Forum

• # 81951
• Tue 17 Apr 2012 07:34 AM

Hi,

Can anyone clarify where non-profit making organisations fit into the membership structure in terms of what you can & cannot do?

From a training perspective it was covered in Level 3 but how does an income & expenditure account compare to either final accounts for sole traders or draft final accounts for limited companies/partnerhsips?

Thanks in advance,

Jo  

• 
  Quote
  

• # 81996
• Wed 18 Apr 2012 03:16 PM

Hi JoG,

As far as I am aware (I hope someone will correct me if I am wrong) it will depend on the set-up of the charity/club

I work for a club , but it is limited, so I think that would mean that I have to be qualified to level 3 to do their draft final accounts. I guess if the club is not limited it could be done by a level 2? I have no experience with charities, so will not comment on their set-up

The day to day bookkeeping for any of these could be done by a level 2 or level 3. The income and expenditure accounts are similar to the profit and loss accounts on a businesses books.

This has been my experience anyway, but hopefully you will get other responses from others as well.

Regards,

Cheryl

• 
  Quote
  

• # 82001
• Wed 18 Apr 2012 04:43 PM

IN my opinion level 3 would allow you to prepare draft accounts including income and expenditure.

• 
  Quote