Client Area

Developing East Arnhem Ltd

To reduce the pressure on their small team, DEAL engaged Carbon for their payroll management and financial obligations

About Developing East Arnhem Ltd. (DEAL)

Developing East Arnhem Ltd. (DEAL) is a not-profit development body established in November 2014 to act as the front door to the East Arnhem Land region for industry and business. They facilitate connections between private enterprise, industry, community and government agencies to support economic diversification and growth in the region for the benefit of the regional population.

DEAL support business in the region in numerous ways including but not limited to:
  • Their economic development fund supports business organisations that are looking to deliver sustainable economic development initiatives that will drive business and jobs growth in the East Arnhem Region. The fund is an exciting element in the program of economic development support being delivered by Developing East Arnhem Limited, and a great opportunity to support ideas that can really help East Arnhem to grow. Up to $1,000,000 is available through the fund in the 2018-2019 financial year.
  • Developing East Arnhem Limited holds up to 250 rental properties, originally owned by Rio Tinto Alcan, which are available at rates competitive against other regional centres. These properties are available to assist businesses and service providers to move into East Arnhem or grow existing operations in the region. 
  • DEAL has entered into several project facilitation agreements to financially support larger projects within the region. This ranges from supporting the Arnhem Space Centre Project to financially supporting Fishing The Wild to deliver a six-part documentary series presenting the tourism potential of East Arnhem to the world.
  • Supporting the delivery of reports and plans required for economic development in the region.
  • DEAL also supports microenterprise development in the East Arnhem region through its partnership with Many Rivers. The East Arnhem field officer for Many Rivers also works from DEAL’s Nhulunbuy office.


Scenario

The processing of DEAL's invoices, grant and financial record management and reconciliation of their bank accounts was previously jointly managed by the executive assistant and the CEO; a lot of additional and unnecessary pressure on a small team. Carbon were initially engaged as DEAL’s payroll specialists. DEAL also engaged Carbon Accounting for the preparation of fringe benefits tax return. In February 2018, DEAL upgraded their package to also include the diamond bookkeeping package to improve the management of their invoice processing and recording.

DEAL is a small organisation with only three staff members. Being a not-for-profit, their financial requirements are complex and managing those themselves was diverting resources from their core business. 

Solution

  • DEAL's invoice processing time and accuracy has greatly improved – estimate 70% improvement
  • DEAL's record keeping accuracy has greatly improved – estimate 50% improvement
  • The admin time spent on processing invoices has greatly reduced
  • DEAL's financial management reports are always produced accurately and provided on time

Carbon services:


 
"Our financial management reports are always produced accurately and provided on time. Thanks Carbon!"
 
"The previous system we were utilising detracted from our core business, taking a long time to process each week. There was also a greater margin for errors to occur."
 
Making the decision to engage Carbon as our payroll managers/specialists and then upgrade to the diamond bookkeeping package has significantly increased DEAL’s capacity to focus on our core business. Aimie and Bridie always go above and beyond to assist our organisation and with their expertise, we are confident that we are accurately meeting our financial obligations.

 
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