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 four templates :-
Exempt from scrutiny
The Independent Examination on an accruals basis
The Independent Examination on Receipts and Payments basis
Unincorporated charity audit
For incorporated charities there are five templates
Exempt from scrutiny
The independent examination up to £250,000
The independent examination over £250,000 (The 'professional' examination)
Audit of an incorporated charity up to £6.5 million income under the Charities Act
Audit of an incorporated charity over £6.5 million income under the Companies Act
The templates also have their equivalents under Scottish Law
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 £130.00 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
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 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.
