On this page:
This section has information to help you effectively manage money and be accountable to your stakeholders - including your funders, board, Inland Revenue, the Charities Commission and the public.
This can help your charity to:
- ensure the appropriate and effective use of funds
- give reliability to your use of funds
- avoid unexpected compliance requirements
What accounting standards should we be working towards?
These resources provide technical guidance and processes to make your financial reporting easier and more compliant.
Reporting guide & checklist
The New Zealand Institute of Chartered Accountants Not For Profit Reporting guide and disclosure checklist is used in conjunction with sample financial statements in preparing NZ IFRS compliant financial statements.
Sample financial statements
check to see whether your organisation has a filing obligation under the Financial Reporting Act 1993, by using the Ministry of Economic Development's interactive guide.
What are some of the principles of good record keeping?
Keeping accurate records is essential for many reasons
to save time and money, be transparent and accountable, and to keep a true and accurate record of your activities. These resources provide some guidance.
The role of a treasurer
The Institute of Chartered Accountants looks at financial administration from the treasurer's perspective and lists what they should be tracking.
OurCommunity.com.au provides in-depth information about what's expected when handling charitable finances on its web page Record-keeping for treasurers.
The Free Management library explains the difference between cash and accrual basis accounting, amongst many other points on non-profit bookkeeping.
Inland Revenue's web page on keeping records explains the records your organisation is required to complete - such as banking information, proof of income and expenses, cash books and wage books.
How can we improve our planning and management of finances?
A financial plan shows what your total income and expenditure is likely to be and when money will be required. Knowing your needs will help your operational and strategic decision-making, and help you day to day. These resources can help you achieve this goal.
The CommunityNet resource kit introduces you to budgeting and the cashflow forecast which are key components to a good financial plan.
The SPARC Club kit's financial management page outlines the financial processes your club will need to run successfully.
National Council for Voluntary Organisations (UK) sets out objectives, goals, action plans, mission, strategy, and quality: what you need to know about financial planning for your organisation.
KnowHow NonProfit provides questions you need to answer to develop a financial strategy for your organisation.
Financial help sheets and resources
Where can I get help on taxation for charitable organisations?
Inland Revenue talks about what returns to file, what records to keep and how to register a nominated person on their webpage Keeping records and filing returns.
Keeping it Legal has an overview of the tax rules that apply to various types of organisations. It also explains how organisations can become tax-exempt.
Accounting for tax
the New Zealand Institute of Chartered Accountants outlines tax regulations that may arise from your activity as a charity.