2013-05-09 Nonprofit Financial 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 funders and managers, managing multiple locations, and generating critical government financial reports. Sucessful 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 right accounting system in place.​

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2013-05-09 Nonprofit Financial Management & Accounting Systems

  1. 1. Thrive. Grow. Achieve.NonProfit FinancialManagement & AccountingSystems SeminarSeth Zarny – PartnerBuu-Linh Tran – Senior ManagerTroy Minor – Senior ConsultantJeremy Taro – Business DevelopmentDate: May 9, 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 GRANTREPORTS/ DONOR REPORTS TRACKING GRANT DOLLARS - MAINTAINING LARGECHART OF ACCOUNTS AVOID OVER SPENDING GRANTS – TRACKING NON FINANCIAL INFORMATION &MANAGING GRANT INFORMATIONPage 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 DOCUMENTATIONPage 4
  5. 5. CHALLENGES WITH FEDERALREPORTING & COMPLIANCE IDENTIFY TOOLS TO ASSIST WITH FEDERALREPORTING• 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, etcPage 5
  6. 6. TRACKING NON-FINANCIAL DATA INTACCT PROJECT ACCOUNTING/ USER DEFINEDFIELDS MICROSOFT DYNAMICS GP GRANTSMANAGEMENT/EXTENDER MICROSOFT DYNAMICS SL – PROJECT/GRANTS –ALLOCATIONS, MODIFIER SHAREPOINT FINANCIAL SYSTEM(S) CUSTOM APPLICATION/ DATABASE MS EXCEL / WORDPage 6
  7. 7. TRACKING FINANCIAL DATA INTACCT• Dimensions• Project Accounting Modules DYNAMICS GP• Chart of account (COA) – Track grant activities throughsegment 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/ActualPage 7
  8. 8. SOLUTION – TRACK FINANCIAL DATAIN MS DYNAMICS GP, SL, & INTACCTFeatures Chart ofAccountAnalyticalAccountingSL/Olympic Intacct1.Track grant transactions X X X X2. Track grant budgets forfiscal and grant periodX X X X3. Prevent or provide warningwhen expenditure exceedgrant revenueX X (SL)4. Track employee timeagainst grantX X (Only w/ Project)5. Track employee expenseagainst grant (web-basedapplication)X X (only w/ Project)6. Bill against the grant X X X X (only w/ Project)7. Management Reporter(FRx)/ Financial Reports byProjectX X X8. Smartlist X X X9. SSRS/ Custom report X X X X10. Cost Allocations Moderate Moderate Extensive ModeratePage 8
  9. 9. PROS AND CONSSolutions Pros ConsChart ofAccountEasy to maintain (Accounting deptcontrol 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 (grantyr vs. fiscal yr)Maintain old accounts foreverData entryUnable to handle complex grantrequirement (time entry, complexallocation, etc.)AnalyticalAccountingShorten COAPrevent charging expenditure in excessof revenueWork with MR/ existing report writerMaintain sub-ledger / resourceSeparate screen for data entryRequire reconciliationAdditional trainingAdditional configuration/setupOlympicProjectAccounting/Dynamics SLShorten COATrack employee time and expenseagainst grantAllows for sophisticated allocationAllows for sophisticated billingSophisticated Costing – Direct/IndirectRatesMaintain sub-ledger / resourceSeparate screen for data entryAdditional trainingAdditional configuration/setupHas separate reporting functionIntacctProjectAccountingShorten COATrack employee time and expenseagainst grantMaintain sub-ledger / resourceRequire reconciliationAdditional trainingAdditional configuration/setupPage 9
  10. 10. FIELD OFFICE ACCOUNTINGSUGGESTIONSChallenges SuggestionsPeople 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 MCFinancial Report Report in local currencies (MR, SSRS)Easy access to reportsDocumentation GP & SL – Leverages document management system integrationIntacct - Document imaging is part of core productPage 10
  11. 11. FEDERAL REPORTING REQUIREMENTS LEVERAGE MANAGEMENT REPORTER (MR) OR SQLREPORTING SERVICES (SSRS) FORM 990 SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS(SEFA) FASB 117Page 11
  12. 12. FORM 990Page 12
  13. 13. Page 13FORM 990 – MANAGEMENT REPORTER
  14. 14. SEFAPage 14
  15. 15. Page 15SEFA – MANAGEMENT REPORTER
  16. 16. FASB 117Page 16
  17. 17. NONPROFITS USING INTACCTPage 17
  18. 18. NONPROFITS USING MICROSOFTDYNAMICS GP & SLPage 18
  19. 19. GRANTS MANAGEMENTDEMO INTACCT• Dimension• Project MICROSOFT DYNAMICS GP• Grants Management• Analytical Accounting• OlympicPage 19
  20. 20. Q & APage 20
  21. 21. Page 21THANK YOU!Seth ZarnyDirect: 301-279-6500E-mail: szarny@raffa.comBuu-Linh TranDirect: 301-279-6511E-mail: btran@raffa.comTroy MinorDirect: 301-279-6507E-mail: tminor@raffa.comJeremy TaroDirect: 301-279-6504E-mail: jtaro@raffa.com

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