If you’re like me, you’ve owned, borrowed, or discreetly flipped through some version of the “for Dummies” book series. I own Wine Tasting for Dummies, borrowed Excel for Dummies from the library and listened to Spanish for Dummies on CD. I am willing to acknowledge that, occasionally, I don’t know everything. I need basic information presented in an easy format that actually helps me learn! I want something that answers my questions and I like to be able to flip back as needed to remind myself what I’ve learned.
If you are looking for information on keeping financial records for registered charities in Canada, you likely want the same things – easy-to-read basic information, quick reference sheets, and answers to your questions!
Charity Central has created a Financial Information Kit to fill this need.

 
The kit contains a series of frequently asked questions on financial reporting and registered charities. This includes answers to questions like:

• Once we’re a registered charity, do we need a professional accountant?
• What should we look for in choosing a professional accountant, whether volunteer or paid?
• How should the accounting records be set up so we can easily complete the Registered Charity Information Return (T3010)?
• Is it a good practice to have our financial statements audited by a professional accountant?
• What are the different types of services that a professional accountant can provide?

 
The kit also contains six tipsheets:

• Choosing a Professional Accountant
• Setting Up a Chart of Accounts for a Small Organization
• Setting Up Financial Books and Records
• Financial and Other Information Needed to Complete the Registered Charity Information Return (T3010)
• Getting Ready for an External Audit – What Can You Prepare?
• Other Tips on Working with your Auditor – Common Issues During an Audit

This kit is available for free download at www.charitycentral.ca/docs/financialkit-en.pdf.