It’s that time of year; audit season is fast approaching and for many not for profit accounting staff it can be an ominous time. But we have a few helpful tips that we think can alleviate some of the stress. It’s all about being prepared and well-organised in the lead-up to your audit date.
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At Accounting For Good we love cloud-based accounting. It provides a myriad of benefits to our clients and enables us to offer an extensive service that can be tailored to suit any sized not for profit (NFP) organisation.
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Not for profit (NFP) organisations have unique aspects that might be surprising for a commercial accountant. There are specific standards that NFPs must adhere to, and a range of taxation differences. Plus, an NFP income stream is quite different to that of a for-profit corporation.
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Accounting For Good celebrates three staff anniversaries this month. Account Managers Glenn Murray and Jane Chen have both been with the company for five years and Kirsten Forrester, our CEO, has reached her ten-year milestone.
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At this point in time, your April accounts are about to be finalised and reports produced. If you have a 30 June year end, that means this is the second last opportunity you have to influence your FY19 accounts.
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Embarking on an accounting system upgrade can be a daunting task. The responsibility can be overwhelming for finance staff in any organisation. Accounting For Good can ease your stress and help you through the process, quickly and efficiently.
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Carol Tran, one of Accounting For Good’s Account Managers, joined the team in May 2018. After many years working in commercial finance she wanted a change. She was motivated to find a role in an organisation that had a deeper purpose.
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A quote we are fond of (but aren’t sure where it comes from) is “not for profit is a tax status – not a goal”. We couldn’t agree more and believe that not for profits can, and should, aim to make a profit in order to build financial reserves.
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As we head into April, and the final quarter of the June 30 financial year, many not for profits are starting to prepare for the annual reporting process, as well as turning their attention to budgeting and forecasting for the new financial year.
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In case you missed the headlines, at of the start of the new financial year July 1, 2019, all organisations with employees will have to report under new the Single Touch Payroll (STP) system.
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