Reports: Support for charity reporting
Is there an easy way to create/run reports tailored specifically for charities or is it just me that I am finding it difficult to find ? I've got the charity set up as a non-for-profit organisation which doesn't seem to make much difference at all.
It's disappointed to see Xero doesn't have any reports templates for charities.
Executive report cannot be overtype as needed - It's not possible to change "Profit (Loss)" line within profitability to Surplus/Deficit.
Regarding Current Year Earnings, it isn't currently possible to rename this to current year funds, or to code manual journals from this to a different account which It's very important for charity accounts. Will this ever change ?
Filipe Rosa
shared this idea
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Karen Tonks
commented
As a Charity we still have to pay an accountant to convert our xero reports into "Scout" and "charity Commission" speak
https://www.scouts.org.uk/volunteers/running-things-locally/finances-and-insurance/accounting-and-reporting/ -
Filipe Rosa
commented
Nigel, If it was within Xero rather than having to do it manually outside of the system that would be much better. Xero has the 'management report' for companies, it's just not useful for non-for-profits which is a shame.
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Nigel Kay
commented
There are over 160,000 charities in just England and Wales excluding Northern Ireland and Scotland. The sector is valued at £20 billion.
The regulation are https://www.gov.uk/government/publications/charity-reporting-and-accounting-the-essentials-cc15b/charity-reporting-and-accounting-the-essentials
An example is attached.
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Jake McElwaine
commented
It would be great to have compliant financial statements for Not For Profits such as Simplified Disclosures. Many other software providers have these such as APS and Sage etc.
