Cloud has silver lining for theatre

Tait Walker associate partner Simon Brown, left, and Lisa McGeary,  financial officer at Alnwick Playhouse Trust.
Tait Walker associate partner Simon Brown, left, and Lisa McGeary, financial officer at Alnwick Playhouse Trust.
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Not every cloud really has a silver lining, but new software being offered by North East accountancy firm Tait Walker does, according to the Alnwick Playhouse Trust.

Staff at the entertainment venue say the software is saving the arts centre time and money.

Tait Walker, the largest independent accountancy practice in the region, recommended online accounting software package Xero to help the cultural charity manage its finances more effectively.

The trust’s Financial Officer Lisa McGeary worked with Tait Walker Morpeth Branch Manager Stuart Moody to introduce the system.

Mr Moody said: “There are unique benefits that Xero can bring to the financial process specifically for charities.

“Tracking of the charity’s funds will enable the trustees to manage their finances more closely, and I look forward to working with Lisa as the new system evolves.”

Ms McGeary said: “Tait Walker took over as our auditor last year and identified that we would benefit from trying one of the new software packages available.

“Automatic bank feeds mean reconciliation is easier, we need to input less data than was previously required by existing systems, bulk processing of repeated transactions is easier, and the system learns to predict payment allocations.

“The big difference is that we get a real-time view of cash-flow wherever we are.

“Tait Walker has been great at assessing our needs, and advising us on our choices, as we develop our financial procedures.

“The new software will help us cope with the future changes that the Government is making on how charities manage their finances.”

Simon Brown, an associate partner at Tait Walker, added: “It’s great that the Alnwick Playhouse Trust has opted to try something new in favour of becoming more efficient.

“The new software will not only save time and money, but also help produce accurate financial information in a format a trustee can understand and evaluate, which is a challenge that many charities face.”