So how can you determine if you have the right team in your NDIS, Allied Health or not-for-profit business?

Well, here’s some thoughts:

First you need to evaluate your team.

So, look at:

Skills and Qualifications:
Do your staff have the necessary skills and certifications. Check their work and contact the bodies that issued their certifications

Cultural Fit:
Do your team members align with your organisation’s values and mission. What do your staff value and do these align with the business?

Performance and Feedback:
Regularly review performance and gather feedback from clients and peers.  Have a performance review framework that checks in at least quarterly with staff.  Use a survey and calls to clients to understand what your clients think about your business.

Next, we look at what we need to do.

Here are 3 tips to resolve staffing issues:

Training and Development:
Invest in ongoing professional development to keep your team updated with the industry standards.

Effective Communication:
Open communication by having regular meetings and providing feedback to address issues early.

Recruitment Strategy:
Revise your recruitment process to attract the right talent with clear job descriptions and thorough interviews.

AccordinHaving the right team working with you ensures a cohesive, skilled, and motivated team dedicated to providing exceptional care to your clients.

If you need help with asking the right questions and assessing a candidate's suitability, I am available to support you with this important task.

Just reach out below https://bit.ly/HPAACall!

#NDISProviders #RecruitmentTips #BusinessSuccess #Higherpurposeaccounting

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You see, many business owners are so focused on delivery, they neglect to properly keep track of their expenses.

As a NDIS provider, managing finances is crucial to ensuring the sustainability and growth of your services. Yet, we still ask ourselves, “Where did my money go?”

Here are some essential tips for NDIS Providers:

1. Detailed Record-Keeping: Maintain accurate and detailed records of all transactions. This includes invoices, receipts, and payroll records.      Regular audits can help identify discrepancies early.
2. Budget Wisely: Develop a comprehensive budget that outlines expected income and expenses. Regularly review and adjust this budget to
reflect changes in funding or operational costs.
3. Monitor Cash Flow: Keep a close eye on your cash flow. Ensure that your income covers your expenses and allows for savings. Cash flow
projections can help anticipate and mitigate potential shortfalls.
4. Use Accounting Software: Invest in reliable accounting software tailored for NDIS providers. These tools can streamline bookkeeping,
manage your people, generate reports, and provide real-time financial insights.
5. Regular Financial Reviews: Conduct regular financial reviews and involve your team in the process. This promotes transparency,
identifies opportunities and collective accountability.

By implementing these strategies, you can gain better control over your money, ensuring that it is used effectively to provide high-quality support and services to your participants.  You'll no longer be thinking “Where did my money go?”, because you'll know exactly where it is going!

You know, I have a Financial Fitness group where we work on these areas and much more. I am taking in the next group of people so if this interests you, join the waiting list here: Find out more

The post She said: “Where Did My Money Go?” appeared first on Higher Purpose Accounting.

Separate personal and business finances completely

That dinner you had wasn’t part of a meeting with client, yet you used your business card. Those computers that you bought were meant for work, but you ended up using your personal payment card. Yeah, you can pay yourself back from your business or pay back to your business from your personal account. But DON’T!

It’s that simple.

Personal and business finances should never ever be mixed together whatever the circumstances may be. Generally, when you spend on your business, you should record a transaction. If you don’t or if you combine personal and business finances, then things can become a pain pretty soon and it will be hell for you to track down all the expenses.

So, separate the two accounts right from the start and you’ll be saving yourself a good amount of time and pain in the future. And let’s not forget that this will be a huge help when you lodge your tax return.

Organise yourself!

For organising your finances that is. Spend around 15 to 30 minutes every week and the only thing that you should be doing during this time is to sort out your finances and make sure that they are in proper order.

And by the way, this little activity can even help you gain insights especially if you make good use of your accounting system.

Track salaries

Yes, there is a need to mention this separately. Whether you are the only one working or have a team of staff, track costs associated with salaries, benefits, leaves, overtime and other relevant expenses separately.  This will let you know if your labour costs are within the budget or outside it. Accordingly, you can decide if you should spend more on incentivising your team or if you need to cut down on some benefits.

Consult the professionals

We mentioned this at the start of our discussion, but let’s talk about it again for emphasis. Accountants are a vital part of any team.  They are an expert in maintaining accounting and finance systems and have done it for so many businesses just like yours. They know exactly what works, what doesn’t and which deductions you should utilise.

Agreed, you may want to refrain from hiring an accountant for anything other than tax and other compliance areas, but trust us, bring a professional accountant and trusted advisor on board and the improvements made will more than compensate for the investment!

So, there you have it - Separate, Track, Organise and Consult.  Then you will be well on your way to manging your finances effectively.

Higher Purpose Accounting can help you in setting up your accounting system and managing your finances. Visit our website or book in a call for more information.

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This involves assessment and documentation of multiple processes, along with full reporting on all business operations - from the inside out.

Genuine quality control means there are no nasty surprises when the external auditor comes to call.

In an ideal world, every NDIS provider would use a failsafe system of internal audits to mitigate persistent risks in an increasingly complex industry. But the world of NDIS compliance is not ideal, and can be relied upon to change constantly.

Here are five ways internal audits can streamline organisational processes and empower NDIS service providers.

1. Go digital

Many providers in the disability arena are wary of doing away with paper-based audits.

Yet this stops them achieving optimal performance. After all, paper gets lost - thrown away or stored in the wrong filing cabinet. Store your data in the cloud and it provides you with a virtual office that is scalable and secure.

Manual, paper-based audits also tend to get done erratically, if at all – either forgotten or pushed back to another date. Time-poor staff spend valuable hours transposing data manually to collate results. It’s a laborious process.

Cloud-based audits allow employers to more effectively track, measure and assess performance.

2. Simplify risk assessment

The NDIS Quality and Safeguards Commission lays down strict guidelines concerning risk management in NDIS organisations.

Disability service providers now face a dizzying array of statutory reporting obligations relating to:

• Management of incidents, complaints, information and human resources.
• Work health and safety.
• Governance issues.

Smart assessment tools allow you to simplify and streamline your entire risk assessment process - identifying, documenting, evaluating, assessing and treating key risks proactively versus reactively in your organisation.

3. Pursue continuous improvement

NDIS disability service providers are now expected to demonstrate continuous improvement in every aspect of operation.

If your own self-auditing process is ad hoc, incomplete or messy, you won’t be able to document or prove your progress in any consistent way.

Beat your own benchmarks by using a digital internal auditing system which supports a Continuous Improvement plan.

4. Turn up the transparency

Disability service providers are in constant communication with clients, employees, contractors, auditors and the NDIS Commission – or they should be.

NDIS Practice Standards are cracking down on poor reporting practices, along with failure to document, communicate and act on a range of incidents and complaints.

A fit-for-purpose system with audit scheduling and tracking capability could effectively support one or many auditors in your organisation.

5. Provide the evidence

Disability service providers can no longer survive with sloppy work practices and gaps in documentation.

The Commission requires them to collect evidence, share results, show improvement and demonstrate compliance to external auditors – in a systematic way.

An evidence-based audit system ensures you can record critical data, rate performance, measure and review progress.

Blog provided by Centro Assist 12.2020

If you would like some assistance, get in touch. Click here!

To know more about what Higher Purpose Accounting Advisory can do for you, Click Here!

The post 5 Ways Internal Audits Empower Disability Service Providers appeared first on Higher Purpose Accounting.

Provide your feedback in this survey and be part of the movement in helping business thrive in the NDIS.

The survey will take about 4 minutes of your time to complete depending on your responses. Your time to complete this is greatly appreciated with a chance to receive a $100 gift card.

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