When you’re operating a charity every penny you get in donations helps you support your cause and keep your charity running, that’s why managing your finances is so important. Whether that’s knowing how much your fund raising efforts are working, or seeing how close you are to raising the funds for that special project.
New gift aid legislation means you can now claim back more money from HMRC, so it’s even more important to make sure that you’re recording the right information about your donors and your small donations.
In 2015 there have been a number of improvements made which make trading as a charity, recording and reporting on donations an easier task as well as keeping up to date with legislation changes.
One of the first changes to 2015 is in the customer record; there is now the ability to store more information on the donor including their name.
Another change to 2015 is the ability to set and specify the thresholds your company trades under for Gift Aid and Small Donations. April 2013 brings a change that allows charities to collect Small Donations of up to £20 without having to complete a gift aid form, 2015 supports our customers with this transition.
A new report has been created to pick up gift aid and small donation transactions. This report can then be used to submit figures to the HMRC by uploading the correctly formatted spreadsheet.