Blog - Accounting and Bookkeeping News | Accounting for Good

Xero cloud-based accounting

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.

What is NFP accounting?

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.

Celebrating staff anniversaries

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.

Be prepared for June year end

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.

Update your accounting system

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.

My first year with Accounting For Good

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.

Building financial reserves

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.

Budgeting – forecasting the future with confidence

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.

Are you ready for Single Touch Payroll?

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.

December year end? Well, Happy New Financial Year!

If you’re one of those organisations that closed off your 2018 financial year at the end of December, no doubt right now you’ll be busy checking your data, perhaps finalising a stocktake, reconciling your accounts and preparing your financial year end reports, ensuring employee entitlements are up to date and the Balance Sheet reflects your position correctly.

NFP Accounting Articles