Nonprofits face a formidable challenge, being held accountable for both their actions and their finances in ways for-profit companies are not. Add in multiple locations, branches, and divisions—especially when crossing state lines or country borders. The complexity can quickly escalate into a resource-consuming matter of financial logistics.
In addition, decentralized payments, inter-entity transactions and different currencies to contend with. Financial managers at multi-entity nonprofits need a single, financial management system that can help them close their books more efficiently while remaining compliant. They also need an affordable system that provides easy accessibility and real-time visibility.
Intacct cloud accounting software provides simplified data entry with improved visibility. By shifting to a cloud-based system like Intacct, anyone, anywhere in an organization can input and access data in a timely manner. Even volunteers can be given a login to enter their time and expense information.
Similarly, billing and collections can be accelerated whether that revenue comes from sales, events or dues thanks to the solution’s automated revenue management and recognition capabilities.
Because Intacct offers a multidimensional, multi-ledger system, data can be entered and reviewed so that it is aligned with how the organization is managed—by project, team, location, or employee using real-time performance analysis. The Intacct dashboard not only reduces reviews to a minimal number of clicks, it also allows for the customization of reports to the sophistication needs of whomever needs to see them, from board members to donors. The result is improved visibility into the true cost of each action the organization takes at an individual level and as an entity.
Intacct is designed to provide seamless integration with more than 30 commonly used systems from Salesforce and Avectra to systems like Fellowship Technologies. With open Web Services, however, it's also easy to connect to any other cloud-based applications a nonprofit may use or eventually want to add.
To find out how to redirect your organization's resources toward serving its core mission, rather than merely accounting for it, contact us.