For churches preparing Receipts and Payments accounts and Independent Examiners reviewing church Receipts and Payments accounts.
For accruals accounting, please see our other training HERE.
Understanding the type of activity that is generating church receipts and how the church funds are being spent, can assist the church trustees to accurately record and report where its funds are coming from and how the church is using those funds to further its charitable purposes.
The seminar will cover aspects such as:
How confident are you that your accounting records are accurate and ready for the Independent Examiner?
Understanding the type of activity that is generating church receipts and how the church funds are being spent, can assist the church trustees to accurately record and report where its funds are coming from and how the church is using those funds to further its charitable purposes, this course will give confidence in this understanding.
For churches preparing Receipts and Payments accounts and Independent Examiners reviewing church Receipts and Payments accounts.
For accruals accounting, please see our other training HERE.
Who is it for? For all those involved in preparing Receipts and Payments accounts for their churches, and Independent Examiners reviewing church Receipts and Payments accounts.
What will be achieved: By the end of this course you will have delved into accounting for different types of church receipts from offerings and donations to legacies and grants. Exploration of church payments related to the types of receipts and accounting for different fund types will also be covered.
All of which will give clear direction on recording and understanding the receipts different activities in church generate, giving confidence in your reporting.
Other information: The course comprises practical and theoretical information, delivered by a knowledgeable and experienced trainer, who has firsthand experience as a church treasurer and independent examiner. The trainer will be happy to answer your questions and concerns, enabling you to record and report your church finances with greater confidence.
The course is typically delivered through a live Zoom webinar. You’ll have the opportunity to interact with the speakers and get answers to your specific questions. Each delegate will be sent pre-course materials in advance of the sessions.
It may be helpful to have some knowledge of the financial recording and reporting in your own context, but it is not essential to have any specific knowledge to take the course.
How confident are you that your accounting records are accurate and ready for the Independent Examiner?
Understanding the type of activity that is generating church receipts and how the church funds are being spent, can assist the church trustees to accurately record and report where its funds are coming from and how the church is using those funds to further its charitable purposes, this course will give confidence in this understanding.
This course is for churches preparing Receipts and Payments accounts and Independent Examiners reviewing church Receipts and Payments accounts.
For accruals accounting, please see our other training.
For all those involved in preparing Receipts and Payments accounts for their churches, and Independent Examiners reviewing church Receipts and Payments accounts.
Understanding the type of activity that is generating church receipts and how the church funds are being spent, can assist the church trustees to accurately record and report where its funds are coming from and how the church is using those funds to further its charitable purposes, this course will give confidence in this understanding.
By the end of this course, you will have delved into accounting for different types of church receipts, from offerings and donations to legacies and grants. Exploration of church payments related to the types of receipts and accounting for different fund types will also be covered.
All of which will give clear direction on recording and understanding the receipts different activities in church generate, giving confidence in your reporting.
The course comprises practical and theoretical information, delivered by a knowledgeable and experienced trainer, who has firsthand experience as a church treasurer and independent examiner. The trainer will be happy to answer your questions and concerns, enabling you to record and report your church finances with greater confidence.
The course is typically delivered through a live Zoom webinar. You’ll have the opportunity to interact with the speakers and get answers to your specific questions. Each delegate will be sent pre-course materials in advance of the sessions.
It may be helpful to have some knowledge of the financial recording and reporting in your own context, but it is not essential to have any specific knowledge to take the course.
Liberty Accounts has launched a new tool called ‘Prepayments Scheduler’ which is intended to make the lives of church treasurers even more straightforward.
The company – which is one of ACAT’s Partners in Ministry – provides cloud accounting and payroll software and specialises in supporting the not-for-profit sector.
Its software has been designed to address the specific recording and reporting requirements of charities and faith-based organisations.
Neil Chadwick, director of Liberty Accounts, said: “We are continually looking to help improve user productivity and to simplify tasks that, for some, can seem daunting.
“Consequently, we’ve just released our ‘Prepayments Scheduler’.
“Using the feature, users can schedule their income/expenditure transactions – like local council bills – over a number of months and the system will then do the hard work of analysing the prepayment/accrual for you and apply the income/expenditure to the accounts based on the scheduling.”
Liberty Accounts’ software simplifies the accounting process by providing tools to automate processes and make the user more productive.
A small sample of the tools it makes available are:
– Integrated payroll – automate the submission of payroll RTI to HMRC; emailing of payslips to employees, updating of the accounts;
– Fixed asset ledger – automated depreciation calculation monthly or annually on assets held;
– Bank import – quickly and easily process transactions and set rules for recurring ones.
Liberty Accounts is offering ACAT’s members a FREE TRIAL by clicking HERE. Alternatively, email Liberty Accounts on sales@libertyaccounts.com for a no obligation demonstration.
On 31 October 2022, the first set of changes introduced by the Charities Act 2022 came into force, introducing a range of provisions, including new powers for trustees.
These provisions include:
Other provisions of the Act now in force:
More detailed information on these changes can be found here: https://www.gov.uk/guidance/charities-act-2022-guidance-for-charities
The next set of provisions are expected to come into force in Spring 2023.
You can read more about the Charities Act 2022: implementation plan here: https://www.gov.uk/guidance/charities-act-2022-implementation-plan.
Our partner CAF bank has also produced a Top 10 changes article about the practical implications for your charity. https://www.cafonline.org/about-us/blog-home/the-charities-act-2022-what-are-the-practical-implications-for-your-charity
And Bates Wells has produced this article highlighting the changes and what you should be doing in preparation: https://bateswells.co.uk/updates/charities-act-2022-when-will-the-new-provisions-come-into-force-and-what-should-you-be-doing-in-preparation/#:~:text=The%20range%20of%20helpful%20provisions,into%20force%20in%20Autumn%202023.
This course is designed to introduce charity treasurers to the concepts of simple Receipts and Payments accounting and the bookkeeping methods necessary to use this form of accounts. This course will cover:
The definition of a trade for tax purposes is wider than many people think…
And although there are specific tax exemptions for trading income received by charities there are also potential dangers.
There is a generally accepted solution of using a trading subsidiary but this needs to be handled very carefully.
This course will cover the following:
“Is your church aware of the hidden complexities in tax laws that might impact its trading activities?”
This course gives insights into the complexities of tax laws affecting church trading activities.
Who is it for? This course is designed for church treasurers, trustees, finance managers, and anyone involved in managing church finances, especially if your church trades or is thinking of trading..
Why take the course: Take this course to demystify the tax complexities surrounding church trading, understand potential pitfalls, and explore the nuances of tax exemptions for charitable income. Gain clarity on the role of trading subsidiaries and how to navigate them safely. Ensure your church stays compliant and makes informed decisions about its trading endeavours.
What will be achieved: By the end of this course, you’ll have a clear grasp of the tax definition of ‘trade’ and how it applies to church activities. You’ll understand the exemptions available for charitable trading income and recognise potential issues. Gain insights into the workings of trading subsidiaries and the precautions needed for a smooth operation. This knowledge will empower your church to maximise trading income while complying with tax regulations.
Other information: The course comprises practical insights and expert guidance on handling tax issues for church trading activities. It’s delivered by knowledgeable professionals who can answer your questions and concerns, ensuring that your church’s financial activities remain legally sound and financially beneficial. Don’t miss this opportunity to safeguard your church’s financial future.
The course is typically delivered through a live Zoom webinar. You’ll have the opportunity to interact with the speakers and get answers to your specific questions.
No prior knowledge is required, although a basic understanding of church finance can be beneficial. This course is designed to accommodate individuals with various levels of financial expertise.
