Registered Training Organisations

Accounting for Registered Training Organisations

Are you a training provider registered with the Australian Skills Quality Authority (ASQA) and/or the Commonwealth Register of Institutions and Courses for Overseas Students (CRICOS)?

The Registered Training Organisation (RTO) industry works in a highly regulated environment. As a registered training provider, you must have a thorough understanding of the national VET system, including training packages and the Australian Qualification Framework (AQF).

At Lotus Smart, we offer accounting for Registered Training Organisations to help RTOs stay compliant with all accounting and taxation requirements. As an experienced RTO and CRICOS accountant in Melbourne, you can rely on our experienced team to assist with everything from preparing financial statements through to completing a Financial Viability Assessment.

Important Steps for RTOs

If you’re thinking about registering an RTO with or without CRICOS, you must be prepared to:

  • Deliver training and assessment
  • Manage the recruitment, enrolment and support of students

The RTO registration process can be quite lengthy, and you may need to wait for several months before your application for initial registration is approved. When you apply to become an RTO, ASQA requires you to demonstrate financial viability by submitting the financial viability risk assessment tools. ASQA also asks for the financial viability risk assessment tool if you are applying for the addition to the scope of your registration within two years from the date of initial registration. If you need help with FVA tools in Melbourne, Lotus Smart has expertise in this area. Over the years, our experienced FVA accountants in Melbourne have helped countless RTOs to demonstrate financial viability.

How Lotus Smart Can Help

Lotus Smart has specialists who can assist with bookkeeping, taxation and business advisory services for training organisations registered with the Australian Skills Quality Authority (AAQA) and the Commonwealth Register of Institutions and Courses for Overseas Students (CRICOS). Our accountants can help you to prepare projected financial statements and complete a financial Viability Assessment in Melbourne.

Our qualified RTO accountants can also assist with preparation of Business Activity statements, financial statements and income tax returns. These must be prepared on a quarterly or  annual basis. You may also need to get your financial statements audited if you’re delivering Government funded training, which is another area where our associates can assist.

Contact Our RTO Accountants Today

When it comes to accounting for Registered Training Organisations, you can rely on Lotus Smart to provide the trusted services you need. Enquire with our Melbourne CBD team today by calling (03) 9561 9922.

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