Trying to survive in a complex environment is hard without the right cloud accounting software

Not-for-profit finance teams operate in a more challenging environment than ever before. Climbing up the mountain carefully plays a critical role in maintaining funding relationships and attracting new donors. Finance teams face pressure to provide full transparency for compliance and better visibility into both financial metrics and outcome metrics for the board, executives, donors, and government funders.

At the same time, the complexity around not-for-profit accounting, multiple funding streams, and compliance is increasing, with a need for even small not-for-profits to be able to account for funds, grants, projects, programs, and more. In today’s dynamic environment, many not-for-profits are partnering, collaborating, or even merging with other not-for-profits or working with other affiliates.

“There’s a level of complexity here that is equivalent to what a major for profit organisation deals with.”

Nikki Jones, Controller, Healthcare Businesswomen’s Association

Key challenges for not-for-profit finance teams

• Complexity of accounting and funding streams
• Reporting and visibility
• Managing funds and grants including acquittal reporting
• Cost allocations
• Internal controls and compliance to changing accounting standards such as IFRIS 15
• Cash management

Contact our team at Akuna for Sage Intacct cloud accounting software pricing and plans for your business.