The Victorian Standard Chart of Accounts, or SCOA, provides a common approach for NFP community organisations when collecting and recording financial information. It consists of a set of accounts, which can be set up in most accounting software systems.
Matrix on Board has been supporting NFPs around Victoria, South Australia and Western Australia to adopt the SCOA through a series of workshops and webinars, as well as providing valuable resources to assist these organisations in their transition to the SCOA.
The results of an independent review of the implementation, have been published, showing that 87 percent of NFPs were satisfied with the tools provided and a further 80 percent found the implementation easy.
Pro Bono Australia’s article provides a compelling overview of the review, and the full report can be located by clicking on the article linked here.
SCOA resources are easy to locate within ‘Our Projects’.