Not for Profit Accounting Solutions In Townsville
Paragon Business Services understands the unique environment the not for profit sector operates in, including the range of compliance obligations, regulatory and governance requirements and financial issues faced by these organisations.
We have significant experience within the not for profit sector, spanning over ten years in Health, Aged Care, Professional Associations, Non-Government organisations, and Indigenous Medical and Community Services.
We can provide a fully outsourced service, partly outsourced, a virtual Chief Financial Officer service, as well as servicing short-term or one-off projects.
Bookkeeping
Paragon Business Services can take care of your bookkeeping needs, including data entry, bank and credit card reconciliations, payroll management, supplier payments, credit card expenses. We record and reconcile your income from a variety of sources including contributions, membership dues, program revenues, fundraising events, public and private grants, and investment income.
Accounting Services
At Paragon Business Services we understand that grant management is one of the most important aspects of not for profit accounting. If your organisation has funding from multiple sources, we can set up job costing to ensure each grant is managed individually, recording income and expenses, and job performance is tracked.
We can prepare program budgets and liaise with program managers regarding budget variances.
At year end we can finalise your accounts and liaise with your auditors, ensuring a smooth audit process and a result which meets both compliance obligations and detailed financial reporting to members and the community.
Paragon Business Service can also perform internal audits and ad hoc internal control reviews of your finance function, ensuring your finances remain transparent and legally compliant.
If your organisation is too small to have a Chief Financial Officer, then we can build this service into your engagement.
Compliance and Risk Management
Paragon Business Services can oversee your grant acquittals and other regulatory reporting. We can review your internal controls and finance policies and procedures
We can also help you with understanding the not-for-profit specific tax obligations and exemptions, including:
- GST Obligations: We can assess whether any GST concessions apply; prepare and lodge your Business Activity Statements and Instalment Activity Statements.
- Fringe Benefits Tax Obligations: Consider whether any Fringe Benefits Tax concessions apply and how Fringe Benefits Tax is applicable within your organisation.
Learn more about our expertise in the not for profit sector by calling 0405 454 435