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"After only half an hour with LAKE it was immediately apparent that
they knew what we were about"
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Exhibition:
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Meeting the challenges facing
Finance in Charities and Not for Profit
The Finance team in charitable and not-for-profit organisations have
always had a challenging time, with numerous stakeholders requiring reports
in different formats, complex VAT recovery, and the added responsibility of
tracking restricted and unrestricted funds. However, over recent years a
number of factors have placed additional burdens on these organisations:
- There is an increasing demand for transparency and accountability from all sides, including donors, trustees, committees, patrons, management, the public, the tax authorities, and regulators.
- In the case of charities and aid agencies, there is increasing "competition" for donor's funds.
- Investment returns have been declining
Charity Finance Specialists
The combination of the market leading SunSystems (SunAccount)
charity accounts software and LAKE's focus on the Not for Profit sector helps deliver solutions to the challenges faced by these kinds of organisations:
Quickly assess performance by Fund, Project, Office, Department, Donor etc
Analyse activity by your choice of key performance indicators.
Keep the organisation to its budget and positively prevent over-spend
The LAKE solution allows you to delegate authority with absolute confidence that spend will be kept safely within budget. Management will be able to account for every single penny of non-payroll spend.
Reduce management and administration overheads to free up resources
Streamline the buying process and introduce standards and procedures designed to bring spend under control. Leverage the organisation’s buying power while saving time and money.
Track movements in every fund, distinguishing between restricted and unrestricted funds
SunSystems will allow you to account for any number of funds, track incoming resources and show how those funds have been used, down to the last penny.
Reporting to SORP standards
The LAKE Not for Profit solution includes SOFA and other reports as standard.
Accounting for partial and non-recoverable VAT
SunSystems will deal with all your VAT requirements, including partial exemption, as part of the standard solution.
Integration with third-party applications
Powerful integration tools mean that SunSystems will integrate seamlessly with your Donation, Membership, Ticketing, Banking and Payroll systems.
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