There are several reasons nonprofit organizations often start out using QuickBooks. The popular accounting tool is simple to use, affordable, and good enough to manage basic finances. It’s a powerful startup tool.
There are also several reasons why nonprofits outgrow QuickBooks and implement advanced accounting solutions like Sage Intacct, the best-in-class cloud-based platform. Let’s look at a few of those reasons for transitioning away from QuickBooks, so you can determine if it’s the right choice for your growing nonprofit.
Is managing accounts taking too long?
Advanced accounting solutions like Sage Intacct can synchronize seamlessly with third-party software solutions for payroll, expenses, inventory management, and more. By integrating with Bill.com, for example, you can reduce manual entry errors, reconcile accounts faster, and automate to eliminate tedious tasks like checking for duplicate invoices.
Does your board have the visibility they need?
For growing nonprofits to make timely decisions, the board and other executives need integrated reports that are insightful and easy to understand. Sage Intacct provides customizable reports, dashboards, and visualizations in real time, so you can plan for fundraising, staffing, and more based on the latest information.
Is closing a headache?
As your organization grows, your monthly, quarterly, and especially year-end closes can become complicated, labor-intensive efforts. Financial management solutions like Sage Intacct provide a central repository for all accounting information and automate the consolidations that accountants dread doing.
With automated consolidations, updated numbers are available all the time. There’s no need to wait for the close—accountants, executives, and other users across departments have access to updated numbers whenever they need them. In that sense, the close becomes a mere formality, the official end to a process that’s continually underway.
Do you have a lot of users?
QuickBooks limits the number of users, which is fine for small organizations. But if your nonprofit is growing, you might appreciate the fact that Sage Intacct has no limit on users.
Do you need other advanced features?
Sage Intacct offers numerous other advanced features that you won’t find on QuickBooks. For example, you can easily customize templates, create role-based access and reports, and customize accounts receivable and payment terms. You can also issue permissions to control who accesses different reports and drill down into data found on customizable dashboards.
Get the help you need
Insero & Co. is a public accounting firm with decades of experience working with businesses and nonprofits of all sizes. We can help you evaluate all the different accounting and financial management platforms available to choose the one that meets your needs today and as your organization grows.