Remove Chart Remove Document Remove Fund Remove Organization
article thumbnail

How Nonprofits Can Avoid Buyer’s Remorse for Fund Accounting Software

sgEngage

So, when your organization is considering the purchase of new accounting-related software technology, it is crucial to carry out a thorough review of your requirements before you sign that agreement. One important goal of your steering committee is to document your organization’s requirement list for technology solutions.

Fund 92
article thumbnail

5 Tips for Community Health Centers to Transition to New Fund Accounting Software

sgEngage

The right fund accounting software can save you time and streamline your processes. Here are five tips to help your community health center’s fund accounting implementation smooth and seamless. In a small, grant-funded organization, you might not have these skills and that’s ok!

Fund 99
professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

5 Ways Fund Accounting Simplifies Financial Reporting for Community Health Centers

sgEngage

With multiple points of accountability and dynamic funding sources, accounting professionals in community health centers face complex challenges. And with that form of funding comes significant compliance requirements. With fund accounting software, you get an extra level of control over grant expense tracking and reporting.

Fund 86
article thumbnail

Don’t Jeopardize Your Nonprofit Compliance with a Commercial Accounting System?

sgEngage

Grant-funded nonprofits know compliance isn’t a nice-to-have. If all your Ts aren’t crossed and your Is aren’t dotted on your grant reporting, your chances of repeat funding from that entity are low. When your accounting system is not built to handle restricted funding , each report can feel like a fire drill. It’s a must-have.

System 79
article thumbnail

7 Ways Your Nonprofit Can Build a Strong Financial Foundation in 2024

sgEngage

Create an Operating Reserve Fund (or Review Your Policy) An operating reserve is a crucial part of creating a strong financial foundation for your organization. Like an emergency fund for your organization, an operating reserve allows you time to make data-driven decisions instead of having to react immediately.

article thumbnail

10 Considerations for Creating a Budgeting Process

sgEngage

But as your organization grows and changes, you also need to update your financial direction. In addition to reviewing and updating your nonprofit operating budget each year, your financial team should also regularly evaluate your process for creating that document. Update your documentation each time you review your budgeting process.

Process 96
article thumbnail

9 Best Practices for Strong Nonprofit Financial Management

sgEngage

You’ve got to use funds wisely, aligning with your mission and honoring donor intentions. They help your organization measure impact, follow regulations, and show donors you’re on top of the needs of your community. Here are 9 best practices to help your organization develop strong nonprofit financial management.