Cloud Accounting™

Cloud Accounting is a ‘no manual’, internet-based accounting service. The service provides best practice financial management to non-profit organisations via secure and access-anywhere software. As Cloud Accounting services are delivered via the internet, there are no geographical constraints.

Using Cloud Accounting, Matrix on Board will guide, support and mentor your organisation’s finance team to  ensure professional, accurate and transparent financial practices are implemented.

Why should my organisation use Cloud Accounting?

Good quality financial management can be challenging for non-profit organisations particularly those who:

• Are geographically remote and have difficulty accessing professional, quality, reliable bookkeepers and accountants (such as organisations in rural, remote and Indigenous communities)
• Have a small number of staff where the focus is on service delivery, not bookkeeping and accounting
• Have staff who would benefit from mentoring and support from a financial management team
• Need high quality bookkeeping and accounting and useful financial information

Cloud Accounting means that non-profit organisations have a timely and accurate accounting system to help meet accountability, compliance and legislative requirements.

What is the advantage of using Matrix?

Matrix has supported non-profit organisations across Australia since 1997. Our team includes qualified financial management staff and experienced consultants who work with your organisation to create tailored solutions based on needs.

Matrix specialises in working with non-profits and is committed to building and growing the financial literacy and capacity of Boards and staff. We provide a ‘second set of eyes’ over your accounts, helping to reduce financial risk by offering professional, independent and objective advice.

We will work with you to develop and improve:

• Your understanding of the financial position of your organisation
• Monthly and quarterly financial reports
• Budgeting and forecasting practices
• Cost centre performance reports
• Reconciliation of accounts
• Payroll management
• Acquittal reports for funders and donors
• BAS, PAYG, FBT and other tax reports
• Audit preparations and Statutory Accounts
• Financial information for grant applications

Our Cloud Accounting Clients

BushMob (Alice Springs)

BushMob, a non-profit organisation with twelve staff based in Alice Springs, run programs for young Indigenous people who are at risk of being disengaged and marginalised. BushMob provide housing, counselling, support and ‘Bush Adventure Therapy’ for young people who may be subject to substance abuse, violence, unsafe living environments and disempowerment.

Like many remote organisations, BushMob faced a difficult situation when their Finance Manager left the organisation. With a limited pool of qualified financial staff in Alice Springs, replacing the Finance Manager was a challenge. Cloud Accounting allowed BushMob to recruit a replacement with a broad range of skills rather than just financial qualifications. Cloud Accounting, along with mentoring from Matrix meant that BushMob could streamline and simplify their accounting processes.

‘Local bookkeepers and accountants around here are flat out so they’re hard to access…and they charge like wounded bulls! Cloud Accounting gave us freedom in recruiting as we didn’t have to go for financial qualifications alone. We were able to give the opportunity to someone who wouldn’t normally have been considered for a finance role.’ Will MacGregor, Director, BushMob, Alice Springs NT

Australiasian Union of Jewish Students (AUJS)

The Australasian Union of Jewish Students (AUJS), an organisation with three staff based in Sydney, is the body for Jewish student societies at university campuses in Australia and New Zealand. They provide a wide variety of political, social and educational activities, along with their ‘Israel Programs’ that send hundreds of students to Israel each year.

AUJS required an easy to learn and simple to use accounting system to process their donations and program payments. They did not have the resources to recruit a specialist finance officer and they were reluctant to learn all the intricacies of MYOB. They started using Cloud Accounting, along with support from Matrix to help calculate their tax obligations and prepare their monthly financial reports.

‘Cloud Accounting has meant I  could take on the accounts, even though I had no bookkeeping experience – a simple tutorial was all I needed! The system is user-friendly and professional. Being able to see the reports and accounting capability is a very powerful tool for non-profits like us.’  Mark Fischer, Executive Officer, AUJS

To watch the Cloud Accounting Video and learn more, click here

To talk to a Client Manager about Cloud Accounting, contact Alex Cowell on 02 9281 1700 (alex@mob.com.au)

Watch this brief introduction to Xero, your Cloud Accounting platform: