Finance Co-ordinator - Fund accounting for churches and charities

Statement of Financial Activity (SOFA)

Many churches and charities are required by the Charities Act to produce a Statement of Financial Activity (SOFA). Finance Co-ordinator can produce the SOFA at the click of a button.

As each transaction is recorded Finance Co-ordinator automatically updates all the relevant information so that you can produce a detailed or summary SOFA at any time.

Finance Co-ordinator will administer as many Designated, Unrestricted, Restricted and Endowment funds as required. It also provides you with default SOFA headings that match the latest SORP requirements. You can add to or change the SOFA headings to suit your situation.

Prepayments and accruals

If you are required by the Charities Act to record prepayments and accruals Finance Co-ordinator will not only record them but also update your reports.

After the end of the financial year the prepayments and accruals are carried forward and automatically reversed - you do not have to remember to do this manually!

There is even an assistant to help you enter the prepayments and accruals with a calculator option to help calculate the correct amount.

Even if you don't have to record prepayments and accruals they do enable you to produce more accurate year-end accounts - Finance Co-ordinator gives you the flexibility to choose.