Charity Accounting services for Non profit organisation

Empower Your Cause with Expert Charity Accounting Services – GM Accountants Delivers Tailored Financial Solutions for Non-profits

GM Accountants Ltd, based in London, specializes in providing integrated financial management services tailored for small charities and social enterprises in the Greater London area.  our firm envisions being the preferred choice for small charity accounting and business advice, seamlessly connecting financial management, strategic governance, and operational aspects.

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Our unique approach to charity financial management involves identifying and enhancing existing strengths, ensuring that financial management aligns with the broader organizational goals to facilitate successful objective achievement.

Committed to supporting the small charity sector, GM Accountants exclusively collaborates with organizations with an annual income below £1.5 million, with a particular focus on those below £500,000.

What GM Accountants Brings to Your Charity or Social Enterprise:

  1. Specialism: Benefit from a qualified accountant specifically trained for the charity sector.
  2. Dedication: Our firm provides pro-bono support to selected small organizations, and the Director actively participates on the boards of several charities.
  3. Experience: With over a decade of experience working across various sectors, from international development to housing to legal services.

Key Services:

  1. Value-Added Charity Bookkeeping Services:
    • Establishing robust systems for seamless and integrated financial reports.
    • Error-free charity bookkeeping.
    • Integrated donor reports.
    • Tracking restricted funds, project costs, functional costs, and other relevant categories.
  2. Charity Accounting and Financial Management Services:
    • Jargon-free management accounting and information.
    • Financial planning, budgeting, and forecasting.
    • Statutory compliance, including preparation and filing of statutory accounts, dealing with HMRC, and liaising with auditors.
  3. Assurance and Governance Services:
    • Independent examinations.
    • Risk management and internal controls.

Choose GM Accountants for a dedicated, qualified, and experienced partner in advancing the financial well-being of your small charity or social enterprise.

What Does a Charity Accountant Do?

A charity accountant is responsible for managing financial records, preparing and interpreting statements, such as annual reports, and developing profit projections and cash-flow forecasts. They also formulate accounting and reporting policies, ensuring compliance with regulatory and legislative changes. The primary focus is on maintaining transparent financial documentation and staying updated on industry standards.


What is Charity Accounting?

Charity accounting pertains to the financial management of not-for-profit organizations. Unlike for-profit entities, charities lack shareholders expecting dividends. Consequently, any surplus funds are retained within the charity for operational use or reserved for future needs. This ensures that resources are directed towards the organization’s mission rather than distributed to individual owners.

 


How Does Charity Accounting Differ from Company Accounting?

While the fundamental principles of charity accounting align with other businesses, a key distinction lies in the emphasis on restricted and unrestricted funds. Charity accountants focus on categorizing expenditures associated with these funds. The goal is to provide clear and comprehensive information, enabling the transparent presentation and explanation of all the charity’s transactions.