The internal processes of nonprofit organizations (NPOs) can be just as complex – if not more so – as those of for-profit businesses. Many NPOs also have purchasing and payroll concerns in addition to other requirements influenced by their non-for-profit nature. Nonprofits must often meet additional obligations to external parties, such as donors and regulatory agencies monitoring charitable transactions. NPOs must balance these responsibilities with both their established missions and the unique realities they face as entities that cannot rely on revenue.
Leveraging scalable nonprofit accounting software that can be adapted to your particular needs would allow your nonprofit organization to address your financial and regulatory concerns. By implementing Acumatica Cloud ERP for nonprofit accounting, you can alleviate the pain points specific to this sector with out-of-the-box nonprofit reporting functionality. Nonprofit accounting software enables you to properly monitor and maintain all of your nonprofit organization’s sources of revenue and ensure compliance with nonprofit laws. Acumatica delivers the ability to ensure accurate financial reporting for nonprofit organizations that must with NPO regulations and donor funding requirements.
Nonprofit accounting functions in a different capacity than that of commercial enterprises. Instead of reflecting the profitability of the organization, accounting for NPOs must reflect their responsibility to fulfilling their mission and the directives of their donors. Acumatica nonprofit accounting software provides end-to-end financial visibility through project accounting features as well as budget management functionality that protects against overspending.
Revenue streams for nonprofit agencies can be derived from various public and/or private sources. Laws for nonprofit organizations mandate NPOs to use this money only for certain tasks and to create audit trails for these functions. Assets must be isolated according to their required usage. Acumatica Cloud ERP accounting software allows you to define your different accounts and manage restricted funds separately to prevent the mixing of diverse revenue.
Nonprofit regulations necessitate the inclusion of reporting functionality in any solution deployed in this sector. Nonprofit organizations must implement a system that allows them to deliver regular updates to their presiding stakeholders and regulatory entities. Acumatica nonprofit fundraising software fulfills this with comprehensive data delivery features that provide an extensive look into your financial and operational processes from multiple dimensions. Seamless integration between accounts allows for data from separate funds to be compiled for a more informative overview of assets. This also enables you to provide complete audit trails for all of your transactions down to the user level.
Nonprofits occupy multiple areas within the sector that face different and continuously developing circumstances. Your NPO requires a nonprofit accounting software system that can be deployed according to your specific operational model and the needs of your organization’s mission. The Acumatica nonprofit ERP software solution can be implemented according to your needs as a SaaS solution or on-premise hosting. Customize the use of your solution, including leveraging a native mobile application for remote interaction, web-based browser support or standard file format exportation for reporting, and an unlimited user model.