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Managing Money Categories
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Managing Money is all about making the most of what an organisation has to spend and ensuring it keeps a proper track of it. This section provides information on general management issues, how to keep proper records, accounting regulations and procedure, internal controls that can head off mistakes with money, services that can help organisations deal with money and tax.
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Record Keeping and Accounts
This section of the site provides information on the key aspects of keeping financial records and accounting for the money that an organisation holds. Areas covered include basic bookkeeping, what needs reporting and in what format, models of different types of accounts, balance sheets, statement of balances, the charity SORP, the statement of fiancial activities (SOFA), audit, independent examination and the 1992 accounting regulations.
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Financial Management
This section of the site provides an introduction to key aspects of general money and financial management. It includes information on who is responsible for money coming in and going out, making an organisation effective, budgeting, reporting to funders, what reserves are and how they can be established and maintained, investment, including ethical investments and trustee investment law.
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Internal Controls
Internal controls are procedures set up to make sure an organisation keeps track of its money and heads off the possibility of fraud. This section highlights some key areas that voluntary organisations should address to ensure safety and security when dealing with the money that has been donated or otherwise entrusted to them.
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Financial Services
There are numerous financial services available to the voluntary sector, and many are essential to the effective working of an organisation, for example, basic banking or insurance. Using some services can free up resources for work on the core mission of an organisation, for example, payroll administration. This section of the site highlights some of the key services that organisations should consider.
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Staffing and Expenses
This section of the site highlights some key financial aspects of employing staff or taking on volunteers, including consequent financial obligations, and operating a sensible expenses system.
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Tax and VAT
What does tax mean for voluntary organisations and charities? What do they pay, what are they exempt from? This section of the site attempts to provide some clarity in what are highly complex areas and introduce the user to the basics of tax.
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