It is with much excitement that YBM have chosen to run a pilot program using the Carbon Accounting platform, Sumday! We recognise that we have a number of clients who want to be ahead of the pack, and we have found a solution to enable this.
Sumday provide market leading GHG accounting software, training and support, all in line with global standards. Further, a number of other accounting firms, across Australia and New Zealand, with whom we have collaborative relationships, are also onboard! We feel that this will ensure we have support and a depth of experience to draw upon as we embark on this new journey.
Why would accountants get into greenhouse gas reporting?
Some of the most important aspects of GHG accounting are accuracy and compliance with standards and regulations. Some would say this is a natural fit for your accounting team! Recognising this alignment, Sumday was actually developed by accountants for accountants.
Not surprisingly, the cloud-based system has numerous similarities to cloud accounting. It is largely built around coding transactions that arrive via bank feeds. Behind the scenes, a carbon general ledger contains data to convert a $-based transaction to a carbon emission factor associated with that activity. We can see how the numbers are calculated, and also can apply professional judgement to adjust these calculations when necessary.
Of course, working together on this is going to be essential!
Why start Carbon Accounting before you have to?
This is a really important question, particularly as reporting is yet to become mandatory. (Feel free to read our blog on when reporting rules may come into play for you). However, we see a number of advantages for those interested in acting sooner rather than later:
- Understand the emissions associated with your business now, and better evaluate how energy-related investments may reduce emissions from your business;
- Differentiating your business. This could be part of your marketing strategy in attracting new customers, or it could be an important factor in securing Grants or funding;
- Provide your carbon emissions when customers, banks, insurers or clients ask – and they will be asking, soon!
- Lastly, with Sumday, you will have the ability to pass on temporary software access to your suppliers, giving them the ability to learn, progress and provide you with more accurate data.
How to get started?
Contact us! Talk to one of our team about access to Sumday. We have a couple of blogs on our website about the ‘whys’ and ‘hows’ of carbon accounting. You can also visit the Sumday website, view their blogs and see what people have to say about our chosen solution: https://www.sumday.io/