Even Not-For-Profits Need Solid Financial Management

From a Financial Mess to a Successful Not-For-Profit Enterprise

The implications of 2nd rate accounting practises on businesses and non-profits can have severe downstream effects. For Basic Needs Australia, there were cash flow and debtor payment issues.

After Karuna was appointed, she had a close look at the internal processes and accounting systems.

Soon enough she uncovered many problems, one of which was funding. When government overseers do their inspections to ascertain whether to provide more funding, they can deny the request if the financial records are not in tip-top shape.

Within a couple of months, Karuna overhauled its accounting system and transferred all the data to cloud-based software. The result of these changes was a robust system with information that was transparent and accessible.

Now they had all the information at their fingertips, including payments to related parties, amount of government grants, subsidies received, and so on.

The effect of these changes was apparent: it became easier and faster to request and receive more government funding.

Here is Karuna describing the situation…..

More Than An Accountant…..

So, there you have it. From a broken-down accounting mess to a state-of-the-art cloud-based accounting and financial management system.

To say that Fowzia Issa was impressed would be an understatement. She was delighted with the support:

“Karuna eliminated all the manual work we were doing. She is technically very strong, and her service is exceptional. I always get to her every time I need her help.”

Karuna also worked diligently with all stakeholders of the association and kept them up to date about the changes and why they were necessary.  This is an important point.  Change causes disruption and unless those affected are informed about the changes and why they are necessary, stakeholder blowback may cause problems.

Fortunately, Karuna is not only a great accountant, she is also a very good communicator and happy to take time to educate, inform and illuminate all parties about the positive benefits from the proposed changes.

Finally, a parting comment from Fowzia Issa:

“If you are looking for an accountant who can give exceptional service, Forward Accounting is the way to go. I highly recommend Karuna Malik and her team.”

Need someone to sort out your accounting mess? Give us a call on 0406 496 488.


New Business Off to a Flying Start and Then Covid Hit

Entrepreneur Weathers the Storm
Thanks to Smart Marketing and Karuna

Another Hero to the Rescue - Karuna Malik

Even though the Picket Fence cafe was Fidel’s first venture, he knew it was vital to surround himself with a good support team. Top of the list was to hire a great accountant. Luckily, his finance broker introduced Fidel to his wife, Karuna Malik. Fidel was instantly impressed and decided to appoint her as his accountant.

Since then, he hasn’t looked back. Karuna was there for him from the beginning, and when COVID hit, Karuna helped him reorganise his finances, so he was better able to weather the storm.

As Fidel says,

‘Karuna freed me to do the things I do well (running the business and taking care of customers). I didn’t have to worry about the finances because Karuna was there for me.  She is an angel.’

"Karuna and the Team is Amazing"

As you can see from the above video Fidel is effusive about Karuna and her team:

“She and her team take care of everything from bookkeeping to BAS statements. They will make everything very easy to understand whether it’s your first time running a business to experienced operators.”

If you would like to talk to Karuna and see how she can help your business, give her a call on 0406 496 488.

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