Learn how to avoid common challenges caused by using small business accounting systems and how fund accounting software can help overcome them.
Nonprofits have unique and complex financial management needs, so having access to the right Fund Accounting Software is critical. Due to shortcomings of accounting systems designed for small business, Nonprofits can quickly become overwhelmed with their accounting tasks when using the wrong solution. We’ve identified the four most common challenges when nonprofits use small business accounting systems and offer suggestions on what you can do to overcome them with the help of nonprofit fund accounting software.
Understand the Benefits of Fund Accounting Software:
- Grant tracking
- Payroll management
- Pledge tracking
- Managing cash flow
- Solid audit trails
- Flexible chart of accounts
- Enhanced budgeting capabilities
Download “Making the Move from Small Business Accounting Software to a Nonprofit Fund Accounting System”
Nonprofit organizations have very specific accounting needs. Private donors and grantors place stringent requirements on nonprofit accounting and reporting. Additionally, government regulations dictate what nonprofits can and cannot do when it comes to the use of reporting and of grant funds. Nonprofits can quickly become overwhelmed with their accounting tasks especially when using small business accounting software.
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