{"id":195727,"date":"2024-03-26T12:27:05","date_gmt":"2024-03-26T12:27:05","guid":{"rendered":"https:\/\/www.avow.org\/?p=195727"},"modified":"2024-03-26T13:11:57","modified_gmt":"2024-03-26T13:11:57","slug":"top-tips-for-charity-finance","status":"publish","type":"post","link":"https:\/\/www.avow.org\/top-tips-for-charity-finance\/","title":{"rendered":"Top Tips for Charity Finance"},"content":{"rendered":"<p><style>@media (min-width: 768px) { .liquid-row-responsive-663c72d8c6e34 {padding-top:70px !important; padding-bottom:40px !important;  }  } @media (min-width: 992px) { .liquid-row-responsive-663c72d8c6e34 {padding-top:130px !important; padding-bottom:65px !important;  }  }    <\/style><section id=\"about\" class=\"vc_row vc_custom_1603097323845 liquid-row-responsive-663c72d8c6e34 liquid-row-shadowbox-663c72d8c6e8b\"><div class=\"ld-container container\"><div class=\"row ld-row ld-row-outer vc_row-o-content-middle vc_row-flex\"><div class=\"wpb_column vc_column_container vc_col-sm-12 vc_col-md-6 liquid-column-663c72d8c7b54\"><div class=\"vc_column-inner  \" ><div class=\"wpb_wrapper\"  data-custom-animations=\"true\" data-ca-options='{\"triggerHandler\":\"inview\",\"animationTarget\":\"all-childs\",\"duration\":\"1800\",\"delay\":\"180\",\"ease\":\"power4.out\",\"direction\":\"forward\",\"initValues\":{\"x\":-50,\"transformOriginX\":50,\"transformOriginY\":50,\"transformOriginZ\":\"0px\",\"opacity\":0},\"animations\":{\"x\":0,\"transformOriginX\":50,\"transformOriginY\":50,\"transformOriginZ\":\"0px\",\"opacity\":1}}'><style>.ld_fancy_heading_663c72d8c7f3e h6{color:rgb(122, 118, 100);}.ld_fancy_heading_663c72d8c7f3e h6 {font-size:11px; } .ld_fancy_heading_663c72d8c7f3e h6 {font-weight:700; } .ld_fancy_heading_663c72d8c7f3e h6 {letter-spacing:0.2em; } .ld_fancy_heading_663c72d8c7f3e h6 {margin-bottom:2em !important;  } .ld_fancy_heading_663c72d8c7f3e .lqd-highlight-inner{height:0.275em!important;bottom:0px!important;}.ld_fancy_heading_663c72d8c7f3e h6 {font-size:11px; } .ld_fancy_heading_663c72d8c7f3e h6 {font-weight:700; } .ld_fancy_heading_663c72d8c7f3e h6 {letter-spacing:0.2em; } .ld_fancy_heading_663c72d8c7f3e h6 {margin-bottom:2em !important;  } <\/style><div class=\"ld-fancy-heading text-uppercase ld_fancy_heading_663c72d8c7f3e\">\n\t<h6 class=\"ld-fh-element lqd-highlight-underline lqd-highlight-grow-left text-decoration-default\"   >  Top Tips for Charity Finance<\/h6><\/div><style>@media (min-width: 992px) { .ld_fancy_heading_663c72d8c8594 h2 {padding-right:22% !important;  }  } .ld_fancy_heading_663c72d8c8594 .lqd-highlight-inner{height:0.275em!important;bottom:0px!important;}@media (min-width: 992px) { .ld_fancy_heading_663c72d8c8594 h2 {padding-right:22% !important;  }  } <\/style><div class=\"ld-fancy-heading mask-text ld_fancy_heading_663c72d8c8594\">\n\t<h2 class=\"ld-fh-element lqd-highlight-underline lqd-highlight-grow-left text-decoration-default lqd-split-words\"   data-split-text=\"true\" data-split-options='{\"type\":\"words\"}' data-custom-animations=\"true\" data-ca-options='{\"triggerHandler\":\"inview\",\"animationTarget\":\".lqd-words > .split-inner\",\"duration\":\"1800\",\"delay\":\"180\",\"ease\":\"power4.out\",\"direction\":\"forward\",\"initValues\":{\"y\":70},\"animations\":{\"y\":0}}'>  Written by AVOW&#8217;s Development Manager for Volunteering, Community and Finance<\/h2><\/div><style>.ld_fancy_heading_663c72d8c8ac8 .lqd-highlight-inner{height:0.275em!important;bottom:0px!important;}<\/style><div class=\"ld-fancy-heading ld_fancy_heading_663c72d8c8ac8\">\n\t<p class=\"ld-fh-element lqd-highlight-underline lqd-highlight-grow-left text-decoration-default\"   >  Looking after charity finances can feel like a daunting task, however it needn\u2019t be. Here are 8 simple tips to help you on your journey.