Introduction
Nonprofits Making a Difference for Good Nonprofits are among the organizations that do so much good for society, whether through funding education, aiding healthcare, conserving the environment, and helping with social justice. However, finances for a nonprofit organization is a different beast altogether because of all the nuances in restricted funds, complicated grants, as well as the importance of maintaining your donor’s trust. And on top of these, nonprofits have to be transparent and comply with fiscal requirements, while keeping the eye on the mission.
Intersoft Systems Inc provides accounting software specifically for non profit organizations. Our software lets nonprofit organizations streamline their financial management while ensuring their compliance, transparency, and ability to report on the impact of their missions. With user-friendly capabilities, vets can focus on their core mission knowing their financials are in place. Here’s a deeper dive into how our accounting software tackles this challenge and how it can benefit your nonprofit’s operations.
Nonprofit-Specific Features
Nonprofit organizations have specialized accounting requirements that extend beyond those of regular for-profit businesses. From handling restricted gifts to managing grants, here’s how our software addresses your unique needs.
Fund Accounting
Nonprofit accountants can have a tough time managing various types of funds—but restricted and unrestricted funds are particularly challenging. Our funds feature lets organizations categorize and follow donations by purpose. This is designed to ensure that designated funds (e.g., scholarships or for a specific project) are used for the intended purpose. You are able to monitor and report on multiple types of funds, making it easy to manage different donation restrictions to have you covered.
Funds with no strings attached vs. restricted funds
Restricted Donations: Keep records of donations that are earmarked for special projects. This also applies to contributions for specific projects, programs or activities.
General Funds: These funds are utilized for day-to-day expenses and are not designated for a particular project.
Nonprofit accounting software is specifically built with those requirements in mind; Intersoft customers can effortlessly track and maintain two types of funds, guaranteeing all funds received are properly used according to the donor’s intent.
Grant Management
Grants management is the process of dealing with funding deadlines, reporting requirements, and budget restrictions. Our grant management software is designed to simply grant management to keep nonprofits up to date on numerous grants at once. No matter if you are handling one grant or more than 50, the tool enables organizations to oversee budgets, deadlines, and follow the conditions of the grant.
Grant Management Features
Budget Tracking Monitor how grant money is spent effortlessly.
Reporting- Prepare regular reports as required for funders, and stakeholders- Manage the integrity of information and have it readily available.
Deadlines: Get automatically sent reminders so you never have to forget a report due date.
This functionality enables nonprofits to effectively account for their funds, minimize administrative overhead, and verify that grant dollars are applied properly.
Donor Transparency
Donors want to feel that their money is making a difference. Our donor transparency functionalities allow for the establishment of trust through fair, simple, and detailed reporting of donation impact.
Impact Reports
Automatically produce donor-friendly summaries that focus on program impact. These reports can also be tailor made to focus on particular financial results, such as money raised, spent and result. No one likes to see their money vanish into a black hole, but make the change from an intangible to a tangible gift and donors have a pretty good shot at believing what their money is doing is valuable and worthwhile, increasing donor happiness and loyalty.
Receipt Automation
Nonprofits have to deliver donation receipts for tax reporting purposes. Our tool automatically handles this, and creates tax-compliant donation acknowledgments when donations are made. This eliminate the overhead and make sure you have all the recipes clean accurate and on time.
Compliance Made Simple
In the nonprofit world, compliance is not optional. Nonprofits must conform to an array of financial rules and regulations such as GAAP (Generally Accepted Accounting Principles) and IFRS (International Financial Reporting Standards). With Intersoft’s non-profit accounting software, you’re ready and compliant all year so audits and reviews don’t have to be a pain.
GAAP/IFRS Standards
The system complies with the GAAP/IFRS principles of financial statements including those prepared for non-profit accounting. This also helps to make you look good and credible to work with your organization.
Audit Trails
From audit trails to an outstandingly high level of transparency, our programs keep detailed track of every single financial transaction. This would facilitate companies being able to perform a self audit for compliance and generate respective documentation for external auditors or regulatory bodies. Whether you’re planning for an audit or simply an advocate of transparency our audit trail feature comes to the rescue.
Intersoft’s Nonprofit Edge
What Makes Intersoft Systems Inc Different Than Other Accounting Software Companies? Here are some unusual things that help us succeed in the non-profit sector:
Customizable Dashboards
Monitor grant usage, overhead ratios and fundraising ROI with your tailored dashboard. These dashboards give you a bird’s eye view of the financial health of your company and help you make informed decisions on the spot.
Volunteer Management
Nonprofits frequently depend on volunteers to help accomplish their mission. Volunteer Management -o- Our platform has volunteer management features built right in so you can record hours, assign work, and track engagement without leaving the service. This will help manage Who Is Who in your organization more effectively as volunteers play a critical role in your organization’s success.
Case Study: Reducing Donor Attrition
One of our clients, a nonprofit focused on literacy, was able to increase donor retention by 30 percent by leveraging our impact reports and simplified grant reporting tools. Trust: They built trust with donors by giving them concise and detailed updates on the outcomes of their work, (illustrating the value of their work and the potential impact of their support).
Conclusion
For not-for-profits, trust, transparency and good financial management are at the heart of how successful they are in their work. With the nonprofit accounting software by Intersoft Systems Inc, your organization can operate more efficiently, comply with regulations and cultivate stronger relationships with donors. Automate standard processes like receipting donations and tracking grants so you can concentrate on what’s truly important—your mission.
