Northern Territory Standard Chart of Accounts

The Standard Chart of Accounts (SCOA) makes financial data consistent across community organisations.

The Standard Chart of Accounts consists of a set of accounts that can be set up in most accounting software systems, and provides a data dictionary for guidance on how to process transactions and decide which transactions go to which accounts. The adoption of the use of the SCOA data definitions is compulsory for NT agencies in their reporting requirements of funded NGOs.

The SCOA was developed by the Australian Centre for Philanthropy and Nonprofit Studies (ACPNS), Queensland University of Technology (QUT) through extensive consultation with the non-profit community sector, government and other interested parties.

At Matrix we encourage all non-government agencies to consider adopting the SCOA where it is better than their current situation.

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.

Adoption of the national Standard Chart of Accounts (SCOA) was agreed to by the Council of Australian Government (COAG) in April 2010. The SCOA provides a common approach to the capture of accounting information by Not-for-Profit (NFP) organisations, enabling government departments and other funding bodies to talk the same accounting language as NFP organisations and their advisors. It also provides for minor variations in account categories for use in each jurisdiction to ensure consistency with jurisdictional fundraising and gaming legislation.

Northern Territory Standard Chart of Accounts

Use of the national SCOA data definitions in reporting will be mandatory for Northern Territory Government departments and agencies for all new funding programs with NFP Sector organisations, effective. 1 July 2011.  The financial acquittal information using the SCOA data dictionary definitions will commence with the December 2011 Report due 28 February 2012.

Implementation of the national SCOA will not be mandatory for NFP organisations.  Organisations can continue to use their existing chart of accounts. However, by aligning their existing charts, NFP organisations stand to benefit more fully from the reduction in administrative burden the national SCOA offers.

To assist Northern Territory Government departments and NFP organisations with the adoption of the national SCOA, the following support is being provided:

• Two interim implementation support tools that will act as a guide for NFP organisations and funding departments and agencies:
  • Video Training
  • Manual
• A copy of the NT SCOA and Data Dictionary
• The NT SCOA financial acquittal statement template
• A SCOA Help Desk (provided by Matrix on Board), to operate from 1 December 2011 to 30 November 2012. The Help Desk can be contacted via email: scoa@mob.com.au or telephone: 1800 628 749.
• Letter advising of the new financial acquittal arrangements for service agreements and the national standard charge of accounts, click here for a sample of the letter.