Arxis Technology

Arxis Technology

5 Pillars of Nonprofit Accounting Software

Published: 7/5/2017 9:00:00 AM

keywords: non profit accounting

Accountability. Transparency. Efficiency. These values apply to all businesses, but especially to nonprofit accounting software and organizations with a mission to fulfill and stakeholders to satisfy. When undertaking a project, it’s critical that you use know where every dollar goes—and how to make those dollars count. The right project accounting software, such as cloud-based Intacct Projects, lets you track and see all your financial data in one place, helping you be more efficient and maintain confidence of your stewardship among donors, board members, and the community.

Intro to Intacct Cloud ERP Accounting SoftwareIntacct Projects provides project-centric ERP capabilities for costing, billing, time and expense capture, and project and resource management. It’s all the project accounting functionality you need to finish projects on time, better manage projects costs and revenue, and stay productive:

  1. Greater insight on a per-project basis. With Intacct Cloud Financial Software, you can define valid projects with name, description, manager, location, and other elements, so that you can track expenses and revenue by project and get insight into where you’re profitable and where you’re not. Bills, purchase orders, invoices, and journal entries can all be tagged to a project and stored right in the general ledger, giving you greater power to filter financial reports by projects. This is especially helpful for nonprofits that need to track expenses and funding by grants.
  2. Real-time capture of employee time and expense. Employees can enter draft documents and edit them as they work, posting them when the report is complete. Your organization is able to stay on top of the time being directed toward your projects, as well as expenses being incurred as part of those projects.
  3. Better tracking of project costs. Whether you’re fundraising or undertaking a charitable project, Intacct lets you keep on top of project-related costs. Integrated GL posting in real time gives you up-to- the-minute visibility into whether a project is staying in budget and greater control over the financial success of a project.
  4. Automated, controlled billing. With Intacct, you can capture time, purchases, and employee expenses and automatically generate an invoice against a grant. This helps improve your cash flow and minimize revenue leakage. And when Intacct Revenue Management is added to Intacct Projects, you can automate revenue recognition independent of billing. Billing can be used to create another level of oversight as you review and modify potential invoices in real time or save you time and help you get paid sooner by producing invoices in bulk with a variety of selection filters.
  5. Better visibility into use of project resources. Get user-defined, real-time updates on your project’s operational and financial status. Drill-down capabilities give you even greater visibility into the resource planning and progress of your projects. You gain the ability to more quickly identify and assign the right resources to a project.

Get user-defined, real-time updates on your project’s operational and financial status

Arxis and Intacct Projects: Your building blocks for a successful nonprofit
Intacct Projects takes the hassle out of project management, so you can better focus on your mission. And as your trusted business partner, Arxis is committed to adding value to your organization, helping you better serve those in need.