What opportunities are available for Nonprofits to propel their success metrics to another level?
The basic business drivers of Nonprofits do not change. They are:
- Have a strategy and vision focusing on metrics that are real, meaningful, and measurable.
- Have the resources to deliver what is promised to constituents.
- Have the monetary backbone to fuel success.
Successfully deployed Cloud Based ERP Software for Nonprofits
The Cesar Chavez Foundation (CCF) deployed Acumatica & Nonprofit+ to make a huge difference to its bottom line
The CCF has championed services to Latino Groups for many years. Before upgrading the Foundation was running financial applications including Yardi, FundWare, QuickBooks, and Excel. They manually prepared payroll for 300 employees in five states. As FundWare reached its end of life, the Foundation decided to look for new ERP. They found Acumatica, which had the ability to handle multiple entities, automate payroll, provide financial insights, was affordable for its multiple users, and more.
“I would highly recommend Acumatica to any non-profit,
especially where they have multiple departments and multiple operations.”
~Cliff Timmerman’s CFO of CCF
Benefits of Cloud Fund Accounting Software for nonprofits
Can a Nonprofit Benefit from ERP Software?
Acumatica CEO John Roskill posited the following in his blog post. “Nonprofit organizations generally have limited resources; however complexity of functional requirements is not diminished, when compared to other industries.” His advice to NPOs: Do not waste time considering less-than-capable ERP vendors. Not surprisingly he recommends looking first at Acumatica’s Non Profit Plus.
More details about Fund Accounting System (FAS)
For NPO’s, the ERP software must focus more on accountability as compared to profitability. This Fund Accounting System allows nonprofits to easily track revenues incorporating restrictions against the expenditures made for those purposes. This solution allows accounting team to bring balance to funds and maintain accounting integrity.
- Fully integrated across Acumatica ERP, the FAS leverages the strong and flexible GL/Subaccount structure.
- Once configured FAS automatically creates: Re distribution and Due to/Due from data entries while end users busy themselves completing their daily tasks.
- Reports available out of the box.
What NonProfit Accounting Modules are included with Acumatica’s Cloud Based ERP?
The Acumatica Nonprofit Accounting Suite enables your organization to demonstrate accountability and stewardship, maintain funding sources and engage leadership by analyzing your true financial picture.
- Fund Accounting > Demonstrate your accountability and stewardship
- Restricted Funds Management > Properly define funds and eliminate commingling of cash
- Grant Management > Maintain your funding sources
- Encumbrance Accounting > Analyze your true financial picture
Additional Nonprofit Management Features Include:
- Budget Verification and Validation > Protect your budget
- Board Management > Engage your leadership to raise financial awareness
- Volunteer Management > Report and track volunteer contributions to secure additional funding
- Enhanced Audit Trail > Know what is happening in your software