Financial Planning
Financial fitness and health come through effective planning both in the short term and in the long term
“If you fail to plan, you are planning to fail” Benjamin Franklin
Planning and budgeting
Facilitating the development of long-term strategies for both the programmes and finances of the organisation. Preparing and presenting activity based budgets. Costing of projects and programmes.
Funding proposals
Assisting with the presentation of a clear programme logic in funding proposals together with the relevant financial and organisational information.
Cash flow forecasting
Developing and implementing cash flow management tools to maximise cash inflows, monitor balances and manage outflows.
Financial decision making
Scenario planning, financial modelling and business planning, advice and development.
Financial sustainability
Advising organisations on the building and investing of reserves for future growth and protection against financial instability. This advice includes:
- Ways to build reserves
- Prudent use of reserves
- Allocation of costs to projects and programmes
- Policies for reserves
Financial Monitoring & Planning
If your organisation does not have the resources to employ a financial manager, we offer ongoing financial management support relating to the effective planning, reporting and monitoring of financial and other resources.
Ziyo consultants have specialist NPO experience and are able to advise and support organisations, and their funders, in the following areas:
Annual financial statements (AFS)
Assisting with preparation for the organisation’s annual audit and/or compiling the AFS. Once drafted, we can review the AFS to ensure that they present a clear picture of the organisation’s financial health and fitness. We can also present the AFS to the governing body, annual general meeting and funders.
We can act as accounting officers for voluntary associations registered as NPOs with DSD.
Financial reports
Designing systems and charts of accounts that provide accurate and complete financial recording in a format that enables clear comparison against budgets for effective monitoring as well as reporting to all relevant stakeholders.
Designing and analysing useful and accurate reports that include all the financial information necessary for sound decision making.
Governance and controls
Helping governing body members to understand their financial responsibilities, monitor and manage risks, report to stakeholders and implement best practice in effective governance.
Financial Systems & Controls
Without effective systems and controls, your organisation could be losing significant resources.
Ziyo is able to assist with the design and documentation of financial systems and controls that take account of the seven key principles for good internal control. (See also Reviews and Interventions).
Bookkeeping & Payroll
Outsourced or in-house bookkeeping using leading accounting applications, spreadsheets and experienced bookkeepers.
Payroll administration can be complex and is frequently changing as new legislation is introduced and SARS strengthens compliance. Ziyo’s payroll administration results in accurate payroll reports, payslips, EMP201s, EMP501s and IRP5s based on the current tax legislation.
Ziyo can also register an organisation with DOEL and COID, and submit annual returns to COID.
Outsourced bookkeeping
Our standard bookkeeping service includes:
- Accurate and comprehensive monthly/quarterly bookkeeping
- Financial reports prepared for management in the desired format each month/quarter
- Regular feedback on areas for improvement (covering systems, controls and paperwork)
- Funder report preparation where required
- Submission of VAT returns by e-filing where required
- Audit preparation and drafting of annual financial statements
All our bookkeeping work is quality checked by an experienced accountant to ensure accuracy and the identification of areas of concern.
We work with Xero or Sage Business Cloud Accounting based on an organisation’s needs.
Other financial recordkeeping services
- Capturing backlogs (prior financial years or periods)
- Stop-gap relief (filling in while someone is sick or on maternity leave)
- One-on-one training in the use of Sage Business Cloud Accounting or Xero at the organisation’s premises
- Design and set up of a relevant chart of accounts
- Registration for VAT and the calculation of pre-registration input tax claims
Our payroll services include:
- Set up of the organisation on Pastel Partner Payroll Professional
- Processing of the monthly payroll based on current tax legislation
- Addition of new employees and removal of terminated employees
- Advice on tax treatment of medical aid, pension fund and retirement annuity contributions
- Preparation of monthly payroll reports for management and for accounting purposes
- Preparation of payslips for employees
- Preparation of annual IRP5’s and related reconciliations
- Submission of monthly EMP201 returns and the bi-annual EMP501 returns on e-filing
- Advice on salary structuring
- Submission of monthly UIF declarations
- If required, annual COIDA submission.
Reviews & Interventions
Ziyo can address the concerns that funders, governing bodies and/or staff members have about the effectiveness of the organisation’s financial management and compliance with regular, periodic or once-off reviews.
Reviews
Assessments of accounting records, systems, financial reports, funding proposals and organisational structures – either for the non profit itself or on behalf of funders. Organisations also benefit from the regular independent checking or internal auditing services that Ziyo provides.
Assurance reviews
- Internal auditing: We can investigate accounting records and systems and conduct regular independent checks or internal audits.
- Monthly/quarterly review: We offer regular checking of financial information that provides management with assurance that the reports are accurate and complete and that systems and controls are being followed correctly.
Interventions
We prefer to work with non profits to stop a crisis ever occuring but, if the worst happens, we will be there to help. We can assist with:
- Error correction
- Fixing incomplete records or systems breakdowns
Training & Mentoring
The Ziyo team is passionate about training and capacity building. We offer customised training for one person or many, focusing on financial management and related governance.
Ziyo runs open workshops on some of these similar topics for non profits each year.
We can also mentor finance staff.
Examples of Workshops Offered
- Basic Financial Recordkeeping & Systems
- Introduction to NPO Financial Management
- Preparing Successful Funding Proposals – the Financial Aspects
- Financial Planning – Basic & Advanced
- Understanding Annual Financial Statements & Financial Reports
- Financial Sustainability (and the Tax Implications)
- Budgeting & Costing
- Good Financial Governance – Financial Oversight and the Responsibility of NPO Boards
- Effective Financial Monitoring
- VAT & NPOs
- Risk Management
- Financial Risk Scenarios
- NPOs and Employees
- Understanding Tax for NPOs/Tax Myths for NPOs
- Section 18A Benefits & Obligations
Financial Staff Screening & Assessment
Ziyo can help to identify finance staffing needs and prepare job descriptions with key performance indicators. We can also assist in the recruitment of finance staff through:
- Development of advertisements
- Short listing of candidates
- Interviewing and testing candidates
Tax opinions, advice & compliance
Advice and opinions on tax benefits and compliance for non profits, including how to structure a social enterprise.
We help public benefit organisations to submit Income Tax Act compliant income tax returns.
Services to Funders
Funders increasingly require assurance that the work they support is effective and sustainable. This requires a great deal of expertise and knowledge and many funders have found Ziyo’s support invaluable as we can:
- Assess the financial management capacity and health of current and prospective partner organisations.
- Provide capacity building and training to the staff of funding organisations with regard to budgets, financial statements and other financial reports.
- Carry out independent monitoring and review on a once-off or ongoing basis
- Support partner organisations to improve governance and reporting through mentoring and training.
- Provide tools for the effective financial monitoring of organisations.
- Review the annual financial statements and/or other financial reports of current and prospective partner organisations.
