ACNC’s national NFP accounting tool

Managing finances can be hard for NFPs due to a lack of manpower and funds. This lead to an online tool being created in order to help NFPs manage their accounting.

The NSCOA, a nationally recognised accounting data entry tool and dictionary for NFPs, was developed by the Queensland University of Technology, and was given to the Australian Charities and Not-for-profits Commission (ACNC) to manage in June 2013.

Charities and not-for-profits are invited to give their feedback on the national regulator’s free not-for-profit accounting tool.

ACNC Commissioner, Susan Pascoe, encouraged charities and not-for-profits to share their experiences with the NSCOA through a new survey.

“The ACNC is always keen to ensure the resources we provide meet the changing needs of the sector,” Pascoe said.

“By taking just five minutes to share your views on the NSCOA, you will help guide the ongoing development of the data dictionary.

“The survey results will also help us to produce new resources for the sector.”

The NSCOA offers a common approach to the way not-for-profits record and report accounting information by simplifying and improving the consistency of accounting categories and terms.

“The NSCOA was introduced to make it quicker and easier for charities to meet their reporting requirements for all levels of government,” Pascoe said.

Professional advisers, accountants, grant makers and government agencies are also invited to participate in surveys on their experience with the NSCOA.

“There are a variety of organisations using the NSCOA, and we’d like to hear from as many as possible,” Pascoe said.