Tracking every dollar is critical when you rely on grants and donations as heavily as nonprofit organizations do. Like many businesses, nonprofit organizations must follow strict budgets. However, unlike their for-profit counterparts, they must also comply with the high standards of donation and grant stewardship. Managing qualified and non-qualified expenses can result in the renewal or even the loss of funding.
Managing one grant program can be challenging; however, managing several grant programs can become a nightmare for many nonprofit organizations. In addition to deadlines and milestones, there are often strict spending budgets that require close attention to detail. Overspending or missing deadlines can cost you a valuable funding source and tarnish your reputation with other sources. Download “7 Great Reasons that Nonprofits are Moving to the Cloud,” an infographic to learn how you can manage grants and show a commitment to grant stewardship with Intacct®, a robust financial management tool.
Intacct offers innovative budgeting tools that you can use to manage multiple funding sources and gain real-time insight throughout your financial activities. Remote access allows you and your team to enter expenses and other project details into Intacct directly from the field, a donor’s office, or when working on the road. On the spot, you can designate between grant qualified or non-qualified expenses and monitor available spending for each specific budget, as well as for your nonprofit as a whole. You can manage individual grants with greater efficiency and accuracy by simplifying the grant balancing process, as well as gain valuable insight that you can use when planning future projects. In addition, as noted in the infographic, Intacct is the only Preferred Provider of Financial Applications for AICPA business solutions. Using a solution like Intacct shows your commitment to maintaining the common principles associated with grant stewardship and the generous donations from supporters.
Grants and donations can be a critically important funding source for many nonprofit organizations. Protect your funding sources and show fiscal responsibility by deploying Intacct. Download “7 Great Reasons that Nonprofits are Moving to the Cloud,” and contact SSi Consulting for more information about using Intacct to gain greater control and insight over your financial operations.