Money goes directly into the beneficiaries bank account. The - - PowerPoint PPT Presentation

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money goes directly into the beneficiaries bank account
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Money goes directly into the beneficiaries bank account. The - - PowerPoint PPT Presentation

Jan 17, 2023 243 likes •366 views

Advantages of not using cheques to pay beneficiaries, suppliers and salaries Money goes directly into the beneficiaries bank account. The beneficiary does not have to go to the bank. No perceived stigma at bank about paying in a

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Advantages of not using cheques to pay beneficiaries, suppliers and salaries

  • Money goes directly into the beneficiaries’ bank account.
  • The beneficiary does not have to go to the bank.
  • No perceived stigma at bank about paying in a cheque from a

charity

  • Better control over cash flow (nominated payment day and no un-

presented cheques)

  • Easier bank reconciliation
  • Reduced bank charges
  • Expensive stationery is not required.
  • Reduced postal charges if email remittance advice used.
  • More control over the whole process
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How do I get a beneficiaries bank details?

Ask them A member of staff from the Finance Department (not Welfare) says that the beneficiary has been awarded a grant which is paid by BACS into their bank account. Do not get into conversation about how much. We ask the beneficiary for their bank details by giving them the office phone number and asking them to return the call. The beneficiary will already have had a visit from a volunteer and phone calls from Welfare

  • Advisers. Our photographs and contact details are on the LionHeart

web site. Are the bank details they have supplied correct? Use PostcodeAnywhere to check them. Pay per click. www.postcodeanywhere.co.uk

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We haven’t got any money

  • SAGE Line 50 for 2users costs £1,000.
  • Charity version.
  • Create a creditors ledger account for each beneficiary.
  • Post an invoice equal to the grant.
  • Pay by BACS.
  • Email remittance advices.
  • A desk top scanner costs £300.
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SLIDE 4

And for even less….

  • www.paxtoncharities.co.uk/
  • www.payline.co.uk/
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SLIDE 5

Internet Banking

  • Available 366/7/24
  • Instant information
  • Free with at least one bank.
  • Information that is available to many not just one paper bank

statement.

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SLIDE 6
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SLIDE 7
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Alternative Donation Methods to Cheques

  • Cash – Tight control over collection boxes and count in the office.
  • Credit Cards – LionHeart accepts online donations by credit card.
  • Standing Orders – LionHeart uses these but will convert to Direct

Debit wherever possible.

  • Direct Debit – LionHeart will accept Paper and Paperless Direct

Debits.

  • Charity Vouchers – LionHeart accepts these.
  • Bank to Bank transfers – some donors use this.
  • Just Giving – LionHeart uses this
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SLIDE 9

In the future

  • Phone bank to make donation.
  • Mobile phone donations.
  • Paper transactions at bank but probably higher cost.
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SLIDE 10
  • Questions any one?
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SLIDE 11

Contact details

  • Melora Jezierska

Melora.Jezierska@cfdg.org.uk

  • Roger Chester
  • rchester@lionheart.org.uk