Hi, I've recently volunteered to help a small local charity with their accounts. The charity is now of a size where it's just a little more complicated than you would want for excel. There are a variety of cash accounts including bank accounts, paypal accounts and some charity collection websites. I think it would be really useful to also be able to run KPIs with the data we have. I use Xero and Sage at work, but I was wondering if anyone could recommend something for a similar role they may have undertaken - possibly with more of a charity focus. Obviously cost is a big consideration. I don't need it to produce the financial statements, but if this was a feature, it would be a bonus. Thanks
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I would start be pruning the various accounts - charities have a habit of running more accounts than they really need (because they get free banking!)
I'm the Treasurer of a decent sized charity (£2m income) which has lots of restricted funds to deal with and they've just moved to Xero. I wasn't so sure about the move, but the Finance Manager persuaded me and she's getting on well with it.
See if you get a discount with whomever yo9u choose. Certainly SAGE used to give money off (30%? I cant quite remember)
What is the revenue of the charity?
As you and others have identified, the package is less important than the controls, processing and reporting processes in place.
Simple things like making sure the staff aren's sharing the same login, there are regular bank reconciliations, things get approved & coded consistently, month end close, balance sheet recs, are all necessary if KPIs are going to make any sense.
If you have a decent chart of accounts and can trust the numbers in the TB, then 90% of the work is done, whatever the package is...
For me without a shadow of a doubt its QuickBooks, either desktop or possibly online. I do not know if there are many types of funds in the charity but QB can deal with these easily through use of classes
Depending on the details, VT might be suitable. You can have as many "bank accounts" as you like, and departments to separate different funds and fundraising efforts.
I've managed quite well with Xero, using tracking categories for funds and charitable activities.
You may want to lean towards a cloud product given that I assume you don't work full time for the charity.
Like you I am a trustee who had to take on the bookkeeping. Currently using sage on an old laptop. Cannot go to the office coz covid. Plus hassle.
Am thinking of moving to Xero post year end.
Plus we're paying ££££ to sage.
Hi
Liberty Accounts cloud accounting and payroll software addresses the recording and reporting requirement of charities.
Above our standard commercial features we deliver:
Fund accounting (restricted, unrestricted etc);
Handling Fund transfers;
Additional cost centre analysis (Activity);
Account terminology as used in the sector;
Integrated donor ledger;
Gift Aid claim preparation and online filing;
Budgeting by organisation or Fund and/or Activity;
Reporting of SORP compliant SoFA (I&E or R&P);
and, for the Anglican church
Handling of Parochial Fees
Reporting the Return of Parish Finance.
All of the above is offered from a concessionary price of only £12.95/month (+VAT).
Please feel free to trial the software and see the benefits over software designed only with commercial business in mind.
Neil
