National Standard Chart of Accounts
The Victorian Standard Chart of Accounts (SCOA) was an initiative coordinated by the Office for the Community Sector that to reduce administrative burden for not-for-profit (NFP) community organisations which receive funding from Victorian State Government departments and agencies. Since its development the Commonwealth Government, through the Council of Australian Governments (COAG), has adopted the Victorian SCOA as the basis of the development of the National SCOA which is mandatory in all states and territories in Australia.
The National SCOA:
- was developed by the Queensland University of Technology (QUT), and the full chart can be accessed at the UT website
- provides a common approach for not-for-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
- has made accounting terms and definitions uniform throughout Victorian departments and agencies, simplifying and streamlining the financial reporting requirements for not-for-profit community organisations
- is mandatory for Victorian State Government departments and agencies for all new funding programs with NFP organisations. Implementation will not be mandatory for NFP community organisations, who can continue using their existing chart of accounts.
For more information:
- read Victorian Standard Chart of Accounts Implementation Manual (PDF 332 KB) or (Word 489 KB)
- complete online training available on the Matrix on Board website, and view the Victorian Standard Chart of Accounts Implementation Manual and Conversion Guide
- read information about implementing a standard chart of accounts on the QUT website
- visit a blog moderated QUT which is a place for nonprofit organisations, government staff and advisers to nonprofit organisations to discuss issues
- email – scoa-vic@mob.com.au
Help line phone support 1800 628 749 between 9am and 5pm.
SCOA Post Implementation Review
Following the roll-out of the Victorian SCOA, a review was undertaken of the implementation. The Post-Implementation Review (PDF 318 KB) or (Word 1 MB) focused on:
- quantifying the benefits delivered by the Victorian SCOA to Victorian NFP community organisations
- conducting a qualitative assessment of the implementation process to understand and identify key success factors and learnings that could be applied to future initiatives.
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