Xero and Donorfy
Good financial management relies on good systems that have been set up well and provide a charity with the information they require in an efficient manner.
Good financial management relies on good systems that have been set up well and provide a charity with the information they require in an efficient manner.
Charities require information slicing and dicing in ways that for profit organisations don’t need to think about.
Institutional and trust funders require up to date information on how the funds they’ve given have been spent, donors want to know how much you spend on fundraising or overheads, and charity accounts are presented on an entirely different basis to corporate accounts – there’s no traditional sales and gross profit, but instead the SORP to comply with. Your finance systems need to be able to not just cope, but thrive in this environment.
As a result, we’ve partnered with two key software providers to enable our clients to get the best systems possible for them moving forward.
Xero accounting software
We’re proud to be a Xero silver champion partner and have been partners since 2017. We have staff members who are Xero advisor certified, as well as those who are Xero payroll certified. We believe it is the best for small charities, having tested all the major accounting systems – it’s incredibly flexible with a fully customisable basic reporting element, allowing us to design report templates specifically for you that give you a 360 and live view of the finances of the organisation at any time.
We can ensure you have reports showing cashflow, budget vs actuals, expenditure against individual funders and pretty much anything else you might require. All can be set up in such a way that they can be refreshed by anyone with system access at any time, allowing you to see live figures. It can also be set up to automatically bring in your bank transactions, speeding up input and reconciliations.
Most importantly for you, it has a fully customisable tracking system allowing you to track performance in any number of ways and not just by account code. This allows us to entirely tailor the set-up to any client.
We also work with several Xero certified applications to provide additional services where required.
These include:
- Expensify – for full staff expense and credit card management
- ApprovalMax – for fully customisable purchase invoice and other approval workflows
- Soldo – for fully integrated pre-paid debit cards for staff on the move
See our case study from The Cinnamon Network for an example of how this works in practice.
Donorfy donor management software
Having spent years in the sector and supported fundraising teams we know how important it is for fundraising and finance to be speaking the same language, and also how rarely they agree on figures! Overall, this boils down to having a donor management system that is financially robust but also talks to the finance system.
We specialise in supporting charities who want to use Donorfy alongside Xero and have set up our own import and reconciliation templates to support this. We also worked with, and advised the team at Donorfy to set up a permanent API link between the two software programmes – a brilliant step forward for charities who want to have fully integrated and reconciled systems.
