Brought to you by
btcsoftware

BTCSoftware develops feature-rich and cost-effective products.

Share this content

How you can support your charity clients as an accountant

5th Jul 2022
Brought to you by
btcsoftware

BTCSoftware develops feature-rich and cost-effective products.

Share this content

Accountants who support charity clients understand that the challenges facing the sector at the moment are monumental. With costs of living increasing and inflation at its highest level since 1982 according to the ONS, charities need support from accountants who understand that easy routes to financial compliance and smart planning based on data go hand-in-hand.

A representation of the statistics that there are 168,000 registered charities in the UK, of which 161,000 are small charities. There are another 20,000 organisations with charitable status and an unknown number of charities below the registration thresho

 

Charity clients often have limited resources

There are around 168,000 charities registered with the Charity Commission in the UK. Of those, a massive 96% are small or micro charities, with income below £1m. There are a further 20,000 other organisations with charitable status such as schools and churches, plus an unknown number of charities with turnover below the registration threshold of £5,000 annual income.

All of this, plus the other challenges below,  indicate that accountants are well placed to support their charity clients when it comes to compliance with Charity Commission rules. From filing accounts for charitable companies to Companies House to preparing returns to reclaim VAT, your support is invaluable when resources are limited.

Be aware of other challenges facing charities in the UK

According to CAF, more than half (58%) of charity leaders say that generating income and achieving financial sustainability is one of their top 3 challenges.

Alongside their financial priorities, charities are also concerned with their role in society, with 91% agreeing that the sector will be expected to fill the gaps in public service provision. And on top of that, only 24% say they have the knowledge to raise funds online, which is a significant challenge for many since the shift to cashless transactions during the pandemic.

Your role as an accountant looking after charity clients

As an accountant, you have a wealth of knowledge that can support your charity clients. You can make a difference by taking the strain of compliance from them – you handle the deadlines and the paperwork. When charity clients come to you for their accounting work, you need to be able to help them using the right tools at the right price.

Using BTCSoftware means that you can easily stay on top of deadlines and process data efficiently and accurately using our powerful integrations and mapping, without breaking the bank. Take a look at our module and pricing page here.

See it in action

Get in touch on 0345 241 5030 or drop us a demo request online.