2013-07-23 Grants Management & Accounting Systems

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Raffa understands the challenges that Nonprofits, NGO's, and Associations face when it comes to providing grant tracking to funder and managers, managing multiple remote offices, and generating critical government financial reports. Successful management of a Nonprofit organization requires providing high-quality service, but at the same time, careful administration of expenses and improving processes are ongoing requirements. Spend more time securing grants and performing effective financial management with the appropriate accounting system in place.

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2013-07-23 Grants Management & Accounting Systems

  1. 1. Thrive. Grow. Achieve. NonProfit Financial Management & Accounting Systems Seminar Seth Zarny – Partner Buu-Linh Tran – Senior Manager Jeremy Taro – Business Development Date: July 23, 2013
  2. 2. WHAT’S ON TAP  INTRODUCTION & AGENDA  CHALLENGES (GRANTS MANAGEMENT)  GRANTS MANAGEMENT SOLUTIONS • Non-Financial Information • Financial Information  FIELD OFFICE ACCOUNTING  FEDERAL REPORTING  DEMO (INTACCT & MICROSOFT DYNAMICS) Page 2
  3. 3. CHALLENGES - GRANTS  FINANCIAL REPORTING – MAINTAINING GRANT REPORTS/ DONOR REPORTS  TRACKING GRANT DOLLARS - MAINTAINING LARGE CHART OF ACCOUNTS  AVOID OVER SPENDING  GRANTS – TRACKING NON FINANCIAL INFORMATION & MANAGING GRANT INFORMATION Page 3
  4. 4. CHALLENGES – FIELD OFFICE  PEOPLE (PRIORITIES/CULTURE/AUTHORITIES)  TECHNICAL CHALLENGES  DIFFERENT PROCESSES  MULTICURRENCY  DIFFERENT SYSTEMS  LOCATIONS  SUPPORT/ FINANCIAL REPORTING • Reporting to necessary stakeholders (Board of directors, Donors, executives, program managers, grants managers, etc.)  NONPROFITS MUST ACCOUNT FOR: • Funds, Grants, Projects, Programs, and More  DOCUMENTATION Page 4
  5. 5. CHALLENGES WITH FEDERAL REPORTING & COMPLIANCE  IDENTIFY TOOLS TO ASSIST WITH FEDERAL REPORTING • FAS 116 - Accounting for contributions • FAS 117 - Financial statements for NonProfit Organizations • Segregation and auditing of uses and sources of funds • 501(c)(3) charitable vs. non-exempt activities • IRS Forms 990, etc Page 5
  6. 6. TRACKING NON-FINANCIAL DATA  INTACCT PROJECT ACCOUNTING/ USER DEFINED FIELDS  MICROSOFT DYNAMICS GP GRANTS MANAGEMENT/EXTENDER  MICROSOFT DYNAMICS SL – PROJECT/GRANTS – ALLOCATIONS, MODIFIER  SHAREPOINT  FINANCIAL SYSTEM(S)  CUSTOM APPLICATION/ DATABASE  MS EXCEL / WORD Page 6
  7. 7. TRACKING FINANCIAL DATA  INTACCT • Dimensions • Project Accounting Modules  DYNAMICS GP • Chart of account (COA) – Track grant activities through segment of COA • Analytical Accounting (AA) – Dimensions • Olympic – Use project to track grant transactions  DYNAMICS SL • Project Accounting Series • Cost Allocations • Project, Tasks, Account Category • Indirect & Direct Rates, Provisional/Actual Page 7
  8. 8. SOLUTION – TRACK FINANCIAL DATA IN MS DYNAMICS GP, SL, & INTACCT Features Chart of Account Analytical Accounting SL/Olympic Intacct 1.Track grant transactions X X X X 2. Track grant budgets for fiscal and grant period X X X X 3. Prevent or provide warning when expenditure exceed grant revenue X X (SL) 4. Track employee time against grant X X (Only w/ Project) 5. Track employee expense against grant (web-based application) X X (only w/ Project) 6. Bill against the grant X X X X (only w/ Project) 7. Management Reporter (FRx)/ Financial Reports by Project X X X 8. Smartlist X X X 9. SSRS/ Custom report X X X X 10. Cost Allocations Moderate Moderate Extensive Moderate Page 8
  9. 9. PROS AND CONS Solutions Pros Cons Chart of Account Easy to maintain (Accounting dept control over COA) No sub-ledger to manage Easy to create report using MR Can slice and dice segment for reporting Work with MR/ existing report writer Long COA Not accommodate multiple year (grant yr vs. fiscal yr) Maintain old accounts forever Data entry Unable to handle complex grant requirement (time entry, complex allocation, etc.) Analytical Accounting Shorten COA Prevent charging expenditure in excess of revenue Work with MR/ existing report writer Maintain sub-ledger / resource Separate screen for data entry Require reconciliation Additional training Additional configuration/setup Olympic Project Accounting/ Dynamics SL Shorten COA Track employee time and expense against grant Allows for sophisticated allocation Allows for sophisticated billing Sophisticated Costing – Direct/Indirect Rates Maintain sub-ledger / resource Separate screen for data entry Additional training Additional configuration/setup Has separate reporting function Intacct Project Accounting Shorten COA Track employee time and expense against grant Maintain sub-ledger / resource Require reconciliation Additional training Additional configuration/setup Page 9
  10. 10. FIELD OFFICE ACCOUNTING SUGGESTIONS Challenges Suggestions People Establish and document field office accounting processes Provide onsite training (processes/ system) Provide training @ home office (annually) Keep it simple (process/ accounting/ technology) Technology Excel Remote access to GP & SL Other system (QB) Maintenance factor/ Lag time User’s background Leverage on GP & SL MC Financial Report Report in local currencies (MR, SSRS) Easy access to reports Documentation GP & SL – Leverages document management system integration Intacct - Document imaging is part of core product Page 10
  11. 11. FEDERAL REPORTING REQUIREMENTS  LEVERAGE MANAGEMENT REPORTER (MR) OR SQL REPORTING SERVICES (SSRS)  FORM 990  SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS (SEFA)  FASB 117 Page 11
  12. 12. FORM 990 Page 12
  13. 13. Page 13 FORM 990 – MANAGEMENT REPORTER
  14. 14. SEFA Page 14
  15. 15. Page 15 SEFA – MANAGEMENT REPORTER
  16. 16. FASB 117 Page 16
  17. 17. NONPROFITS USING INTACCT Page 17
  18. 18. NONPROFITS USING MICROSOFT DYNAMICS GP & SL Page 18
  19. 19. GRANTS MANAGEMENT DEMO  INTACCT • Dimension • Project  MICROSOFT DYNAMICS GP • Grants Management • Analytical Accounting Page 19
  20. 20. QUESTIONS Page 20
  21. 21. Page 21 THANK YOU! Seth Zarny Direct: 301-279-6500 E-mail: szarny@raffa.com Buu-Linh Tran Direct: 301-279-6511 E-mail: btran@raffa.com Jeremy Taro Direct: 301-279-6504 E-mail: jtaro@raffa.com

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