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AcctTwo Blog

Elevate Your Mission with Automated Church Metrics

It can be hard to imagine that cloud-based ERP can help you accomplish your Mission. Time and time again, we’ve seen churches and other nonprofit organizations strengthen stewardship and demonstrate their outcomes with church metrics. Find out how the visibility, flexibility, efficiency, automation, and integration you need to succeed is a reality with AcctTwo and cloud church accounting.

Topics: Not-for-Profit and Faith-Based

4 Nonprofit Management Challenges Solved for Charities & Foundations

Wealthy donors who fund most philanthropic foundations have high expectations around financial accountability, transparency, and efficiency. Cloud accounting software for nonprofit management enables grantmaking foundations and philanthropic charities to focus their time and energy on their mission. Nearly 76 billion dollars were given by charitable foundations in 2019. Seventeen percent of those charitable dollars are given to nonprofit organizations from foundations, and mostly through grantmaking, which is a lot to try to manage manually.

Topics: financial management software Not-for-Profit and Faith-Based

Allocations Fall 2021 Release Update

We are proud to announce AcctTwo's Period-End Allocations Fall Release 2021. In this release we're adding new features that allow for more allocation pool and basis options as well as settings for how and if the allocation will process. We have added the ability to allocate to and from budgets as well as weighted average calculations. We also have added the ability to restrict or allow allocations to be run numerous times for the same period. Additionally, we added a start and end date for a given allocation to allow you set an allocation up ahead of time and not worry about it being run for a period you do not want. The end date will allow you to stop an allocation from running in a future period when it is no longer valid. Finally, we added the ability to pick and choose which dimension the values will keep from the pool versus take from the basis.

Topics: General Not-for-Profit and Faith-Based Allocations Release Update

Sage Intacct 2021 Release 3: What’s New?

This quarter, we welcomed our third release of Sage Intacct 2021! This release provides deeper support for our verticals and reduces manual processes with automation. Here are some major highlights:

Topics: Intacct Releases General Not-for-Profit and Faith-Based

Increase Transparency for Donors with 12 Financial KPIs for Nonprofits

Donors demand full transparency and accountability before committing funds to a cause. Nonprofit finance leaders are responsible for ensuring good stewardship of donor dollars to make the biggest impact possible. Leaders need to make sure the greatest percentage of resources goes towards the mission and not operational expenses. To help you get started, here are some sample financial KPIs for nonprofits that donors want to see.

Topics: Not-for-Profit and Faith-Based

Baker Tilly Acquires AcctTwo, the Leading Sage Intacct Partner

Acquisition of Houston-based technology and services company creates a trifecta of best-in-class technology, implementation and outsourcing.

HOUSTON (Sept. 1, 2021) – Baker Tilly US, LLP (Baker Tilly) announces the acquisition of AcctTwo Shared Services, LLC (AcctTwo). The move amplifies Baker Tilly’s robust product development capabilities and extensive digital practice. The acquisition will be effective Oct. 1, 2021.

Topics: AcctTwo News General Not-for-Profit and Faith-Based

Digital Transformation Examples: How CFOs Can Improve Performance

It’s been estimated that 75 percent of small and medium business (SMB) decision-makers understand that using digital technology effectively is key to business success, especially in today’s digital era. Finding the right solutions can help a company overcome new challenges, course correct, and better prepare for unexpected changes in business and market conditions. Here are some digital transformation examples to help you see how to empower your people and prepare for the future.

Topics: Digital Transformation General strategic CFO Not-for-Profit and Faith-Based

Telltale Signs Your Organization Has Outgrown QuickBooks for Nonprofits

More than 80 percent of small businesses and nonprofits start out using Intuit® QuickBooks® to manage their accounting. It is affordable, well known, and easy to use for entry-level accounting functionality. But as an organization grows, they face significant challenges and hidden costs as they hit the limits of the functionality of QuickBooks.

Growing organizations have complex demands like automating core processes, supporting distributed work teams, consolidating multiple entities, enforcing internal controls, or delivering insight with faster report times, which QuickBooks for Nonprofits was not designed for.   

Topics: QuickBooks alternative Not-for-Profit and Faith-Based

Cloud Accounting Solutions as a Service Deliver Cost Savings

This is a continuation of our last blog discussing the benefits of cloud accounting solutions as a service. In part one, we shared that all software as a service (SaaS) is delivered via the could, but not all cloud is SaaS. While there are numerous benefits of accessing software via the cloud, licensing your software as a service has more potential for savings. 

Topics: General strategic CFO Not-for-Profit and Faith-Based

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