How We Support Non Profit Organisations Like Yours
Non profit accounting involves an array of different tasks that are both unique to the non profit sector and not. Your financial challenges are not underestimated by us, and as nonprofit accounting professionals we can help you navigate your accounting needs to ensure you’re fully compliant, whilst offering strategic guidance and insight to support you moving forwards.
We can assist you in ensuring that your financial statements accurately reflect your organisation’s activities and provide the transparency necessary for funders, donors, and stakeholders. Our experienced accountants work closely with you to understand your organisation’s goals and challenges, helping you make informed financial decisions that align with your mission.
We are here to help, our Not for Profit accountancy services include:
- compliance with charity law and regulations
- gift aid claim preparation
- budgeting and financial planning
- financial analysis and reporting
- understanding and adhering to GAAP (generally accepted accounting principles) standards
- audit and independent examination
- financial statement preparation
- bookkeeping and record-keeping
- adherence with the financial accounting standards board
- support with using non profit accounting software
- understanding and managing restricted funds vs unrestricted funds
- and much more
If you need support with anything, from preparing your nonprofit accounting statements to understanding tax exempt status, we can help.
Reasons To Work With APH As A Non Profit Organisation
Nonprofit accounting focuses on accountability, because managing the funds of non profits is a huge responsibility that must be taken seriously. We can support you with those tasks as an accounting firm that specialises in offering bespoke services and client-specific advice to all sorts of clients, including your not for profit business, charity, or organisation.
When you’re handling important finances like charitable donations and membership fees, it’s always best to have an outside business like APH Accountants look over non profit businesses, their net assets, and fundraising expenses to ensure you are following nonprofit accounting best practices.
And there are plenty of reasons to trust APH with that important task:
Strategise With Accounting Support
We can help you develop strategies to manage cash flow, secure funding, and optimise your financial performance. Whether you need assistance with accounting software set-up, tax compliance, or grant applications, our team can provide you with the support and guidance you need to achieve your organisation’s goals.
Open, Honest Communicators
Transparency and accountability are essential requirements for running a successful nonprofit. We’ll provide you with the transparency you need to make informed decisions and demonstrate your organisation’s impact. We work closely with you to develop accurate and meaningful financial reports that provide insight into your organisation’s financial health and performance.
Support For All Those With A Nonprofit Status
Whether you are a small charity just starting out or a well-established Not for Profit organisation, our expert team have the knowledge and experience to support you.
Advice Tailored To You
In nonprofit accounting it’s important to look at each case individually to ensure that the advice given is particularly relevant to the circumstances in front of you. All of our accounting team know that the advice given to one organisation may look incredibly different to another, meaning you’ll always benefit from the advice that’s best for you.
No-Limit Support
When you work with us we’re available for advice, queries and questions during working hours with no limits. We don’t give you an allotted amount of phone calls you can make or amount of time we can dedicate to you before we stop helping. If you need support and a member of our team is available, we’ll offer whatever advice we can.
How Do I Start Working With APH Accountants?
If you manage non profit organisations and require our support, all we need to get started is a little information about you and the organisation(s) you manage:
- Personal information: Name, contact number, email address
- Non profit organisation information: Nonprofit organisation name, organisation type, number of paid employees, etc
- Tasks you need support with: Which areas you feel you could benefit from the most support in to give us a better idea of what we can help with
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We understand that people are busy, give us as much information as you can about your query below and one of our team will be in touch with next steps and some advice.
Accounting For Non Profit Organisations FAQs:
Our most common questions as accountants offering accountancy support to non profit organisations are answered below.
Non profit businesses and organisations often have less to do when putting their accounts together than a for profit business, but that doesn’t mean you have it easy.
As a minimum, nonprofit accounting tracks all funds received from contributions, events, investment income, and membership fees.
Keep these records to submit your annual accounts accurately, and ensure records of all work carried out are included in your trustees annual report.
If your non profit organisation earns more than £5000 per year, then it is your legal obligation to ensure you are registered with the Charity Commission in the UK.
Yes, there are. All non profit organisations and charities carry a tax exempt status, meaning they don’t pay corporation tax and the trustees don’t pay income tax.
In some circumstances you will have to pay tax if the organisation has used some of its income on ‘non-charitable expenditure’ or if some of the income received doesn’t actually qualify for typical tax relief.
Only if you have non-charitable expenditure or income that doesn’t qualify for tax relief. Otherwise, you will only need to file a return if HMRC asks you to, which won’t be often, but is certainly possible, so it’s always best to ensure you’re prepared for this should the need arise.
There isn’t a difference. Non profit accounting and fund accounting are the same thing, just under a different name.
Non profit accounting software can be incredibly helpful for those in charge of non profit accounts. When you work with us, we’ll show you how to access accounting software that will support you in your accounting tasks and show you your non profit financial picture at a glance.