<\/p><\/div><style>.ld_spacer_663c72d8c8da4{height:12px;}<\/style>\n<div class=\"ld-empty-space ld_spacer_663c72d8c8da4\"><\/div><style>.ld_button_663c72d8c908c.btn-icon-solid .btn-icon{background:rgb(37, 37, 37);}.ld_button_663c72d8c908c.btn-icon-circle.btn-icon-ripple .btn-icon:before{border-color:rgb(37, 37, 37);}.ld_button_663c72d8c908c.btn-icon-solid:hover .btn-icon{background:rgb(26, 26, 26);}.ld_button_663c72d8c908c .btn-icon{font-size:21px;}.ld_button_663c72d8c908c{color:rgb(37, 37, 37);}.ld_button_663c72d8c908c:hover{color:rgb(26, 26, 26);}.ld_button_663c72d8c908c:before{background:rgb(37, 37, 37);}.ld_button_663c72d8c908c:after{background:rgb(26, 26, 26);}.ld_button_663c72d8c908c {font-size:10px; } .ld_button_663c72d8c908c {line-height:1.5em; } .ld_button_663c72d8c908c {--element-line-height:1.5em; } .ld_button_663c72d8c908c {letter-spacing:0.125em; } .ld_button_663c72d8c908c {font-size:10px; } .ld_button_663c72d8c908c {line-height:1.5em; } .ld_button_663c72d8c908c {--element-line-height:1.5em; } .ld_button_663c72d8c908c {letter-spacing:0.125em; } <\/style><a href=\"mailto:info@avow.org\" class=\"btn btn-underlined text-uppercase border-thin btn-hover-swp btn-has-label ld_button_663c72d8c908c vc_custom_1711447748173\" >\n\t<span>\n\t\t\n\t\t\t\t\t<span class=\"btn-txt\" data-text=\"Email Us To Learn More\" >Email Us To Learn More<\/span>\n\t\t\t\n\t<span class=\"btn-icon\"><i class=\"lqd-icn-ess icon-ion-ios-arrow-round-forward\"><\/i><\/span>\t<span class=\"btn-icon\"><i class=\"lqd-icn-ess icon-ion-ios-arrow-round-forward\"><\/i><\/span>\t\t\t<\/span>\n<\/a>\n<style>.ld_spacer_663c72d8ca351{height:32px;}<\/style>\n<div class=\"ld-empty-space ld_spacer_663c72d8ca351\"><\/div><\/div><\/div><\/div><div class=\"wpb_column vc_column_container vc_col-sm-12 vc_col-md-6 vc_hidden-sm vc_hidden-xs text-center liquid-column-663c72d8caccc\"><div class=\"vc_column-inner  \" ><div class=\"wpb_wrapper\"  ><div id=\"ld_images_group_container_663c72d8cb02a\" class=\"lqd-imggrp-container ld_images_group_container_663c72d8cb02a\"   >\n\t<div class=\"lqd-imggrp-inner\">\n\t\t<style>.ld_images_group_element_663c72d8cb4a2 {right:-150px !important;  } .ld_images_group_element_663c72d8cb4a2 {margin-top:-40px !important;  } .ld_images_group_element_663c72d8cb4a2 {right:-150px !important;  } .ld_images_group_element_663c72d8cb4a2 {margin-top:-40px !important;  } <\/style><div id=\"ld_images_group_element_663c72d8cb4a2\" class=\"lqd-imggrp-single ld_images_group_element_663c72d8cb4a2\" data-shadow-style=\"4\" data-inview=\"true\" data-inview-options='{\"delayTime\":300}' data-animate-shadow=\"true\"  >\n\t\n\t<div class=\"lqd-imggrp-img-container\"    data-parallax=\"true\" data-parallax-from='{\"y\":40}' data-parallax-to='{\"y\":-80}' data-parallax-options='{\"overflowHidden\":false,\"ease\":\"linear\",\"start\":\"top bottom\"}'>\n\t\t\n\t\t\t\t\n\t\t\t\t<figure ><img decoding=\"async\" width=\"640\" height=\"426\" src=\"https:\/\/www.avow.org\/wp-content\/uploads\/2024\/03\/euro-870757_1280.jpg\" srcset=\"https:\/\/www.avow.org\/wp-content\/uploads\/2024\/03\/euro-870757_1280-300x200.jpg 300w, https:\/\/www.avow.org\/wp-content\/uploads\/2024\/03\/euro-870757_1280-1024x682.jpg 1024w, https:\/\/www.avow.org\/wp-content\/uploads\/2024\/03\/euro-870757_1280-18x12.jpg 18w, https:\/\/www.avow.org\/wp-content\/uploads\/2024\/03\/euro-870757_1280.jpg 1280w\" class=\"\" alt=\"Calculator On Money - Stock Image\" itemprop=\"image\" \/><\/figure>\t\t\t\t\t\t\t\t\n\t<\/div><!-- \/.lqd-imggrp-content -->\n<\/div><!-- \/.lqd-imggrp-single -->\n\t\n\t<\/div><!-- \/.lqd-imggrp-inner -->\n<\/div><!-- \/.lqd-imggrp-container --><\/div><\/div><\/div><\/div><\/div><\/section><section class=\"vc_row liquid-row-shadowbox-663c72d8cd4d7\"><div class=\"ld-container container\"><div class=\"row ld-row ld-row-outer\"><div class=\"wpb_column vc_column_container vc_col-sm-12 liquid-column-663c72d8cdf7c\"><div class=\"vc_column-inner  \" ><div class=\"wpb_wrapper\"  ><div class=\"vc_row vc_inner vc_row-fluid vc_custom_1588592449870 liquid-row-shadowbox-663c72d8ce603 vc_column-gap-5\"><div class=\"ld-container container-fluid\"><div class=\"row ld-row ld-row-inner\"><div class=\"wpb_column vc_column_container vc_col-sm-2 vc_col-md-3 liquid-column-663c72d8cef73\"><div class=\"vc_column-inner \" ><div class=\"wpb_wrapper\" ><style>.ld_fancy_heading_663c72d8cf368 p{color:rgb(209, 220, 236);}.ld_fancy_heading_663c72d8cf368 p {font-size:48px; } .ld_fancy_heading_663c72d8cf368 p {line-height:1em; } .ld_fancy_heading_663c72d8cf368 p {--element-line-height:1em; } .ld_fancy_heading_663c72d8cf368 p {letter-spacing:-0.05em; } .ld_fancy_heading_663c72d8cf368 p {margin-bottom:0px !important;  } .ld_fancy_heading_663c72d8cf368 .lqd-highlight-inner{height:0.275em!important;bottom:0px!important;}.ld_fancy_heading_663c72d8cf368 p {font-size:48px; } .ld_fancy_heading_663c72d8cf368 p {line-height:1em; } .ld_fancy_heading_663c72d8cf368 p {--element-line-height:1em; } .ld_fancy_heading_663c72d8cf368 p {letter-spacing:-0.05em; } .ld_fancy_heading_663c72d8cf368 p {margin-bottom:0px !important;  } <\/style><div class=\"ld-fancy-heading ld_fancy_heading_663c72d8cf368\">\n\t<p class=\"ld-fh-element lqd-highlight-underline lqd-highlight-grow-left text-decoration-default h1\"   >  01<\/p><\/div><\/div><\/div><\/div><div class=\"wpb_column vc_column_container vc_col-sm-10 vc_col-md-9 liquid-column-663c72d8d0575 vc_col-has-fill\"><div class=\"vc_column-inner vc_custom_1595846172877\" ><div class=\"wpb_wrapper\" ><style>.ld_fancy_heading_663c72d8d086a h4 {font-size:18px; } .ld_fancy_heading_663c72d8d086a h4 {line-height:1.38em; } .ld_fancy_heading_663c72d8d086a h4 {--element-line-height:1.38em; } .ld_fancy_heading_663c72d8d086a h4 {margin-bottom:0.8em !important;  } .ld_fancy_heading_663c72d8d086a .lqd-highlight-inner{height:0.275em!important;bottom:0px!important;}.ld_fancy_heading_663c72d8d086a h4 {font-size:18px; } .ld_fancy_heading_663c72d8d086a h4 {line-height:1.38em; } .ld_fancy_heading_663c72d8d086a h4 {--element-line-height:1.38em; } .ld_fancy_heading_663c72d8d086a h4 {margin-bottom:0.8em !important;  } <\/style><div class=\"ld-fancy-heading ld_fancy_heading_663c72d8d086a\">\n\t<h4 class=\"ld-fh-element lqd-highlight-underline lqd-highlight-grow-left text-decoration-default\"   >  Understand Your Charity<\/h4><\/div><style>.ld_fancy_heading_663c72d8d1bae .lqd-highlight-inner{height:0.275em!important;bottom:0px!important;}<\/style><div class=\"ld-fancy-heading ld_fancy_heading_663c72d8d1bae\">\n\t<p class=\"ld-fh-element lqd-highlight-underline lqd-highlight-grow-left text-decoration-default\"   >  Ensure that you know the charity\u2019s objects, the objects are a statement of the charities purpose. For example, one of AVOWs objects is <em>to promote any charitable purpose for the benefit of the community of Wrexham County Borough<\/em>. All financial activity should be used to best advance these objects. You need to know what legal form your charity takes, be aware that your level of income may change your reporting requirements. You will also need to establish when your year end is, this may be 12 months after your activities started. Be aware, some charities will have different year end dates set by your board or your accountant.<\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div><div class=\"vc_row vc_inner vc_row-fluid vc_custom_1588592449870 liquid-row-shadowbox-663c72d8d2a43 vc_column-gap-5\"><div class=\"ld-container container-fluid\"><div class=\"row ld-row ld-row-inner\"><div class=\"wpb_column vc_column_container vc_col-sm-12 vc_col-md-3 liquid-column-663c72d8d325b\"><div class=\"vc_column-inner \" ><div class=\"wpb_wrapper\" ><style>.ld_fancy_heading_663c72d8d351c p{color:rgb(209, 220, 236);}.ld_fancy_heading_663c72d8d351c p {font-size:48px; } .ld_fancy_heading_663c72d8d351c p {line-height:1em; } .ld_fancy_heading_663c72d8d351c p {--element-line-height:1em; } .ld_fancy_heading_663c72d8d351c p {letter-spacing:-0.05em; } .ld_fancy_heading_663c72d8d351c p {margin-bottom:0px !important;  } .ld_fancy_heading_663c72d8d351c .lqd-highlight-inner{height:0.275em!important;bottom:0px!important;}.ld_fancy_heading_663c72d8d351c p {font-size:48px; } .ld_fancy_heading_663c72d8d351c p {line-height:1em; } .ld_fancy_heading_663c72d8d351c p {--element-line-height:1em; } .ld_fancy_heading_663c72d8d351c p {letter-spacing:-0.05em; } .ld_fancy_heading_663c72d8d351c p {margin-bottom:0px !important;  } <\/style><div class=\"ld-fancy-heading ld_fancy_heading_663c72d8d351c\">\n\t<p class=\"ld-fh-element lqd-highlight-underline lqd-highlight-grow-left text-decoration-default h1\"   >  02<\/p><\/div><\/div><\/div><\/div><div class=\"wpb_column vc_column_container vc_col-sm-12 vc_col-md-9 liquid-column-663c72d8d3f8f vc_col-has-fill\"><div class=\"vc_column-inner vc_custom_1588592476060\" ><div class=\"wpb_wrapper\" ><style>.ld_fancy_heading_663c72d8d422d h4 {font-size:18px; } .ld_fancy_heading_663c72d8d422d h4 {line-height:1.38em; } .ld_fancy_heading_663c72d8d422d h4 {--element-line-height:1.38em; } .ld_fancy_heading_663c72d8d422d h4 {margin-bottom:0.8em !important;  } .ld_fancy_heading_663c72d8d422d .lqd-highlight-inner{height:0.275em!important;bottom:0px!important;}.ld_fancy_heading_663c72d8d422d h4 {font-size:18px; } .ld_fancy_heading_663c72d8d422d h4 {line-height:1.38em; } .ld_fancy_heading_663c72d8d422d