Accounting 4.1 Charities Edition released

To help registered Charities with the new compliance requirements, we released an updated version of our accounting 4 spreadsheets for Charities.

The new version allows users to categorise their accounts to correspond with the annual Charities return. Reports can be run in either Tier 3 or Tier 4 format. We are quite pleased with fine-tuning the accounting behind these reports, such as identifying whether GST is an asset or a liability in the given circumstances and identifying asset purchases and sales correctly irrespective of how the user has used their asset accounts for these. These particular algorithms now produce more accurate results than the comparable reports in Xero, MYOB or Quickbooks.

Our method of assigning Charity categories to accounts is also unique and not available in commercial accounting software. The only commercial accounting software producing Charity reports is Xero, however they require you to classify your accounts manually at the end of the year to generate those (and the functionality is not available to all users).

Some further improvements to reporting are planned for the future, as well as the release of training videos on how to use our spreadsheets. You can download the new versions here.

We are more than happy to switch existing CCA clients over to the new versions if they wish.