I’m a happy user of Quickfile for my limited company, but now setting up a second account for an un-linked charity.
Could you explain, or point me do an explanation of, the difference between “Charity (limited)” and “Charity (non-limited)” when choosing to set up the new account with Quickfile?
What differs between the two, and what impact might it have? We’re actually registered as a CIO, which by my understanding is limited, but may not be what you mean when you say “Charity (limited”) - which may be intended for a charitable company limited by guarantee.
There isn’t a great deal of difference between the two.
When you opt for the “limited” option we sync up with Companies House to track your key filing dates. We’ll also include some specific nominal ledgers for limited companies for tracking the Directors’ Loan Account and Corporation Tax liability.
A Limited company charity in QuickFile adopts a model very similar to a regular limited company. A non-limited charity adopts a model similar to a partnership. In each case the Chart of Accounts can be customised in different ways to meet the specific requirements of the charity.