NDIS or the National Disability Insurance Scheme is very beneficial for individuals living with a disability. There are many complexities in this scheme to navigate and choosing the right accountant for this will help ensure compliance.

You need to first check whether the firm specialises in NDIS plan management and accounting. There are financial regulations and reporting requirements that are specific to NDIS, therefore it is important to work with an accountant that has a specialisation. This ensures that they are up to date with any changes and that they can provide accurate financial advice to you. You can also check whether they are experienced in providing accounting services to both NDIS participants and providers. There are unique financial needs for participants and there are certain challenges they face when they are living with a disability. The accounting professionals should be familiar with these so that they are able to provide advice for diverse financial scenarios that can occur within the framework ofNDIS. You can ask how long they have been working within this specialisation. There are also many funding models of NDIS and the accounting firm should have a good understanding of these models and how to navigate them.

When you are working with an accounting firm

That has a comprehensive understanding of the operation of NDIS, there is some peace of mind that they are able to optimise financial arrangements so that you can be sure that everything is done according to the regulations. There are also certain reporting standards the accounting firm should adhere to so they can be compliant with the NDIS regulations. There are specific categories for expenses and they should also understand how to prepare financial statements that align with the reporting standards of the scheme. You can ask about some of the services they provide with regard to this. Make sure to check other potential accounting firms that are operating within the same specialisation so that you can get an idea of the variety of services provided. You can then decide which services are best recommended for your situation. There will be unique financial needs and goals for the NDIS participant and this requires tailored financial planning.

Support coordination

Is an important aspects of the NDIS and participants will generally have a support coordinator to manage funds. The support coordination process should be very clear to the NDIS specialist accountant. They should have a good idea of financial planning, budgeting and reporting that is included in this process. This will ensure that there is good collaboration with the support coordinators and the accounting firm so that the use of NDIS funds for the participant can be optimised. There should also be effective communication between all parties. The NDIS specialist accountant should be able to answer any concerns you have and be able to explain the process of NDIS funding and other matters in a clear way. You can go for an initial consultation with them to get an idea of how they communicate and assess their responsiveness.