h4 {--element-line-height:1.38em; } .ld_fancy_heading_663c72d8d422d h4 {margin-bottom:0.8em !important;  } <\/style><div class=\"ld-fancy-heading ld_fancy_heading_663c72d8d422d\">\n\t<h4 class=\"ld-fh-element lqd-highlight-underline lqd-highlight-grow-left text-decoration-default\"   >  Use Software<\/h4><\/div><style>.ld_fancy_heading_663c72d8d47e8 .lqd-highlight-inner{height:0.275em!important;bottom:0px!important;}<\/style><div class=\"ld-fancy-heading ld_fancy_heading_663c72d8d47e8\">\n\t<p class=\"ld-fh-element lqd-highlight-underline lqd-highlight-grow-left text-decoration-default\"   >  If you use handwritten ledgers or excel sheets to monitor your finances, you should investigate using technology to increase your productivity. There are an array of low-cost computerised accountancy software available that are suitable for charities. Using accountancy software can streamline your processes, reduce human error, and improve reporting functions. Xero, QuickBooks, Sage and many more are available.<\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div><div class=\"vc_row vc_inner vc_row-fluid vc_custom_1588592449870 liquid-row-shadowbox-663c72d8d4fdf vc_column-gap-5\"><div class=\"ld-container container-fluid\"><div class=\"row ld-row ld-row-inner\"><div class=\"wpb_column vc_column_container vc_col-sm-12 vc_col-md-3 liquid-column-663c72d8d583d\"><div class=\"vc_column-inner \" ><div class=\"wpb_wrapper\" ><style>.ld_fancy_heading_663c72d8d5bae p{color:rgb(209, 220, 236);}.ld_fancy_heading_663c72d8d5bae p {font-size:48px; } .ld_fancy_heading_663c72d8d5bae p {line-height:1em; } .ld_fancy_heading_663c72d8d5bae p {--element-line-height:1em; } .ld_fancy_heading_663c72d8d5bae p {letter-spacing:-0.05em; } .ld_fancy_heading_663c72d8d5bae p {margin-bottom:0px !important;  } .ld_fancy_heading_663c72d8d5bae .lqd-highlight-inner{height:0.275em!important;bottom:0px!important;}.ld_fancy_heading_663c72d8d5bae p {font-size:48px; } .ld_fancy_heading_663c72d8d5bae p {line-height:1em; } .ld_fancy_heading_663c72d8d5bae p {--element-line-height:1em; } .ld_fancy_heading_663c72d8d5bae p {letter-spacing:-0.05em; } .ld_fancy_heading_663c72d8d5bae p {margin-bottom:0px !important;  } <\/style><div class=\"ld-fancy-heading ld_fancy_heading_663c72d8d5bae\">\n\t<p class=\"ld-fh-element lqd-highlight-underline lqd-highlight-grow-left text-decoration-default h1\"   >  03<\/p><\/div><\/div><\/div><\/div><div class=\"wpb_column vc_column_container vc_col-sm-12 vc_col-md-9 liquid-column-663c72d8d65de vc_col-has-fill\"><div class=\"vc_column-inner vc_custom_1588592476060\" ><div class=\"wpb_wrapper\" ><style>.ld_fancy_heading_663c72d8d68b8 h4 {font-size:18px; } .ld_fancy_heading_663c72d8d68b8 h4 {line-height:1.38em; } .ld_fancy_heading_663c72d8d68b8 h4 {--element-line-height:1.38em; } .ld_fancy_heading_663c72d8d68b8 h4 {margin-bottom:0.8em !important;  } .ld_fancy_heading_663c72d8d68b8 .lqd-highlight-inner{height:0.275em!important;bottom:0px!important;}.ld_fancy_heading_663c72d8d68b8 h4 {font-size:18px; } .ld_fancy_heading_663c72d8d68b8 h4 {line-height:1.38em; } .ld_fancy_heading_663c72d8d68b8 h4 {--element-line-height:1.38em; } .ld_fancy_heading_663c72d8d68b8 h4 {margin-bottom:0.8em !important;  } <\/style><div class=\"ld-fancy-heading ld_fancy_heading_663c72d8d68b8\">\n\t<h4 class=\"ld-fh-element lqd-highlight-underline lqd-highlight-grow-left text-decoration-default\"   >  Record All Transactions For Your Charity Regularly<\/h4><\/div><style>.ld_fancy_heading_663c72d8d6e22 .lqd-highlight-inner{height:0.275em!important;bottom:0px!important;}<\/style><div class=\"ld-fancy-heading ld_fancy_heading_663c72d8d6e22\">\n\t<p class=\"ld-fh-element lqd-highlight-underline lqd-highlight-grow-left text-decoration-default\"   >  Make keeping your accounts up to date a regular thing, this will vary on the size of your organisation, it maybe every day or every week but try to ensure you balance your bank every month. \u00a0Nothing is more daunting than having to catch up on 6 months of accounting invoices and transactions. Keeping up to date means you can identify issues quicker and then be able to adapt if necessary.