© 2020 RSM US LLP. All rights reserved.
Sage Intacct for Nonprofits
Custom Reporting and Grant Management for Nonprofit Organizations
When it comes to accounting for nonprofit organizations, clear record keeping is key. Not only does the organization itself need to keep up with its finances, but donors and funders also want to see exactly where their money goes. Of course, nonprofits have to meet regulatory requirements, as well.
Sage Intacct, a cloud-based financial management system, is uniquely suited to meet the accounting needs of nonprofits, from charities and faith-based organizations to trade/membership associations and cultural and educational institutions. Since all data is stored in the cloud, anyone in the organization who needs to access information can see updated numbers from anywhere, in real time. Sage Intacct is designed to be scalable, so its capabilities can match an organization as it grows.
Nonprofits represent a large percentage of Sage Intacct clients, which means tailor-made updates and product development for these users. For example, Sage Intacct worked with Guidestar, the leading source of information on the nonprofit sector, to produce the Nonprofit Financial Board Book, which was released in 2018. This custom dashboard allows organizations to easily track their financial well-being and mission impact, comparing their data to key metrics recommended by Guidestar.
Among its other robust features, Sage Intacct allows nonprofits to:
- Manage grants effectively and efficiently, with access to real-time data that can be viewed by users across departments and in various locations.
- Track expenses tied to grants, locations and departments using Spend Management, which also offers a detailed look at spend history.
- Develop outcome metrics that provide a comprehensive picture of organizational performance and impact.
- Integrate external systems, such as membership management and fundraising tools.
- Provide leadership and board members with easily understandable custom reports and dashboards, enabling better, faster and more informed decision-making.