Why Sage Intacct Works for Multi-Entity Businesses
For organizations managing multiple subsidiaries, locations or entities, handling financial operations across units can become increasingly complex. Sage Intacct offers …
Learn More
INSIGHT
December 10, 2024
Services: Sage Intacct Industries: Nonprofit
Nonprofit organizations have unique financial management needs, from tracking donations and grants to helping ensure compliance with complex regulations. Sage Intacct, an AICPA-preferred software, offers specialized solutions that meet these requirements, making it an ideal choice for nonprofits. With tools for fund accounting, real-time reporting and compliance management, Sage Intacct empowers nonprofits to focus on their mission while maintaining financial transparency and accountability.
This article explores why Sage Intacct is the top choice for nonprofit accounting and how its features support organizations in fulfilling their mission effectively.
The American Institute of Certified Public Accountants (AICPA) sets standards for excellence in accounting practices. That’s why its endorsement of Sage Intacct as preferred software carries significant weight. This endorsement is granted to solutions that meet rigorous criteria for accuracy, reliability and compliance; it highlights Sage Intacct’s suitability for managing complex financial needs. For nonprofits, AICPA-preferred software provides confidence that their accounting system meets high standards and supports best practices in financial management.
Sage Intacct provides a range of tools specifically designed to address the financial needs of nonprofits, allowing them to maintain accurate records, manage funds effectively and meet reporting requirements. Here are some of the standout features that make Sage Intacct a trusted choice for nonprofit organizations:
Fund accounting is essential for nonprofits that need to track multiple sources of funding, such as donations, grants and endowments. Sage Intacct’s fund accounting tools enable organizations to manage and report on these funds separately, helping ensure compliance with donor restrictions and grant requirements. Key benefits of Sage Intacct’s fund accounting include:
These capabilities make Sage Intacct ideal for nonprofits that must maintain detailed, transparent financial records for each funding source.
Grant and donor management are critical components of nonprofit financial management. Sage Intacct’s tools make it easy to track these revenue sources. Sage Intacct’s grant management features enable organizations to track the lifecycle of each grant, from application to reporting, helping ensure compliance with funding requirements.
With these grant and donor management tools, Sage Intacct helps nonprofits build strong relationships with funders and streamline the reporting process.
Nonprofits often need to report on their finances to multiple stakeholders, including boards, donors and regulatory bodies. Sage Intacct’s real-time reporting capabilities allow organizations to create accurate, up-to-date financial statements and dashboards that reflect their current financial health.
With real-time access to financial data, nonprofits can respond quickly to challenges and demonstrate fiscal responsibility to their stakeholders.
Nonprofits face unique regulatory requirements and are often subject to audits by donors and government agencies. Sage Intacct helps simplify compliance and audit preparation with features that support transparency and data integrity.
These features not only ease the burden of compliance but also help build trust with funders. This demonstrates a commitment to transparency and responsible financial management.
Sage Intacct’s nonprofit-specific features make it an ideal choice for organizations seeking reliable, efficient and compliant financial management software. Here are some additional benefits of using Sage Intacct for nonprofit accounting:
With these capabilities, Sage Intacct enables nonprofits to streamline their operations, maintain financial integrity and focus on achieving their mission.
Implementing an accounting system for a nonprofit requires specialized skills and knowledge to help ensure compliance, efficiency and ease of use. BPM’s team of Sage Intacct specialists understands the unique challenges of nonprofit financial management and provides end-to-end implementation support. From configuration to training, BPM helps ensure that nonprofits get the most out of Sage Intacct’s capabilities.
To learn how Sage Intacct can support your nonprofit’s financial management needs, contact BPM today.
Looking for a team who understands where you’re headed and how to help you get there? Whether you’re building something new, managing growth or preserving success, let’s talk.