All charities, whether registered with the Charity Commission or not, must prepare accounts and make them available on request.
The accounts can be prepared as receipts and payments accounts (if you are an unincorporated charity with gross income of less than £250,000 during the financial year) or as accruals accounts (if you are an incorporated charity, or an unincorporated charity with gross income of more than £250,000 during the financial year).
Charitable Incorporated Organisations (CIOs) may prepare receipts and payments accounts if their gross income is less than £250,000 or must prepare accruals accounts if not.
Community Interest Companies (CICs) must prepare accounts in the same way as a company, reporting to Companies House with the additional annual requirement of a “community interest company report”.
We recognise the importance of preparing accounts in the most efficient and effective way for your organisation and are happy to consider whether your current method remains the most appropriate.
We can also advise on options for cloud accounting software. We can recommend products which might best suit your organisation and help you to set up new systems, together with delivering training and subsequent support.