<img src="https://certify.alexametrics.com/atrk.gif?account=YiINr1zDGU20kU" style="display:none" height="1" width="1" alt="">

AcctTwo Blog

Is Your Nonprofit Accounting Chart of Accounts Helping You Meet Your Mission?

On the surface, setting up your nonprofit accounting chart of accounts would seem to be a fairly straightforward process, but in fact, there is a lot of strategy that goes into it — or that should go into it — to save you a lot of work and headaches down the road.

The Chart organizes one of your most valuable assets: your operational and financial data. When set up correctly, your chart will enable you to see trends, issues, and opportunities within your day-to-day operational and financial data. Because of this, a well-organized Chart will make it easier for you to make better, faster and more informed decisions to move your organization forward. So, the time you spend evaluating your Chart will typically be among the most worthwhile time you’ll spend on your organization. Really!

Topics: accounting software chart of accounts Not-for-Profit and Faith-Based

How to Know It’s Time to Switch to Cloud Based Accounting Software

It’s likely that when your company was started or founded that your executive team went with the easiest, quickest, and most cost-friendly accounting software to handle its accounting needs just to get things started. But the truth is that start-ups outgrow the tools that launched the company. Not only can your old system be outdated, but ability to handle higher volumes of work might even be inhibiting your ability to grow.

Topics: accounting software ERP cloud accounting Accounting Finance Automation Sage Intacct ERP Cloud General

Why Everyone is Updating Their ERP Software Right Now

New research shows the accounting software market will grow to $11.8 billion by 2026, up from just $5.7 billion in 2017. The expansion is impressive but not really surprising considering that most companies are going through a digital transformation right now. But what gets lost in that explanation is that new ERP software is about more than just a tech upgrade.

Topics: accounting software ERP Accounting Digital Transformation General

Sage Intacct Cloud Accounting Software Action UI Changes May 15, 2020

Action is a powerful user interface built to save you time because it models the way you work. It utilizes new innovations to facilitate high productivity across your organization. On May 15, 2020, Sage Intacct will officially switch to the new Action UI by default. This means that the option to switch back to the previous UI will be disabled for most Sage Intacct cloud accounting users.

Topics: accounting software cloud accounting Accounting Sage Intacct

Sage Intacct Provides Transparency to Marinus

Like so many companies, Marinus chose to use QuickBooks at the outset. But as Marinus expanded operations, it found that QuickBooks did not meet its needs for internal controls, management reporting, and external reporting:

  • Journal entries could easily be overridden
  • The chart of account structure required for tracking expenses by department and project was cumbersome
  • The financial reporting and budgeting capabilities were very limited and led to time-consuming, manual manipulation outside the application

Marinus needed an accounting solution that would tackle these concerns and also provide controlled access to real-time information to internal and external stakeholders alike.

Topics: accounting software ERP Accounting Sage Intacct Digital Transformation IP Leap the Pond Customers

Continuity Breaks Free From Excel with Sage Intacct

Continuity’s rapid growth put pressure on the finance organization to keep up. Like so many companies, Continuity originally chose to use QuickBooks and was forced to rely on spreadsheets to maintain complicated revenue recognition schedules for multi-entity arrangements and to deliver management and investors typical SaaS metrics like CMRR, CAC, and churn.

When Alan Hurwitz joined Continuity, he recognized the importance of putting in place the accounting infrastructure to support the company’s growth and at the same time offer a compelling value proposition (i.e. measurable ROI.) His auditing firm, Fiondella, Milone & LaSaracina, recommended that he talk to Leap the Pond. After Alan reviewed all his options, he decided that AcctTwo and Sage Intacct was the best fit – from both a functionality and cost standpoint.

Topics: accounting software ERP Accounting Sage Intacct Digital Transformation Leap the Pond Customers

How SaaS CFOs Leverage Finance Automation

Bowery Capital’s annual Finance and Ops Summit draws hundreds of finance leaders from fast-growth SaaS companies, many of which are seeking to upgrade their financial foundation to deliver a higher level of reporting and forecasting.

Several CFOs from great growth companies that have relied on Sage Intacct cloud financials shared their experiences about how they transitioned from QuickBooks to streamline their financial operations and address key decisions around forecasting, SaaS metrics, subscription billing, and revenue recognition. 

Topics: accounting software ERP Accounting Finance Automation Sage Intacct RPA Digital Transformation ERP Cloud Customers

5 Trends in Fund Accounting for 2018

We've read and written quite a bit about how quickly accounting regulations, processes, and technology are changing in the private sector, but many of those trends also apply to nonprofits and government entities whose accounting revolves around funds. Fund accounting is different from for-profit or commercial accounting. It encompasses most aspects of commercial accounting but goes beyond those requirements in both form and function. Learn about five important trends we see in the world of fund accounting:

Topics: accounting software Fund Accounting Not-for-Profit and Faith-Based

Church Accounting Software Buyer Trends for 2018

There are two developments transforming the way that churches operate. First, churches are increasingly relying on technology to manage large congregations, different initiatives and departments, and ever-expanding footprints. Second, they are increasingly obligated to practice accounting with the sophistication and transparency that people expect from major companies and large nonprofits.

Topics: accounting software church accounting Not-for-Profit and Faith-Based

Sage Accounting Software Expert Advice for ERP Implementation Success

Most Sage accounting software and other ERP experts agree that the implementation is what ultimately determines the success or failure when upgrading to a modern ERP solution. Your new ERP selection could be advanced in every way, but if your implementation is slow, expensive, or difficult, then the ROI will always fall short.

The key is to stop thinking of the implementation as the first step. It's actually several steps into the process and requires a fair amount of preparation and planning in order to avoid common setbacks. If you're eager to introduce all the advantages of ERP, use these best practices to ensure a successful implementation:

Topics: accounting software ERP Implementation