QuickBooks is an amazing tool for managing businesses and even nonprofits in the early stages of their organizational development. It’s well known. It’s easy. And it works.
But when your church or nonprofit begins to grow and take on more and more complexity in reporting requirements, fund accounting, and integrations with other systems, it’s time to bid a fond farewell to this workhorse of a tool and graduate to something with the sophistication you need to successfully support your mission.
With churches, the main limitation of QuickBooks very often lies with the tool’s reporting capabilities. Churches often have multiple ministries and providing tailored reporting for each ministry leader and for the executive pastor and board members becomes a nightmare in Excel for the finance team to build and maintain. With the current trend of churches expanding to multiple campuses, managing locations is also a challenge with an entry-level product like QuickBooks. Additionally, churches often run for-profit enterprises like cafés and bookstores, that might be run as separate entities for tax purposes. With QuickBooks, consolidating everything and closing the books can become very time-consuming each month.
Take a look at how one church solved these problems with QuickBooks by graduating to Intacct’s more robust accounting platform.
How business systems communicate and integrate with one another is not just the concern of for-profit enterprises. Nonprofits have multiple systems that support their organizations, from accounting to HR to membership and donor management. QuickBooks doesn’t have the integration capabilities necessary to streamline processes, avoid double and triple entry, ensure accuracy, and provide the system of record that the accounting system should really be.
Take a look at how an educational nonprofit moved from QuickBooks to Intacct to take advantage of better systems integration options.
Let’s face it: technology is changing at a very rapid pace, making solutions available that were once reserved for only the largest for-profit companies. Sophisticated accounting and ERP platforms like Intacct are available via the cloud to anyone with a web browser and an internet connection, and at a price point that would have been unimaginable 5-10 years ago. These solutions can have a tremendous impact on the success of you mission, and it’s worth investigating what you’re losing in time, accuracy, and visibility by sticking with a solution that’s really designed for small businesses, and not complex nonprofits and churches.
For an assessment of your current finance and accounting function and an examination of whether a system like Intacct would provide your nonprofit with the appropriate Return-on-Mission (ROM), please contact us. We’re here to help.
The post Why Should Nonprofits Consider Graduating from QuickBooks in 2016? appeared first on NFP Tech Blog.