If asked to dig a hole, most of us would ask for a spade—it’s all about choosing the right tool for the job. However, when many people are required to report charity financial records, they tend to reach for completely unsuitable tools—such as commercial software or Excel spreadsheets.
This is a shame because using the right tools for the job would save them time, and money, and allow them to concentrate on the valuable service that they provide to their communities.
If this sounds familiar, you will find this article to be of interest.
The desire to make the world a better place is a powerful human sentiment and the touchstone of all not-for-profit organisations. While many recognise the important work carried out daily by those working in the sector, Liberty Accounts also understands the rigorous operational demands that are placed upon them.
Charities face the same regulatory pressures as commercial organisations but, in addition, must also deal with complex sector-specific reporting requirements intended to demonstrate good stewardship to supporters and regulators alike.
With that in mind, Liberty Accounts sets out to make your financial recording and reporting as simple an exercise as possible – and not one that is seen as a burden to those tasked with the role!
Unlike commercial software, Liberty Accounts has a uniquely integrated set of tools that deal with these core compliance issues for UK charities including: fund accounting; payroll; VAT; donor ledger; Gift Aid claims (including GASDS); budgeting; reporting of the Statement of Financial Activities (SoFA) and, for the Anglican church, Return of Parish Finance.
This means that you no longer have to deal with terminology used in the commercial sector and have to implement workarounds to generate your required reporting! Liberty Accounts makes your whole process straightforward using terms that you will be familiar with, and reporting your charity specific reports at the click of a button.
Online filing for payroll (RTI), VAT, and Gift Aid claims means that you can not only be confident that you are meeting online filing requirements but improve your cashflow with regular processing of your Gift Aid claims.
As a business, Liberty Accounts is committed to prioritising the needs of the sector and will continue to deliver tools to make it easier in dealing with your financial records and reporting.
If this all sound too good to be true there’s more. For charities operating at under £250,000 income, software is provided—for an unlimited number of users—from only £12.95 a month (+VAT). There is also a Not-for-Profit Support Scheme allowing you the potential to operate for free.