Struggling with Fund Accounting & SORP Reporting
Fresh Start Community Association is a church-based charity with a particular focus on its annual “Christmas Cheer” scheme when they deliver hundreds of hampers to the needy in the local Brighton community.
The accounting system had evolved in Excel and was getting increasingly difficult to maintain, let alone gather useful management information.
The Challenge
There are no trained accountants at the Charity and the sophisticated Excel spreadsheets that had been created were a credit to the creativity and intelligence of the finance team, but they could not keep up with the needs of the charity.
There was little management information and the record keeping was maintained for compliance rather than proactively managing any of the projects or operations.
The Solution
Aedon.Charities has replaced Xero at the core of the financial solution with the necessary Analysis codes to cope with different funds, departments and activities.
The initial focus has been to tighten the month end close with a necessary focus on key reconciliations of all the different income.
The reports and dashboards are evolving to allow greater visibility of the different department spends and the wide variety of projects that they undertake.
A once painful accounting process is being transformed into meaningful accounting information which is both accurate and up-to-date.
Client Profile
Industry: Charity
Growth Stage: Established
Previous Finance System: Excel
Project Status: Live
Results
- Better Control of Financial Information
- Improved Management Reporting
- Greater Integrity of Accounting Data
Technology
- Aedon.Charities
- Microsoft Suite
Payment Platforms
- Direct Donations
- PayPal
