CBB Financial Support Services

A Boards of Management now have stricter legal responsibility for the financial integrity and performance of their organisations. They have to ensure, through the organisation's management, that there is compliance with legislative requirements and high level financial accountability.
There is also increasing pressure from funding bodies, members and the public for organisations to meet more comprehensive reporting standards and to demonstrate financial diligence.

The Community Business Bureau provides Financial Services which assist organisations to manage their financial obligations in a professional and cost-effective way.

Assessment of Financial Need
CBB Consulting undertakes an initial assessment of the financial needs of the organisation given the transaction and management requirements of the organisation from now into the future. The financial needs may relate to systems, practices, processes, and procedures involving bookkeeping, accounting and finance.
A comprehensive, well articulated financial and administrative system needs clear practices, processes and procedures to be established and/or reviewed to ensure consistency with management requirements. Accordingly, CBB Consulting can assess the functionality of financial and administrative systems of your organisation.

The assessment may identify the following range of issues:

• Identifying system adjustments and changes;
• Developing staff training needs and mentoring requirements;
• Establishing chart of accounts and transaction management processes;
• Developing accounting and financial reporting processes; and
• Formalising new policies and procedures.

Areas that would be assessed closely, for the purpose of ensuring there were clear practices and processes in place between the financial and administrative systems include:

Short/Longer Term Financial Support

Short Term
CBB Consulting can assist with any urgent transactions relating to debtors and creditors. This may include:

• ensuring all relevant aged transactions have been processes to generate revenue and/or pay outstanding invoices;
• manage payroll transactions;
• Processing related transactions to MYOB accounting system.

Longer Term
CBB Consulting can establish the transactional requirements that should be undertaken on a regular basis. This would include what is listed as short term (above), as well as what is listed below:

• Bookkeeping Activities (comprising Individual transactions, payroll transactions, bank reconciliations, relevant statement reconciliations)
• Accounting Activities (comprising end of month general ledger adjustments, general journal adjustments, monthly reports, grant acquittals, variance identification)
• Financial Activities (budget development, end of year analysis, audit preparation, monthly financial analysis, account analysis where there are major variances, recommendations for account management)

Accordingly, CBB offer tailored services which ensure:

• confidentiality
• security of data
• professional standards
• timelines of response
• customer focus

an understanding of the not-for-profit sector.