There are very specific rules for charity accounting, set out in the charity SORP The Charities Statement of Recommended Practice (SORP) - GOV.UK. Unless you are a very small community group it is best to find someone who understands these rules to help you prepare your accounts. That person will also be able to advise on HMRC charity tax benefits. One example is Gift Aid, where you can claim 25p every time someone gives £1 to your charity or community amateur sports club (CASC). The Charity Commission gives more information and how to claim here: Claiming Gift Aid as a charity or CASC: Overview - GOV.UK.