Kennedy provides a full bookkeeping for charities service. They have decades of experience of working with charitable organisations.
