Standard Chart of Accounts Project

Matrix On Board is working with the NSW Department of Community Services to inform the Human Service government agencies and all the NGO funded services about the benefits of adopting a Standard Chart of Accounts.

While standards of financial processing and reporting have increased across non-profit agencies over the past 20 years, and financial literacy amongst decision-makers has improved, there has remained a lack of consistency in the accounting categories and terms required by government departments in their funding relationships with non-profit organisations. This has meant unreliable data and difficulty comparing the financial statements submitted by non-government organisations, as well as significant compliance costs for community organisations, especially those with more than one source of government funding.  The Standard Chart of Accounts Project aims to make financial data consistent across human services community organisations.

The Standard Chart of Accounts consists of a set of Accounts, which can be set up in most accounting software systems, and a data dictionary which provides the guidance for how to process transactions and to decide which transactions go to which accounts. Adoption of the Chart by community organisations is voluntary.

While the Project has its origins in Queensland, it has been supported by the NSW Department of Community Services as the lead agency amongst the Human Services CEOs. The Project has undergone consultation amongst government and non-government agencies, amongst decision-makers and accounting practitioners in these agencies.

The Project is being delivered by Matrix On Board and the Centre of Philanthropy & Nonprofit Studies (CPNS) at Queensland University of Technology.

A number of workshops on the Standard Chart of Accounts are being held across NSW. Following the workshop series, a support Hotline will be established and operate for 6 months. This support Hotline will offer general advice, and will also assist non-profit bookkeepers and administrators in the technical aspects of updating the Chart of Accounts to the SCOA within the organisation’s accounting system.

The process for getting assistance will be through an email to scoa@mob.com.au, and/or a form on a web page at www.mob.com.au, and/or a person-to-person phone call, and/or use of the FAQ at the SCOA website at www.mob.com.au or the CPNS website.

The Stages of the Project are to:

• Hold a series of consultations with Government and NGO representatives
• Develop and test a sample SCOA.
• Agree the final SCOA
• Disseminate the SCOA, with 'how-to-guides' etc
• Deliver training around the state about the SCOA
• Provide Help Desk support to the adoption of the SCOA in agencies.

Kate Rich from is coordinating this Project for Matrix On Board.

For further information

Contact	:	Matrix On Board
Phone	:	02 9281 1700
Email	:	scoa@mob.com.au

WWW

:

http://www.mob.com.au (follow the links to the Chart of Accounts project)