After completing your expenditure accounts, you need to add your current assets (bank accounts, building society accounts etc.) and any fixed assets and / or liabilities you have.
As you add these in almost the same way we will look at the Current assets to explain the process:
Click the Current assets button on the Nominal accounts page. You will see the following screen:
Click the ‘Add new’ button at the top of the page:
You will now be able to enter a new current asset on the screen shown below:
This screen asks for a code and description as before but rather than a SOFA Heading you are now asked to choose a class. To do this:
Click the Class drop down menu and select the appropriate class. If you are unsure, which class to choose you can find guidance by going to www.charitysorp.org.
You will see that there is also a Next cheque number box which enables you to insert the cheque number you are using for that account if you wish. You can also enter the information for the bank account -this is useful but not necessary.
The ‘Warnings’ boxes simply enable an alert if the bank balance goes over or under the amounts that you have set here. To save the current asset code:
Click the save button at the bottom of the window. If you want to add more:
Click the new button at the top of the current assets page and continue.
When you have added all your current asset codes close the screen.
Complete the same process for any Fixed Assets or Liabilities you have. You will see that Fixed asset and Liability codes do not require cheque numbers or Warning boxes.
Note
You can edit account headings at any time. To do this:
Click the account that you want to change.
Click the edit button next to the code:
Make the changes then:
Click Save at the bottom of the window:
