Best Practices Financial Modelling for the sector

Back Office & Accounting Services

Sometimes referred to as the ‘Cardiovascular System’ of an organisation, the back office and accounting system is often the unseen, yet vital hero of healthy, thriving organisations. 

When the system is working efficiency and effectively, the organization can be empowered to greater outcomes and impact. Conversely, when it’s not running at optimal levels, ministry outcomes and good stewardship decisions can be impaired.

A challenge the world over for any ministry organisation is the fact these functions are not necessarily core to ministry outcomes. They certainly empower ministry, but oftentimes take considerable management and resource allocation that could be otherwise deployed toward direct ministry fulfillment. 

For this reason, CMAA is investing in this particular member solution to provide members with a best-of-class outsource solution that also empowers greater ministry outcomes.

Why Outsource?

Quite simply, it just makes sense. When something is your core business, you get very good and very efficient at it. You also become an expert in government, tax and banking compliance, charity, ATO and financial regulations, board and management reporting needs, donor management and donor care, invoicing, receipting, and product fulfilment and management… and the list goes on. 

Then there are the concerns and challenges of having this function as an internal competency.

How do you know you are hiring the right people for the role? What are their competence levels? Do they need to up-skill their training? Are they really capable of handling both donor care and accounting functions? What can one person reasonably handle in a working week? What about holidays and sick leave and superannuation?

All of a sudden, outsourcing looks like a very viable option.

It is for these, and many other reasons, that CMAA has negotiated a CMAA Member Service partnership with Financial Processing Solutions (FPS) based at Penrith in NSW.

Financial Processing Solutions specialise in managing repetitive processes that are linked to and require a financial result on behalf of CMAA Members.

Financial Processing Solutions Pty Ltd (FPS) is a privately owned company with over 25 years experience providing financial processing services for the not-for-profit sector. Clients include charities, not-for-profit organisations and commercial companies.

Located in Penrith, NSW, FPS employs a team of over 20 professionals comprising eight full-time employees, five part-time employees and 8–10 casual staff employed during peak periods as required. FPS also has 6–8 contractors available for different roles including accounting, payroll, IT and Database Maintenance, and support.

FPS Current Ministry Clients

• Good News Unlimited, Since 2014
• Samaritans Purse Australia, since 2001
• Samaritans Purse New Zealand, since 2001
• The Billy Graham Evangelistic Association Australia, since 2001
• Leading The Way Australia, New Zealand and Asia, since 2005
• Ambassadors for Christ Australia, since 2001
• Generate Ministries, since 2012
• MTS (Ministry Training Strategy), since 2013
• Christ Mission Possible, since 2013
• Olive Tree Media, since 2010
• Answers with Bayless Conley Australia, since 2006
• Answers with Bayless Conley Charitable Trust New Zealand, since 2006
• Hope Street, since 2011

Approach to Client Service

The FPS team has always approached work as an internal staff member of the client organisation. As a result, no reasonable office function or request is off limit whether it is delivering scheduled, on time financial or donor engagement reports or printing and mailing a single personal letter from the ministry CEO.

Because of the FPS culture and dedication to client service, there is also no perceivable separation to those who contact the ministry via phone, mail or electronically.

Available Services

Administration and Database functions including:

• Preparation of banking deposits.
• Processing of credit card donations via online merchant facilities.
• Daily checking of deposits against bank statements.
• Daily reconciliations of online and website donations.
• Data entry of donation batches into database systems.
• Uploading online and website donations into database systems.
• Handling all incoming donor phone calls – receiving and processing donations, queries and changes for donors and updating database.
• Prepare segmentation queries and reports.
• Preparing mailing lists for bulk mailouts.
• Donor income reporting and analysis.
• Product fulfillment and order dispatch.
• Daily or weekly banking reports.           

Bookkeeping, Accounting and Payroll functions including:

• Data entry of accounts into MYOB, Reckon (QuickBooks) or Xero.
• Entering accounts-payable entries; preparing EFT payment batches for ABA upload and approval to the bank.
• Preparing payroll batches on weekly, fortnightly or monthly payrun cycles including FBTE portions and upload ABA files to bank.
• Preparation and online portal lodgement for payroll PAYG liabilities.
• Preparation and payment of superannuation obligations including online remittance contributions with funds/clearing houses.
• Maintenance of employee records and asset registers.
• Monthly bank reconciliations.
  Preparation of Monthly Management reports including analysis reports.
• Budget preparation and analysis.
• Registered BAS agents for GST obligations preparation and lodgments.
• Preparation of Draft Statutory Financial Statements if required.
• Liaising with company Auditors and Tax Agents for year-end. 

Other services:

• Storage facilities available for stock and fulfillment items.
• Prepare and liaise with Westpac Bank Relationship Manager for Not-for-Profit Sector for services available to FPS clients.
• Daily mail pickup from Australia Post PO Boxes based at Penrith NSW Business Centre.
• IT maintenance support and assistance with database and general IT issues.
• Phone lines for your organisation and answered as your organisation.

For more information contact info@mediaarts.org.au