<\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div><div class=\"vc_row vc_inner vc_row-fluid liquid-row-shadowbox-663c72d8d752e vc_column-gap-5\"><div class=\"ld-container container-fluid\"><div class=\"row ld-row ld-row-inner\"><div class=\"wpb_column vc_column_container vc_col-sm-3 liquid-column-663c72d8d7df3\"><div class=\"vc_column-inner \" ><div class=\"wpb_wrapper\" ><style>.ld_fancy_heading_663c72d8d8113 p{color:rgb(209, 220, 236);}.ld_fancy_heading_663c72d8d8113 p {font-size:48px; } .ld_fancy_heading_663c72d8d8113 p {line-height:1em; } .ld_fancy_heading_663c72d8d8113 p {--element-line-height:1em; } .ld_fancy_heading_663c72d8d8113 p {letter-spacing:-0.05em; } .ld_fancy_heading_663c72d8d8113 p {margin-bottom:0px !important;  } .ld_fancy_heading_663c72d8d8113 .lqd-highlight-inner{height:0.275em!important;bottom:0px!important;}.ld_fancy_heading_663c72d8d8113 p {font-size:48px; } .ld_fancy_heading_663c72d8d8113 p {line-height:1em; } .ld_fancy_heading_663c72d8d8113 p {--element-line-height:1em; } .ld_fancy_heading_663c72d8d8113 p {letter-spacing:-0.05em; } .ld_fancy_heading_663c72d8d8113 p {margin-bottom:0px !important;  } <\/style><div class=\"ld-fancy-heading ld_fancy_heading_663c72d8d8113\">\n\t<p class=\"ld-fh-element lqd-highlight-underline lqd-highlight-grow-left text-decoration-default h1\"   >  04<\/p><\/div><\/div><\/div><\/div><div class=\"wpb_column vc_column_container vc_col-sm-9 vc_col-md-9 liquid-column-663c72d8d8bbc\"><div class=\"vc_column-inner \" ><div class=\"wpb_wrapper\" ><style>.ld_fancy_heading_663c72d8d8f5f h4 {font-size:18px; } .ld_fancy_heading_663c72d8d8f5f h4 {line-height:1.38em; } .ld_fancy_heading_663c72d8d8f5f h4 {--element-line-height:1.38em; } .ld_fancy_heading_663c72d8d8f5f h4 {margin-bottom:0.8em !important;  } .ld_fancy_heading_663c72d8d8f5f .lqd-highlight-inner{height:0.275em!important;bottom:0px!important;}.ld_fancy_heading_663c72d8d8f5f h4 {font-size:18px; } .ld_fancy_heading_663c72d8d8f5f h4 {line-height:1.38em; } .ld_fancy_heading_663c72d8d8f5f h4 {--element-line-height:1.38em; } .ld_fancy_heading_663c72d8d8f5f h4 {margin-bottom:0.8em !important;  } <\/style><div class=\"ld-fancy-heading ld_fancy_heading_663c72d8d8f5f\">\n\t<h4 class=\"ld-fh-element lqd-highlight-underline lqd-highlight-grow-left text-decoration-default\"   >  Ensure Accuracy and Attention to Detail<\/h4><\/div><style>.ld_fancy_heading_663c72d8d9458 .lqd-highlight-inner{height:0.275em!important;bottom:0px!important;}<\/style><div class=\"ld-fancy-heading ld_fancy_heading_663c72d8d9458\">\n\t<p class=\"ld-fh-element lqd-highlight-underline lqd-highlight-grow-left text-decoration-default\"   >  Check, check, and triple check. Human error is natural, and dealing with numbers constantly does make you go number blind. So, make sure you check your figures when inputting into your accounting system, when writing cheques and when making payments as it\u2019s easy to make simple mistakes.<\/p><\/div><div class=\"vc_separator wpb_content_element vc_separator_align_center vc_sep_width_100 vc_sep_pos_align_center vc_separator_no_text vc_sep_color_grey\" ><span class=\"vc_sep_holder vc_sep_holder_l\"><span  class=\"vc_sep_line\"><\/span><\/span><span class=\"vc_sep_holder vc_sep_holder_r\"><span  class=\"vc_sep_line\"><\/span><\/span>\n<\/div><style>.ld_spacer_663c72d8d9ad7{height:32px;}<\/style>\n<div class=\"ld-empty-space ld_spacer_663c72d8d9ad7\"><\/div><\/div><\/div><\/div><\/div><\/div><\/div><div class=\"vc_row vc_inner vc_row-fluid liquid-row-shadowbox-663c72d8d9fba vc_column-gap-5\"><div class=\"ld-container container-fluid\"><div class=\"row ld-row ld-row-inner\"><div class=\"wpb_column vc_column_container vc_col-sm-3 liquid-column-663c72d8da70d\"><div class=\"vc_column-inner \" ><div class=\"wpb_wrapper\" ><style>.ld_fancy_heading_663c72d8da9ea p{color:rgb(209, 220, 236);}.ld_fancy_heading_663c72d8da9ea p {font-size:48px; } .ld_fancy_heading_663c72d8da9ea p {line-height:1em; } .ld_fancy_heading_663c72d8da9ea p {--element-line-height:1em; } .ld_fancy_heading_663c72d8da9ea p {letter-spacing:-0.05em; } .ld_fancy_heading_663c72d8da9ea p {margin-bottom:0px !important;  } .ld_fancy_heading_663c72d8da9ea .lqd-highlight-inner{height:0.275em!important;bottom:0px!important;}.ld_fancy_heading_663c72d8da9ea p {font-size:48px; } .ld_fancy_heading_663c72d8da9ea p {line-height:1em; } .ld_fancy_heading_663c72d8da9ea p {--element-line-height:1em; } .ld_fancy_heading_663c72d8da9ea p {letter-spacing:-0.05em; } .ld_fancy_heading_663c72d8da9ea p {margin-bottom:0px !important;  } <\/style><div class=\"ld-fancy-heading ld_fancy_heading_663c72d8da9ea\">\n\t<p