How To Set Up As A Charity Bookkeeper Part 1
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 clients 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 Accountants 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 clients 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 amp; Payment or Accruals Accounts Income amp; 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 writer:nbsp;nbsp;Genny Jones is an an inspired entreprenur that runs 3 different businesses.
www.gennythetrainer.co.uk
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