The Benefits of the Right Accounting Software Product for Your Non-Profit Organization

nonprofit accounting requirementsThe Problem

Ostensibly, it seems that non-profits should not really be concerned with the “bottom line.” Unfortunately, it is a fact of life that these organizations must be concerned with the “numbers” or they will simply fail to be successful. In particular, non-profits must handle the same details as for-profits such check writing, payroll and budgeting. In addition, they must accurately track their funding sources whether from private donors, government agencies or institutional grants. In short, it can be a seriously daunting task especially if the organization reaches even a moderate size.

The Solution

In terms of money management, the real goal of a non-profit organization is to build its endowment, its sources of revenue, and to maintain a proper financial stewardship over those monies. Non-profit accounting software can help with these processes and many more. Here are just a few of the benefits of an integrated accounting software package:

  • Easy to use – quite important when many untrained volunteers may need to access the information
  • Helps predict cash flow
  • Facilitates complicated staffing issues where docents must be overseen by paid staff
  • Oversees the status of ongoing projects, the number of clients served, and the success of the campaign
  • Innate flexibility that can cater to the whims of financial decision makers who often rotate through the highest positions in the organization
  • Provides accurate and timely financial reports that meet government requirements
  • Usually provides the lowest cost of ownership

The Next Step

In short, if your non-profit organization is starting to feel the heat in regards to generating numbers for donors, the board of directors, and governmental agencies, it may be time to take a look at some of the software specifically designed to ease these demands in the non-profit world. You and your team will save time, effort and, most importantly, money, as well as keep your volunteers, donors and board of directors a lot happier.

Our free Accounting Software Matching Tool can help you and your organization identify your financial reporting needs and narrow down your search for the right financial product.

Image source - August 2014-Pomerini-Tanzania-Africa-African children suffering from AIDS followed by the non-profit organization Smile to Africa and the non-profit organization Mawaki in the Franciscan Mission