Please find below, information about our VT templates for the
preparation of accounts of Registered Charities. Please note that our
charity templates require an installation of VT software in order to
work.
Our templates use the VT ‘Manual input of Trial balance’ method to
input a previously prepared and fully analysed Trial Balance into a
modified VT worksheet. The Trial Balance is split between 'Restricted'
and 'Unrestricted' funds, and a user follows a ten step procedure from
Trial Balance input to the production of final accounts.
This automatically transfers the data into a Statement of Financial
Activities, an Income and Expenditure Account, a Balance Sheet and
related notes and schedules. Because the Charity SORP requires a great
deal of analysis, it is then necessary to input the breakdown of
several figures into the accounts into supporting schedules. The
template will automatically inform the user if the schedules do not
balance back to the prime figures in the accounts and the Trial
Balance.
The accounts are automatically formatted with note numbers and page
numbers, enabling a full set of accounts to be printed off. A pdf file
can be produced so that the end product can be sent by email. Click here to view a sample set of accounts.
Throughout the templates there are cross references to the relevant
disclosure requirements of the SORP, and links to a library of
publications and reference material on the internet. There is also a
built in disclosure checklist. We believe that the use of the cross
references and the disclosure checklist should enable a fully compliant
set of accounts to be produced in most circumstances.
The latest version of the templates, version 5, is compliant with
the 2005 SORP and the 2005 FRSSE, and has a large number of new
features that were not available in earlier versions. See below for the
basic technical knowledge that you will require to use the templates,
and the basis upon which we provide technical accountancy advice.
For Unincorporated charities there are two templates :-
The Independent
Examination on an accruals basis
Unincorporated charity
audit
For incorporated charities there are three templates
Under £90,000 gross income
– exempt from formal reporting
The accountant’s report
by a registered auditor
Audit of an
incorporated charity
There is an optional extra template for consolidating a group of
charities.
Although the basic templates will produce accounts for charities
with endowment funds in simple cases, more complex cases will require
further analysis and there is an optional endowment fund template. In
the past we have found that many users are able to use the basic
templates, even for endowment funds.
About VT
VT Final Accounts consists of an add-in program and statutory/final
accounts templates for Microsoft Excel 95 or later. The add-in program
extends the functionality of Excel and provides features such as
automatic note numbering and the automatic hiding of blank rows and
notes. It also provides an easy way of printing out multiple sheets of
an Excel workbook with all the pages correctly numbered.
VT Final Accounts does not have its own program icon. It is accessed
entirely from within Excel. VT Final Accounts produces accounts from
trial balance stage upwards. It also contains an optional extended
trial balance.
The program is produced by VT Software, Swan Centre, Fishers
Lane,London W4 1RX
The basic package of 5 templates, plus the receipts and payments
template costs £125.00 plus VAT.
The two optional extras, the consolidation template and the more
detailed endowment fund template are an additional £30 plus VAT for
each template.
License fees for additional computers up to three computers
30 % of the amounts paid for the first computer for each additional
computer
License fees for over three computers
10% of the amounts paid for the first computer for each additional
computer
Special arrangements
If firms require the template for the production of accounts for one
charity client only and are prepared to sign a professional undertaking
to the effect that they will pay the full amount if they ever use the
template for any other charity client at any time in the future, then a
special fee of £45 plus VAT (total £52.88) is available.
This special arrangement only applies to firms (including sole
practitioners) who have a partner who is a member of ACCA, CIMA,ICAS or
ICAEW holding a practicing certificate. The undertaking must contain
their membership number and be addressed to Peter Brown & Co and be
phrased as follows :-
‘I, J Smith ACCA or ACA, a practicing member of the ACCA/ICAEW, with
membership number …… hereby undertake that in consideration for your
licensing me to use your Charity Templates for the special fee of £45
plus VAT will only use those templates for the preparation of accounts
for one client only without time limit. I understand that on payment of
a further £80 plus VAT to yourselves I will be released from this
undertaking’
Annual maintenance charge
The templates are updated from time to time, and free updates will
be supplied to any user up to the 30th June or 31st December after the
first twelve months after purchase, and to secure updates thereafter
there is an annual maintenance charge of £35 plus VAT.
How to order
Please complete our ORDER FORM,
and send a cheque for your purchase to us, on the same day you place
the order, as we do not allow credit terms for software purchases.
If you have a query before you order, then please use the enquiry
form.
You will receive a CD by return of post, or a password to enable you
to download the information from the internet.
Unless a CD is specifically requested, we will supply instructions for
downloading from the internet.
Knowledge required and technical support.
Because it is assumed that many users of these templates not only
have a good working knowledge of Excel and VT, but also are qualified
accountants, then the help and support on the technical aspects of
these templates is limited. We are very willing to offer limited
telephone support on initial installation, and advice on technical difficulties
with the operation of the software itself. In practice, as the
templates are Excel based, we have found that very rarely has there
been the necessity for any detailed support although on occasion we
have referred users to VT for help with aspects specific to VT
Software.
However, in the past, we have found that because of the specialised
nature of charity accounting many users of the templates feel they need
the benefit of technical accountancy assistance . Peter Brown & Co
are able to offer an annual retainer for telephone support on technical
charity accounting matters for £100 per annum plus VAT. This will
entitle a user to up to four hours technical discussion per annum. On
more complex matters specific instructions would be taken.
If any user who did not take advantage of the annual retainer
required assistance on technical accounting matters, Peter Brown &
Co reserve the right to charge a professional fee for the time engaged.
Any purchaser of the templates would be advised when it was felt that a
fee basis would be appropriate and the fee basis would be discussed and
agreed before proceeding.
In addition to the above services, from our office based in York,
which is a maximum of three hours by road, air or rail from 80% of the
population of the United Kingdom, we can offer a prompt and efficient
accounts production service . Books and records can be sent to us by
courier, personal visits can be undertaken either by head office
personnel or by one of our locally based panel members.
As members of the AVN network of accountants, we are a part of the
National Campaign (http://www.thenationalcampaign.co.uk), whereby
members have committed themselves to giving away £20 million pounds
worth of professional services to UK business and the voluntary sector,
in the form of discounted professional services. Many services that we
provide will reflect a discount representing our contribution to the
National Campaign.
As with all our services, our fees are highly competitive. Our
offices are set in a rural location, and therefore we have low premises
overheads. This means that we are able to offer the highest quality
services, very often at the lowest price.
These factors, taken together, mean that we can accept appointment
as independent examiners, reporting accountants or auditors for any
size of charity wherever they may be based on a cost effective and
highly competitive fee basis. Alternatively, we can act on a
subcontract basis for another firm of accountants who may not have the
expertise or the desire to become involved in charity accounting.
