Is your nonprofit trying to do more with less? Is every month-end, quarter-end, and year-end the source of stress for your finance team as you try to handle your reporting and still keep up with your other responsibilities? Do you struggle to produce the right reports for the right users? You’re not alone.
If your reporting is dependent on extracting the relevant information from the accounting system, manual data entry and manipulation, and cumbersome spreadsheets, it might be time to move to a cloud-based nonprofit financial management solution. Here are three reasons why.
- Simplify your chart of accounts.
Many traditional accounting solutions use a linear chart of accounts that can be complicated, inflexible, and unsuited to your complex needs.
A flexible, logic-based chart of accounts is a better solution for nonprofits. A cloud-based solution like Sage Intacct allows you to set up primary account codes and then gives you the ability to categorize transactions by multiple dimensional attributes such as fund, grant, program, or location. The result is a streamlined chart of accounts that saves your finance team valuable time and effort.
Sage Intacct’s dimensional chart of accounts also makes it easy to customize your reporting so that you see the information that’s most important to you in the format that’s easiest to use.
- Bid farewell to spreadsheets.
If you’re using a traditional accounting system, you probably have to export data from the system to a spreadsheet to generate your reports. This means time spent on manual data entry, reconciling numbers, and manipulating information to get it in the format you need. All of this takes time away from other critical tasks.
Sage Intacct gives you real-time data and flexible reports that you can customize to meet the specific requirements of your organization. You can filter and organize data the way you want and build reports in the format that makes the most sense for the audience.
Sage Intacct also allows you to integrate information from other systems, so you can combine the power of financial metrics with operational data and KPIs to get the full picture of your organization’s performance.
- Look forward instead of backwards.
To make the strategic decisions that drive your success, you need real-time data, in a format that allows you to quickly see critical trends and important metrics. Unfortunately, most traditional accounting systems give you a “rear-view” look at your financials. Sage Intacct gives you actionable information that allows you to shift your focus to looking ahead and making the strategic decisions that are important for your success.
With a cloud-based nonprofit financial solution like Sage Intacct, you can leverage the power of cloud technology to eliminate reporting stress. Want to know more? Call MicroAccounting today at 855.876.3773.