Statement of Financial Activities (SOFA)
Charity regulators recognised that the usual business-type profit and loss presentation fell short of fully explaining all of a charity's activities and some years ago introduced the Statement of Financial Activities (SOFA) as the major financial schedule for Charities.
Compliant SOFA reports in both Income and Expenditure (Accrual basis) and Receipts and Payments (cash basis) formats are available for Not for Profit entities set up on the system. See more information from the related topics link below.
SOFA Menu Topics
Where Anglican Church Options have been completed on the organisation profile a function to create an Annual Parish Finance Return is available