AcctTwo Blog

In 1972, Sharon Johnson went to Haiti to direct a choir that was traveling around the country. As she looked into the faces in the crowds, she fell in love with the people of Haiti. She returned each year with her husband, Bob, and over time, they felt the need to provide the people of Haiti with help every day and not just once or twice a year. In 1983 they formed what is today Mission of Hope: Haiti (MOH).

Officially founded in 1998, MOH has since grown from a small mission located on a barren piece of land, to a fruitful organization that now houses an onsite orphanage, medical facility, school, and church. Through partnerships, MOH also serves outside of its property by helping other orphanages, churches, and schools throughout the country.

Nonprofits don't get enough credit for their savvy strategic thinking. They have to sustain themselves and secure growth just like any private enterprise. But they must do it with tighter budgets, tougher restrictions, and higher standards for transparency and accountability.

It's an impressive achievement that nonprofits are able to balance boldness with prudence so successfully. But it's also a challenge. When every dollar of every donation or grant matters, nonprofits can't afford to make bad bets or hasty decisions. Otherwise, they could put their mission, reputation, or future in jeopardy.

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:

Monty Carpenter, Director of Business Administration, and Libni Rodriguez, Director of Project Management, at Gateway Church in Dallas/Ft. Worth talk about their relationship with AcctTwo and the benefits of Sage Intacct's best-in-class accounting and ERP software for churches and faith-based organizations.

13 campuses, 25 funds, 80 departments — and lots of accounting challenges

We're always proud of the work we do and the relationships we build with each and every one of our customers, but when we get feedback years down the road and get to hear how transformative Intacct and our implementation team have been, it's very special. Seacoast Church, an AcctTwo customer in the Carolinas, recently contributed to a story in Church Executive Magazine about how the multi-site church, with 12 physical locations and an online campus, needed a powerful accounting tool that could provide consistent financial reporting across locations and ministries.

What features should nonprofits and faith-based organizations look for in a modern accounting system?

Accounting systems are not something you change or replace often. However, as your nonprofit organization grows in size or complexity, you reach a point where manual processes drain your productivity, and you struggle to analyze your growing range of financial and operating data. At this point, you need a system that leverages the latest technology advancements.

As a mission-based organization, your agenda is clear – doing good work around the world. Unfortunately, accomplishing that is more complex than ever, requiring leaders to rely on a lot more than just good intentions in order to achieve the positive outcomes they desire.

As the scope of mission-based organizations has grown, decision-making has become a high-stakes process. At the same time, donors demand a level of transparency and accountability that raises the stakes of decision-making even further.

Ok, I am not going to deny it. I am a fortunate fellow. I come to work every day knowing we are helping our clients improve their processes and reach their goals. And the best part is they make us proud. So, I’d like to recognize them.

Today I want to talk about United Way of Central Indiana, the Indianapolis local chapter of United Way Worldwide.

In case you are not familiar with them, United Way Worldwide is the leadership and support organization for a network of local United Ways in about 1,800 communities in more than 40 countries. These local United Ways are independent entities—separately incorporated non-profits with their own structure.

Intacct Dimensions - Business Metrics without Exploding Your Chart of Accounts

In today’s fast-paced business environment, senior managers require real-time metrics to measure the performance of their organizations. And, as the need for information increases, the time window to react and make informed decisions decreases.

How Is Dimensional Accounting Software a Must-Have for Churches?

I'm excited to follow up Baran Sonmez's recent blog post on Dimensions in Accounting Software with a look at how dimensionality is particularly important in the world of churches and faith-based organizations. For some background, I'm a Professional Services Manager at AcctTwo. As a tax accountant, programmer, and Intacct reporting and implementation specialist, I've spent more than 25 years in finance and technology, particularly church finance, and I've held financial analyst and finance director positions at two churches in the Dallas/Fort Worth area. I have a little experience with this!