Supporting Your Non-profit's finance needs
Accounting for Good provides financial management services to non-profits and social enterprises across Australia. We provide a full outsourced service as well as short-term or one-off projects.
We have a highly trained and dedicated team of bookkeepers and accountants who specialise in the non-profit sector. We understand the challenges and the funding and regulatory environment of operating a non-profit at all levels of business maturity, from start-up to well established.
Outsource Your Accounting
AFG's team based approach ensures our clients have the right mix of skills available at the right time to meet their particular needs. We arrange our team to provide the right amount of bookkeeping, accounting and CFO support for each organisation. We know how difficult it is to get the breadth and right mix of skills in one person on staff (and then there are the hidden costs) - our approach ensures that there is always someone available to support you and that the right expertise is in place, whether it is payroll processing, a supplier query, technical accounting or management accounting and analysis.
Bookkeeping and accounting
AFG can take care of all the bookkeeping including payroll, supplier payments, employee reimbursements, credit card expenditure and sales invoices. We reconcile bank and credit card accounts and data from third party applications such as a donations gateway or membership database. All our Assistant Accountants are Xero certified and most are degree-qualified accountants. We can also work with your on-staff bookkeeper, providing the technical accounting and reporting expertise that might be outside of their skillset.
Our CPA or CA qualified accounting staff review and verify the accounts ensuring accuracy, completeness and compliance with Standards. They liaise with budget-holders regarding income draw-down, account for accruals and prepayments, manage fixed assets and depreciation, allocate shared costs and reconcile the general ledger. We ensure that the accounts provide a full and accurate view of the organisation's financial performance and position.
We work with our clients to determine key performance indicators – financial and non-financial – and incorporate these into the management reports, enhancing the organisation’s understanding of financial position and performance. Each period, to an agreed deadline that suits your information needs and meeting schedules, we prepare a suite of meaningful, accurate and timely reports for decision-makers. We support you to understand material variances and take appropriate action.
Accounting For Good will support you to develop budgets each year and to reforecast or revise as necessary. Our budget tools assist your team to develop comprehensive budgets by cost centre and activity to maximise the reporting capabilities of Xero and provide a guide to assess financial performance.
Compliance and Risk Management
We seek to keep our clients safe, and act as a 'fresh pair of eyes' to ensure all aspects of compliance are covered.
- Grant acquittals and regulatory reporting
- Monitoring internal controls
- Preparation for audit
- Tax and Super
- BAS, IAS, FBT, SCG
Accounting For Good was an early adopter of Xero's cloud accounting software - it is our preferred accounting platform for the efficiency and transparency it enables, ease of use (any device, anywhere, anytime) and the ability to support our clients in real-time. The integrated reporting platform and ability to engage managers with their financial information provides visibility and accountability and increases the richness of understanding about the organisation's financial performance and position.
Xero is a user-friendly software and the data conversion process has been supported by Xero and JetConvert for a number of years (long may it last!). Accounting For Good can help you get to competency quickly by bringing our comprehensive knowledge of Xero (and its add-on ecosystem) to your implementation project. We know it can be slow going while you learn your way around new software - AFG can short-cut that process and get you knowledgeable, comfortable and productive quickly.
Here's how we can help:
- Implementation of Xero and add-on software to suit your needs
- Assist you to refine your cost centre structure and chart of accounts to ensure you get the reporting you want
- Customise report layouts to suit Board, management and external stakeholder needs - no more wrangling data in excel!
- Assist you to develop and document new processes to best utilise the technology
- Training for both your finance team and end users
- Ongoing support through our AFG Help Desk - supplementing Xero's extensive online help library, our experienced Xero team will be able to get you over hurdles quickly.
Financial Systems Assessment
Are you frustrated by the time it takes to get access to financial information, or the gaps in management reporting? Baffled by the the lack of visibility over the financials when you can do your own banking via an app? AFG can review your financial systems and processes and help you move them to the modern era.
Our financial systems assessment takes a broad approach to reviewing your current finance systems and processes to reveal the strengths and weaknesses from compliance, process, risk and efficiency perspectives. We interview key stakeholders identified by you, observe finance processes in action and review policy and procedure documents as well as your current reporting output. We provide a report of our findings and make practical recommendations for improvements with a focus on improving efficiency and effectiveness and gaining the best utilisation of your resources.
- Short term financial management projects
- Customised policies and procedures using Xero
- Investigations of error and fraud
- An assessment of financial fitness for new funding (for funders and fundees)
- Implementation of the National Standard Chart of Accounts
- Update cost centre structure and customise Xero and Spotlight reporting
TRAINING & SUPPORT
We have learnt a lot in our 20 years supporting non-profit organisations - our training draws on that expertise and seeks to empower participants and build capacity and understanding.
- Understanding Financial Reports - bust the jargon and empower your Board or staff to understand financial reports and make good decisions based on a solid understanding of non-profit financial reporting. We can tailor a session to your organisation including using your own reports as examples during the training.
- Xero training and support - get your team to competency quickly or utilise our expertise to iron out wrinkles in your processes. Training can be provided in person or online.
Want to Know More?
We are always open to a no-obligation discussion about your organisation's needs. If you would like someone to call you to discuss options and how we might support your organisation, please get in touch.