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'I particularly liked that LAKE
took the trouble to understand our business model...
.. They listened and then they provided guidance and advice based
on that understanding.'
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Self-Service Tour
Not for Profit Tour
This tour includes content that is of particular interest to the Not for Profit sector.
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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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