How we record and report on deferred income has the potential to confuse clients from time to time. A common question is what is deferred income?
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What are prepayments? Simply put, a prepayment is an expense paid early before receiving the benefit. Accounting treats it as an asset on your balance sheet rather than an immediate expense.
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Bank account name matching is currently on the agenda for most organisations, and the not-for-profit and charity sectors are not immune to the process.
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Many organisations implement Xero as their bookkeeping software to simplify day-to-day accounting. In this article, we explain the benefits.
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Meet Kathy Tung. Kathy is one of our outstanding Account Managers. Kathy has been with Accounting For Good since 2021
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Fraud is a problematic word, yet it is one of the more common financial crimes infecting organisations.
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A report tabled by Social Ventures Australia (SVA) and the Centre for Social Impact (CSI)—Paying What It Takes—outlines the sector’s financial concerns, particularly the funding of indirect costs.
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The Blackbird Foundation is doing incredible work with young people. Grants for individual projects and organisations in Australia and New Zealand.
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Ruff Track provides pathways for young people aged 11 – 17. Through caring for dogs, they help keep kids out of prison one paw at a time.
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When an organisation, including an NFP, purchases an asset, why is it capitalised rather than recorded as an expense?
Read MoreWe work exclusively with ACNC registered charities and Not For Profit organisations with a turnover of AUD$1 million or more. If your organisation seeks professional and customised accounting support and services, we’d love to hear from you. Complete the contact form and one of the experienced team members will contact you shortly.
If you want to establish a charity or NFP, please read our article “Thinking of starting a charity or NFP.” Accounting For Good cannot assist new entities or start-ups at this time.
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