Set Sage
How to Set Up as a Charity Bookkeeper Part 1
What qualities do you need to be a Charity Bookkeeper?
Personally, I feel that you have to be someone who is sympathetic to the particular area that your particular group works, and have an understanding of the aims and objectives of the group. . You have to be able to explain Accounting information in a simplistic but informative way to your clients. You also have to go an extra mile – for example, some client’s, I will attend some meetings without charging extra!
Do you need to specialise in a particular group?
There are various types of Charities, and you may want to consider being a Specialist Bookkeeper in that area. For example one of the Accountant’s I did some work for specialised in Housing Associations, a friend of mine specialises in Bookkeeping for Community centres.
What are some of the skills you need?
Background Knowledge you may require depending on the group you are working with:
An understanding of how Charities/Community groups are set up and governed.
- Understanding of Fund Accounting.
- Understanding of the Charities Accounting – SORP and SOFA.
- Understanding of the different ways groups generate income e.g. Funding, Service Level Agreements, Contracts, Donations , Trading etc
- Gift Aid, Charities VAT and Taxation.
- Useful to know Excel, Sage, Quick Books, MYOB, TAS, Sun Accounts (these are the ones most of the groups I have come across use)
Some of the tasks you may have to do:
The tasks you may have to do vary from group to group; what I have tried to do is to just give you an idea of some of the tasks, it is advisable that you speak to the client’s first to assess their needs, and then come up with a plan to do the work.
Budgets
Prepare budgets for multiple projects over 3 year period or more
Help with financial information for Grant applications
Basic bookkeeping: (cash based charities)
Writing up a cash received book (Income book) and Writing up expenditure book (Expenses book)
Writing up and balance petty cash on the Imprest System
Preparing Receipts & Payment or Accruals Accounts – Income & Expenditure Account
Other Bookkeeping tasks
Maintain Sales Ledger and credit control (customers)/ Maintain Purchase Ledger (suppliers)
Maintain Fixed Asset Register/ Maintain Membership records
Keeping tract of Grants and Donations
Management Accounts
Prepare a report of Actual Income and Expenditure against Budget
Prepare Variance Report and Cash Flow Forecasts
Prepare Financial Reports for Funders, and Management Committee members.
End of year
Independent Examination of Accounts.
Preparing Year End Accounts according to Statement of Recommended Practice (SORP) and Statement of Financial Activities (SOFA).
Liaising with Auditors. And treasurer
About the Author
Genny Jones is an an inspired entreprenur that runs 3 different businesses.
www.gennythetrainer.co.uk
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