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Tier 4 Microsoft Excel template – Trouble shooting
By now many of you are getting stuck in to putting together your Performance Report for the year ended 31 March 2016. It’s been great to see how many people are using the tools on our website. We’re pleased to see that charities are using the Tier 4 excel template designed by the External Reporting Board(external link) (XRB). If you use this template correctly, you can be assured that you’re completing your performance report in accordance with the new reporting standards. We understand, however, that not everyone is familiar with the inner workings of Excel, and so we have provided some extra assistance to help you:
The Excel template is on our website, and if you are new to Excel, we have made a useful tutorial video which will take you through the basics of the template. We highly recommend you look at it before you get started - it only takes 20 minutes! If you decide after watching the tutorial that you don’t want to use Excel after all, we have also created Microsoft Word and PDF versions of the template which you can download and fill out. It just means you’ll have to do some manual adding up. These versions are on our website with the Excel versions.
I’ve been having a look at the returns coming in, and have compiled below a short list of the areas that people are having trouble with, with some suggested solutions:
There are usually a couple of potential reasons for this:
Some charities are registered for GST but want to report on a GST inclusive basis. This has not been given as one of the options in the template, because most entities that are registered for GST will report on GST exclusive basis. It’s fine to report on this basis as long as you state what you are doing. Go to the lists tab in the template, and under accounting policies, just over-type the last GST statement to reflect what you are actually doing e.g. “X Charity is registered for GST and amounts recorded in the Performance Report are inclusive of GST”.
Your Performance Report is available on our website for the public to see, so it’s worth spending some time on the presentation of the report as it’s an opportunity to market your organisation to readers. Here are some tips for making your report look nicer:
The template prepared by XRB is entirely optional and you are not required to use it, however, it’s a really useful tool to make sure you are presenting all the information you are required to. Remember, it will be the most difficult the first time you do it, and after that it will be a piece of cake! We are here to help, so make use of the resources on our website or give us a call on 0508 CHARITIES.