Over £750 million is given each year to PCCs to support their mission and ministry, and it is important we give account for that which has been entrusted to us. By producing an annual report and accounts, we are not only complying with the law, but also fulfil a part of the stewardship which we exercise corporately as a PCC.
What are receipts and payments accounts?
Providing the gross annual income of your PCC is less than £250,000, you can choose a simpler form of accounting called ‘receipts and payments’. This type of accounting focuses on the cash movements in and out of the PCC’s bank accounts during the financial year.
The PCC Accountability Guide (5th Ed.) Chapter 4, offers guidance on producing receipts and payments accounts for your PCC.
This guidance will help you produce three of the four reports you will need for your annual report and accounts:
- Trustees annual report
- Receipts and payments account
- Statement of assets and liabilities
The fourth report you will need is the independent examiner’s report.
The Charity Commission have produced a Receipts and payments accounts pack (CC16) which provides templates to help you prepare your receipts and payments accounts and trustees’ annual report.
Got a question? have a look at this list of frequently asked questions.
Accounting software
There are various software products available that PCCs can opt to use to support them with managing finances.
Data Developments is the official church accounting software partner of the Church of England.
MyFundAccounting is online accounting software specially designed for church treasurers. Record all your accounting transactions and funds; submit Parish Returns at the push of a button; produce a range of church and charity specific reports such as the trustees’ annual report; as well as print or email invoices.
MyGiving is a donations management system designed to work with the Parish Giving Scheme and Give A Little to support parishes with submitting both Gift Aid and GADS claims directly to HMRC.
Church of England parishes are eligible for the discounted rate of £10 per month for both programs (usual cost of £15 per month each), as well as access to their full range of training videos and technical support (usual cost of £150).
A free 30 day no obligation trial is available before opting to continue at the exclusive discounted rate.
Related pages
Registration with the Charity Commission
Last updated
First published July 2012
Last updated June 2024: updated links, revised layout, MyFundAccounting information