Case studies

 Here are some interesting case studies which you may be able to relate to.
Case study 1
Status: Registered charity
Sector: Religion
Annual incoming resources: over £500k
Location: Covent Garden, LondonProblem:A charity historically had problems with their personalize accounting software, inexperienced staff and inadequate accounting system. This further lead to issues like:a) Incorrect cash book which did not show the correct amount of cash held at any time
b) Absence of any fund tracking system
c) Which meant they overspent restricted income
d) Absence of management accounts
e) Paid high fees to auditors as it involved more work

Solution:

a) We recommended new bookkeeping software suitable to the needs of the charity
b) We installed the software and set up the chart of accounts
c) We trained the staff member and treasurer on it
d) Provided free off site support
e) Provided free advice on changes and implementation of effective accounting system and internal controls

Result:

a) Correct cash book and all reports generated at the click of a button
b) Clear restricted and project fund position at any given point of time
c) Monthly management accounts generated automatically
d) Substantial reduction in audit fee by £1,000
e) Happy client!!!