Excel was no Longer Fit for Purpose
Like many charities, the financial system at Betania has grown out of Excel to a point where it is too complex, too fragile and unable to cope with the different reporting needs of a fast-growing charity.
The Challenge
Irish charities must comply with the same Statement of Recommended Practice as their counterparts in the UK. This necessitates recording financial activity against a fund and activity/project as well as the nominal code. While this is onerous for data entry, it does allow easy monitoring of fund balances and straightforward compliance with the SORP.
Irish Charities benefit from the Charitable Donation Scheme from the Irish Government, which is similar to the UK's Gift Aid. However, Aedon.Accounting are building this from scratch to streamline the submission process.
The Solution
Aedon.Charities has replaced Excel as the cornerstone of the charity's administrative processes.
All financial activities will be recorded against a fund and an activity/project as well as the normal nominal code to classify the type of expenditure. This will transform the availability of useful information both for Management Information and statutory compliance.
Automated Gift Aid submission has been introduced and the Excel spreadsheets are now being gratefully retired.
Client Profile
Industry: Charity
Growth Stage: Established
Previous Finance System: Excel
Project Status: In Progress
Expected Results
- Better Control of Financial Information
- Improved Management Reporting
- Greater Integrity of Accounting Data
