Banking & Accounting

Bank Accounts, Record Keeping, Risk & Outsourcing

The core areas for the financial operations of your charity: from managing bank accounts and record-keeping to managing risk and financial controls. The aim is to strengthen your ability to manage your charity’s finances and put in place systems to protect charity’s assets.

This module will give you the knowledge, skills and practical tools to manage the essentials of charity finance. It includes:

  • How to set up a bank account, handle cash and make and manage payments
  • Record-keeping, book-keeping, balance sheets and reconciliations
  • Basic accounting principles and the roles and responsibilities of the finance function
  • The difference between restricted and unrestricted funds
  • Monitoring and internal reporting
  • How to manage risk, prevent fraud and understand your charity’s exposure to risk
  • How to design and implement good financial controls
  • Why should you consider outsourcing your financial support, such as book-keeping, payroll and account?
  • The pros and cons to working with an external provider
  • What do you need to consider when choosing IT and finance systems?


Resources on this topic

Charities are increasingly at risk of fraud, and this isn’t just limited to the small charities. This guide tells you what fraud is, how you can protect your charity and has some useful case studies.

The guide is intended to provide those operating within the sector with practical advice on how to implement a counter fraud framework.

Criminals are targeting all organisations, including charities, for their data which can be very valuable. Data protection breaches can not only be reputationally damaging but can also lead to fines. This guide helps you to understand the law and protect your charity.

This comprehensive template gives you all you need to manage your banking transactions and prepare your Receipts and Payments Accounts which is particularly useful for very small charities.

Nearly all charities will require a bank account. What type of banking services do you need? This guide will help you to think about what you need to make your legal obligations and get the right account for your charity.

This checklist will help you to understand your needs when you consider outsourcing your payroll (particularly if your charity has taken on a number of new staff). It also tells you what you need to provide to your payroll provider on an ongoing basis.


One way of managing risk is to get appropriate insurance. This factsheet tells you how to prepare to get insurance, what insurers are looking for and how you can best meet your needs.



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