class=\"ld-fh-element lqd-highlight-underline lqd-highlight-grow-left text-decoration-default h1\"   >  05<\/p><\/div><\/div><\/div><\/div><div class=\"wpb_column vc_column_container vc_col-sm-9 liquid-column-663c72d8db50c\"><div class=\"vc_column-inner \" ><div class=\"wpb_wrapper\" ><style>.ld_fancy_heading_663c72d8db7c4 h4 {font-size:18px; } .ld_fancy_heading_663c72d8db7c4 h4 {line-height:1.38em; } .ld_fancy_heading_663c72d8db7c4 h4 {--element-line-height:1.38em; } .ld_fancy_heading_663c72d8db7c4 h4 {margin-bottom:0.8em !important;  } .ld_fancy_heading_663c72d8db7c4 .lqd-highlight-inner{height:0.275em!important;bottom:0px!important;}.ld_fancy_heading_663c72d8db7c4 h4 {font-size:18px; } .ld_fancy_heading_663c72d8db7c4 h4 {line-height:1.38em; } .ld_fancy_heading_663c72d8db7c4 h4 {--element-line-height:1.38em; } .ld_fancy_heading_663c72d8db7c4 h4 {margin-bottom:0.8em !important;  } <\/style><div class=\"ld-fancy-heading ld_fancy_heading_663c72d8db7c4\">\n\t<h4 class=\"ld-fh-element lqd-highlight-underline lqd-highlight-grow-left text-decoration-default\"   >  Understand Fund Accounting<\/h4><\/div><style>.ld_fancy_heading_663c72d8dbdba .lqd-highlight-inner{height:0.275em!important;bottom:0px!important;}<\/style><div class=\"ld-fancy-heading ld_fancy_heading_663c72d8dbdba\">\n\t<p class=\"ld-fh-element lqd-highlight-underline lqd-highlight-grow-left text-decoration-default\"   >  Charities often receive funds by way of grants, donations or fundraising that are for a specific purpose. You will need to show these in your accounts as restricted funds, you may end up with many of these pots of funds. You will need to ensure that all receipts and income are allocated to the relevant funding pot, this is called fund accounting.\u00a0 Having a computerized software system will assist with restricted funds and fund allocation.<\/p><\/div><div class=\"vc_separator wpb_content_element vc_separator_align_center vc_sep_width_100 vc_sep_pos_align_center vc_separator_no_text vc_sep_color_grey\" ><span class=\"vc_sep_holder vc_sep_holder_l\"><span  class=\"vc_sep_line\"><\/span><\/span><span class=\"vc_sep_holder vc_sep_holder_r\"><span  class=\"vc_sep_line\"><\/span><\/span>\n<\/div><style>.ld_spacer_663c72d8dc3e0{height:32px;}<\/style>\n<div class=\"ld-empty-space ld_spacer_663c72d8dc3e0\"><\/div><\/div><\/div><\/div><\/div><\/div><\/div><div class=\"vc_row vc_inner vc_row-fluid liquid-row-shadowbox-663c72d8dc967\"><div class=\"ld-container container-fluid\"><div class=\"row ld-row ld-row-inner\"><div class=\"wpb_column vc_column_container vc_col-sm-3 liquid-column-663c72d8dd180\"><div class=\"vc_column-inner \" ><div class=\"wpb_wrapper\" ><style>.ld_fancy_heading_663c72d8dd419 p{color:rgb(209, 220, 236);}.ld_fancy_heading_663c72d8dd419 p {font-size:48px; } .ld_fancy_heading_663c72d8dd419 p {line-height:1em; } .ld_fancy_heading_663c72d8dd419 p {--element-line-height:1em; } .ld_fancy_heading_663c72d8dd419 p {letter-spacing:-0.05em; } .ld_fancy_heading_663c72d8dd419 p {margin-bottom:0px !important;  } .ld_fancy_heading_663c72d8dd419 .lqd-highlight-inner{height:0.275em!important;bottom:0px!important;}.ld_fancy_heading_663c72d8dd419 p {font-size:48px; } .ld_fancy_heading_663c72d8dd419 p {line-height:1em; } .ld_fancy_heading_663c72d8dd419 p {--element-line-height:1em; } .ld_fancy_heading_663c72d8dd419 p {letter-spacing:-0.05em; } .ld_fancy_heading_663c72d8dd419 p {margin-bottom:0px !important;  } <\/style><div class=\"ld-fancy-heading ld_fancy_heading_663c72d8dd419\">\n\t<p class=\"ld-fh-element lqd-highlight-underline lqd-highlight-grow-left text-decoration-default h1\"   >  06<\/p><\/div><\/div><\/div><\/div><div class=\"wpb_column vc_column_container vc_col-sm-9 liquid-column-663c72d8de288\"><div class=\"vc_column-inner \" ><div class=\"wpb_wrapper\" ><style>.ld_fancy_heading_663c72d8de5a3 h4 {font-size:18px; } .ld_fancy_heading_663c72d8de5a3 h4 {line-height:1.38em; } .ld_fancy_heading_663c72d8de5a3 h4 {--element-line-height:1.38em; } .ld_fancy_heading_663c72d8de5a3 h4 {margin-bottom:0.8em !important;  } .ld_fancy_heading_663c72d8de5a3 .lqd-highlight-inner{height:0.275em!important;bottom:0px!important;}.ld_fancy_heading_663c72d8de5a3 h4 {font-size:18px; } .ld_fancy_heading_663c72d8de5a3 h4 {line-height:1.38em; } .ld_fancy_heading_663c72d8de5a3 h4 {--element-line-height:1.38em; } .ld_fancy_heading_663c72d8de5a3 h4 {margin-bottom:0.8em !important;  } <\/style><div class=\"ld-fancy-heading ld_fancy_heading_663c72d8de5a3\">\n\t<h4 class=\"ld-fh-element lqd-highlight-underline lqd-highlight-grow-left text-decoration-default\"   >  Strong Policies And Procedures<\/h4><\/div><style>.ld_fancy_heading_663c72d8debbc .lqd-highlight-inner{height:0.275em!important;bottom:0px!important;}<\/style><div class=\"ld-fancy-heading ld_fancy_heading_663c72d8debbc\">\n\t<p class=\"ld-fh-element lqd-highlight-underline lqd-highlight-grow-left text-decoration-default\"   >  To avoid financial risk you need to set up and adhere to the organisations financial policies. These need to include details of petty cash limits, details of the accounting\/bookkeeping processes, purchasing levels and detail the authorisation levels for staff\/managers and Trustees.<\/p><\/div><div class=\"vc_separator wpb_content_element vc_separator_align_center vc_sep_width_100 vc_sep_pos_align_center vc_separator_no_text vc_sep_color_grey\" ><span class=\"vc_sep_holder vc_sep_holder_l\"><span  class=\"vc_sep_line\"><\/span><\/span><span class=\"vc_sep_holder vc_sep_holder_r\"><span  class=\"vc_sep_line\"><\/span><\/span>\n<\/div><style>.ld_spacer_663c72d8df26d{height:32px;}<\/style>\n<div class=\"ld-empty-space ld_spacer_663c72d8df26d\"><\/div><\/div><\/div><\/div><\/div><\/div><\/div><div class=\"vc_row vc_inner vc_row-fluid liquid-row-shadowbox-663c72d8df7a6\"><div class=\"ld-container container-fluid\"><div class=\"row ld-row ld-row-inner\"><div class=\"wpb_column vc_column_container vc_col-sm-3 liquid-column-663c72d8e0015\"><div class=\"vc_column-inner \" ><div class=\"wpb_wrapper\" ><style>.ld_fancy_heading_663c72d8e0291 p{color:rgb(209, 220, 236);}.ld_fancy_heading_663c72d8e0291 p {font-size:48px; } .ld_fancy_heading_663c72d8e0291 p {line-height:1em; } .ld_fancy_heading_663c72d8e0291 p {--element-line-height:1em; } .ld_fancy_heading_663c72d8e0291 p {letter-spacing:-0.05em; } .ld_fancy_heading_663c72d8e0291 p {margin-bottom:0px !important;  } .ld_fancy_heading_663c72d8e0291 .lqd-highlight-inner{height:0.275em!important;bottom:0px!important;}.ld_fancy_heading_663c72d8e0291 p {font-size:48px; } .ld_fancy_heading_663c72d8e0291 p {line-height:1em; } .ld_fancy_heading_663c72d8e0291 p {--element-line-height:1em; } .ld_fancy_heading_663c72d8e0291 p {letter-spacing:-0.05em; } .ld_fancy_heading_663c72d8e0291 p {margin-bottom:0px !important;  } <\/style><div class=\"ld-fancy-heading ld_fancy_heading_663c72d8e0291\">\n\t<p class=\"ld-fh-element lqd-highlight-underline lqd-highlight-grow-left text-decoration-default h1\"   >  07<\/p><\/div><\/div><\/div><\/div><div class=\"wpb_column vc_column_container vc_col-sm-9 liquid-column-663c72d8e0c7d\"><div class=\"vc_column-inner \" ><div class=\"wpb_wrapper\" ><style>.ld_fancy_heading_663c72d8e0ed9 .lqd-highlight-inner{height:0.275em!important;bottom:0px!important;}<\/style><div class=\"ld-fancy-heading ld_fancy_heading_663c72d8e0ed9\">\n\t<h4 class=\"ld-fh-element lqd-highlight-underline lqd-highlight-grow-left text-decoration-default\"   >  Reporting<\/h4><\/div><style>.ld_fancy_heading_663c72d8e12f0 .lqd-highlight-inner{height:0.275em!important;bottom:0px!important;}<\/style><div class=\"ld-fancy-heading ld_fancy_heading_663c72d8e12f0\">\n\t<p class=\"ld-fh-element lqd-highlight-underline lqd-highlight-grow-left text-decoration-default\"   >  Provide financial information to the trustees on a regular basis. Keep the reporting simple, clear and easy to understand. Not all trustees are able to understand complex excel reports, so to make financial information informative and easy to read for the non-finance person. Use graphics like a pie chart and highlight important information so the board can make informed financial decisions.