Specialist Charity Accountants
Here at Hartley Fowler, we recognise that the accounting needs of charities and not-for-profit (NFP) organisations are distinctively different from those of businesses. We have a dedicated team of charity accountants who understand the Charity Commission’s regulations, as well as the challenges your organisation faces.
Trusted Charity Accountants in Brighton
We are pleased to offer a range of charity accounting services, including:
Recent times have seen the introduction of a compliance regulator, leading to new rules on internal controls, asset management and taxation. Our team of specialist charity accountants understand the sector very well. We know how charities and NFPs work and we see the ‘bigger picture’ when it comes to offering the most appropriate, professional advice.
Accounting For a Non-Profit Organisation
Our charity accountants have the skills and experience required to support you in these challenging, changing times. We are here, not only to ensure compliance but to free up your time to focus on your core objectives.
As experienced charity accountants, we can offer expert advice on all your statutory reporting needs. We can also provide valuable guidance on your taxable status and deal with all taxation compliance issues.
We can ensure that your accounts are prepared and submitted in a timely fashion, and that they meet all the necessary reporting requirements.
Reliable Charity Accounting Services
As a charity or NFP, funding is paramount. We are here to help your organisation maintain and demonstrate strong financial controls, as well as robust management of assets and taxation issues. This essential work will be the foundation that enables you to direct and maximise the talents of your staff to raise much-needed resources for your cause.
Next Steps: make an appointment with our charity accountants
To discuss our charity accounting services in Brighton, please Contact us. Alternatively, arrange a free initial consultation with one of our specialist accountants for charities and NFPs.
FAQs
A charity accountant specialises in the unique financial and regulatory requirements of charitable organisations. They are able to navigate complex charity laws, ensuring compliance and effective financial management.
Nonprofit accounting refers to the way in which the financial transactions of nonprofit organisations are planned for, recorded and reported. It includes reviewing accounts, understanding the purpose behind decisions, preparing reports, preparing for audits and more
In short, charities deal with other people’s money, given voluntarily to provide support to others. On the other hand, businesses build income for themselves. Unlike companies, charities are not run to make a profit, therefore accounting processes are slightly different
A charity with an income below £25,000 is not required to undergo a statutory audit. However, they may still need to have an independent examination of their accounts. Small charities with an income between £25,000 and £1 million may be subject to a simplified or partial audit or an independent examination, depending on their structure.
A type of accounting used by charities, fund accounting focuses on accountability. Creating accounts using the principles of fund accounting makes it possible for organisations to ensure money is being spent on the purpose it was given.
Fund accounting must match the source of funds with their acceptable, intended or legally permitted uses. This differs from business accounting, with businesses being free to use their profits in any way they choose to meet objectives.
Charities in the UK are required to adhere to specific accounting standards to ensure transparency and accountability. They must prepare annual financial statements that include an income expenditure account, balance sheet and a cash flow statement. Charities may also need to produce additional reports based on their size and complexity.
Yes, QuickBooks can help you easily manage your nonprofit’s finances. From keeping track of revenue and expenses to maintaining donor records and program specific budgets, QuickBooks is a suitable tool for organisations of a range of types and sizes. Find out more about our cloud based accounting services here.
Charities that meet the following criteria must carry out an audit:
1. Charities with an income of £25,0000 or more must undergo an independent examination.
2. Charities with an income of £1,000,000 or more must have an external audit.
3. Charities with assets above £3,260,000 and an income exceeding £250,000 must have an external audit.