Finance

Managing money effectively is an essential part of running any organisation.

Pound coins in a pile

It is important that sound financial systems, procedures and policies underpin the work of all third sector organisations – even more so as resources are stretched.

Help and advice is available to support your organisation with its financial health.

In this section:
Financial Foundations

Not sure where to begin? Start here to get your financial foundation stones in place.

Full Cost Recovery

Full Cost Recovery is a method of calculating the cost of your services, to inform your pricing decisions.

Audit

The term “audit” is often used to describe the checking of the bookkeeping and accounting records.

Claiming Gift Aid

Gift Aid is the basic tax which charities can claim back on donations made to their charity, where the individual donors have already paid income tax.

Management Accounts

Management accounts are produced to inform the trustees / managers of the financial position of the organisation throughout the year.

Reserves

Reserves is unrestricted income that is not yet spent, committed or designated.

VAT

Value Added Tax (VAT) is a tax on consumer expenditure. It is collected on business transactions, imports and acquisitions.

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