Victorian Standard Chart Of Accounts Training

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

The Standard Chart of Accounts consists of a set of accounts which 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 Standard Chart of Accounts makes financial data consistent across community organisations, and adoption of the chart is voluntary.

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 non-government agencies to consider adopting the SCOA where it is better than their current situation.

Victorian Standard Chart of Accounts

The Victorian SCOA is a Victorian Government initiative coordinated by the Office for the Community Sector that will reduce administrative burden for non-profit community organisations that receive funding from Victorian State Government departments and agencies.

The Victorian SCOA provides a common approach for non-profit community organisations when collecting and recording financial information and consists of a set of accounts, which can be set up in most accounting software systems. The full chart of account can be accessed at the QUT website.

The Victorian SCOA will be mandatory for Victorian State Government departments and agencies for all new funding programs with non-profit organisations from 1 July 2010. Implementation will not be mandatory for non-profit community organisations, which can continue using their existing chart of accounts. For more information see the Victorian SCOA Fact Sheet.

The Office for the Community Sector has engaged Matrix on Board to provide the following support to non-profit organisations wishing to adopt the SCOA.

Help Desk – 1800 628 749
A telephone help line will be open from 9am-5pm to answer any questions regarding the Victorian SCOA.

Email address – scoa-vic@mob.com.au
For organisations that require after hours service or would prefer to email any queries an email service is available.

Implementation Manual

The Victorian Standard Chart of Accounts Implementation Manual, Conversion Guide and Implementation Timing have been written specifically for treasurers and bookkeepers of Victorian non-profit community organisations. It has been designed to assist with the implementation of the Victorian SCOA while maintaining internal management accounts.
More information such the full list of accounts and data files for MYOB and QuickBooks can be accessed via the QUT website.

Frequently asked questions

Visit the QUT website for supplementary information such as FAQs and top 10 myths.

Online Training

Four web presentations have been developed to provide an overview of what the SCOA is an how to implement it in your organisation.

If you are having trouble accessing these files in flash format, please view them via the Matrix on Board YouTube channel

National Standard Chart of Accounts

On 7 December 2009, the Council of Australian Governments (COAG) agreed to the development and implementation of a National SCOA for use by governments in their activities with non-profit community organisations receiving government funds. The Victorian SCOA forms the basis of the National SCOA with the only differences related to state based legislation.

COAG has recommended that from 1 July 2010 each state and territory, where possible, implement a National (state based) SCOA. The year 2010-2011 will be used to harmonise the differences in state based legislation.

“To ensure that the regulatory burden on not-for-profit sector organisations is minimised, COAG agreed to allow these organisations to meet a range of requirements with one system of a Standard Chart of Accounts for not-for-profit organisations in receipt of government grants.”

For non-profit community organisations that have already implemented the Victoria, NSW, WA, ACT or QLD SCOA only minimal realignment will be required to then align with the National SCOA in 2011. State Governments will provide support in this process.

To find out more contact Matrix on Board on 02 9281 1700 or morri@mob.com.au or visit the Centre of Philanthropy and Nonprofit Studies https://wiki.qut.edu.au/display/CPNS/CPNS+Wiki+Home

NSW Update

The Better Regulation Office, at the NSW Department of Premier and Cabinet has issued an invitation to peak bodies and non-profit organisations to provide input about the national SCOA. We are very excited about this initiative and invite all NSW non-profits and funded organisations to take up the Office’s offer to provide feedback.

Please visit the NSW Better Regulation Office in the Department of Premier and Cabinet (Link)

Subscribers to Matrix e-news and our Twitter feed will be kept up to date about the progress of the national Standard Chart of Accounts.

ACOSS Analysis

The Australian Council of Social Services have provided an analysis on SCOA. Download the pdf file.