<\/p><\/div><div class=\"vc_separator wpb_content_element vc_separator_align_center vc_sep_width_100 vc_sep_pos_align_center vc_separator_no_text vc_sep_color_grey\" ><span class=\"vc_sep_holder vc_sep_holder_l\"><span  class=\"vc_sep_line\"><\/span><\/span><span class=\"vc_sep_holder vc_sep_holder_r\"><span  class=\"vc_sep_line\"><\/span><\/span>\n<\/div><style>.ld_spacer_663c72d8e1858{height:32px;}<\/style>\n<div class=\"ld-empty-space ld_spacer_663c72d8e1858\"><\/div><\/div><\/div><\/div><\/div><\/div><\/div><div class=\"vc_row vc_inner vc_row-fluid liquid-row-shadowbox-663c72d8e1d16\"><div class=\"ld-container container-fluid\"><div class=\"row ld-row ld-row-inner\"><div class=\"wpb_column vc_column_container vc_col-sm-3 liquid-column-663c72d8e2517\"><div class=\"vc_column-inner \" ><div class=\"wpb_wrapper\" ><style>.ld_fancy_heading_663c72d8e27d2 p{color:rgb(209, 220, 236);}.ld_fancy_heading_663c72d8e27d2 p {font-size:48px; } .ld_fancy_heading_663c72d8e27d2 p {line-height:1em; } .ld_fancy_heading_663c72d8e27d2 p {--element-line-height:1em; } .ld_fancy_heading_663c72d8e27d2 p {letter-spacing:-0.05em; } .ld_fancy_heading_663c72d8e27d2 p {margin-bottom:0px !important;  } .ld_fancy_heading_663c72d8e27d2 .lqd-highlight-inner{height:0.275em!important;bottom:0px!important;}.ld_fancy_heading_663c72d8e27d2 p {font-size:48px; } .ld_fancy_heading_663c72d8e27d2 p {line-height:1em; } .ld_fancy_heading_663c72d8e27d2 p {--element-line-height:1em; } .ld_fancy_heading_663c72d8e27d2 p {letter-spacing:-0.05em; } .ld_fancy_heading_663c72d8e27d2 p {margin-bottom:0px !important;  } <\/style><div class=\"ld-fancy-heading ld_fancy_heading_663c72d8e27d2\">\n\t<p class=\"ld-fh-element lqd-highlight-underline lqd-highlight-grow-left text-decoration-default h1\"   >  08<\/p><\/div><\/div><\/div><\/div><div class=\"wpb_column vc_column_container vc_col-sm-9 liquid-column-663c72d8e327b\"><div class=\"vc_column-inner \" ><div class=\"wpb_wrapper\" ><style>.ld_fancy_heading_663c72d8e34f7 .lqd-highlight-inner{height:0.275em!important;bottom:0px!important;}<\/style><div class=\"ld-fancy-heading ld_fancy_heading_663c72d8e34f7\">\n\t<h4 class=\"ld-fh-element lqd-highlight-underline lqd-highlight-grow-left text-decoration-default\"   >  Get Support<\/h4><\/div><style>.ld_fancy_heading_663c72d8e39e6 .lqd-highlight-inner{height:0.275em!important;bottom:0px!important;}<\/style><div class=\"ld-fancy-heading ld_fancy_heading_663c72d8e39e6\">\n\t<p class=\"ld-fh-element lqd-highlight-underline lqd-highlight-grow-left text-decoration-default\"   >  If in doubt, get help, you are not alone. Here are some of the useful external links:<\/p>\n<p><a href=\"https:\/\/www.gov.uk\/guidance\/managing-charity-finances\" target=\"_blank\" rel=\"noopener\">https:\/\/www.gov.uk\/guidance\/managing-charity-finances<\/a><\/p>\n<p><a href=\"https:\/\/knowledgehub.cymru\/app\/uploads\/2021\/03\/Basic-Bookkeeping.pdf\" target=\"_blank\" rel=\"noopener\">https:\/\/knowledgehub.cymru\/app\/uploads\/2021\/03\/Basic-Bookkeeping.pdf<\/a><\/p>\n<p>Or, you can reach out to us for support. AVOW is Wrexham&#8217;s County Voluntary Council, and we are here to help. We&#8217;re here to help charities and charitable organisations tackle this complicated issue. We offer help, advice and support to help you succeed. For more information on how AVOW can help you today, <a href=\"mailto:info@avow.org\">get in touch!<\/a><\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/section>\n","protected":false},"excerpt":{"rendered":"Top Tips for Charity Finance Written by AVOW's Development Manager for Volunteering, Community and Finance Looking after charity finances can feel like a daunting task, however it needn\u2019t be. Here are 8 simple tips to help you on your journey. Email Us To Learn More 01 Understand Your Charity Ensure that you know the charity\u2019s [...]","protected":false},"author":3,"featured_media":195848,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[94,3,185,74],"tags":[188,157,189,187,103,186],"_links":{"self":[{"href":"https:\/\/www.avow.org\/wp-json\/wp\/v2\/posts\/195727"}],"collection":[{"href":"https:\/\/www.avow.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.avow.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.avow.org\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.avow.org\/wp-json\/wp\/v2\/comments?post=195727"}],"version-history":[{"count":23,"href":"https:\/\/www.avow.org\/wp-json\/wp\/v2\/posts\/195727\/revisions"}],"predecessor-version":[{"id":195844,"href":"https:\/\/www.avow.org\/wp-json\/wp\/v2\/posts\/195727\/revisions\/195844"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.avow.org\/wp-json\/wp\/v2\/media\/195848"}],"wp:attachment":[{"href":"https:\/\/www.avow.org\/wp-json\/wp\/v2\/media?parent=195727"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.avow.org\/wp-json\/wp\/v2\/categories?post=195727"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.avow.org\/wp-json\/wp\/v2\/tags?post=195727"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}