The Nonprofit Finance Team Survival Guide

The Nonprofit Finance Team Survival Guide

A field guide for navigating the complexity and demands of nonprofit financial management

Surviving in a Complex and Stressful Environment

Nonprofit finance teams operate in a more challenging environment than ever before.

Good financial stewardship plays a critical role in maintaining funding relationships and attracting new donors. Finance teams face pressure to provide full transparency for compliance and better visibility into both financial metrics and outcome metrics for the board, executives, donors, and government funders.

At the same time, the complexity of accounting and funding streams is increasing, with a need for even small nonprofits to be able to account for funds, grants, projects, programs, and more. In today’s dynamic environment, many organizations are partnering, collaborating, or even merging with other nonprofits or working with other affiliates.
Key Challenges for Nonprofit Finance Teams
  • Complexity of accounting and funding streams 
  • Reporting and visibility 
  • Managing funds and grants 
  • Cost allocations 
  • Internal controls and compliance 
  • Cash management

Surviving with Limited Resources

Water Bottle

In addition to growing complexity, most nonprofits operate a lean finance team with limited staff and resources.

It is the perfect recipe for stress and strain. Fortunately, finance teams that take advantage of cloud-based technology can configure their financial system with point-and-click functionality and achieve greater visibility with real-time data across multiple entities and locations, and dispersed teams.

In this eBook, we will examine what it takes for nonprofit finance teams to not only survive but thrive. We will also look at how the Sage Intacct accounting and financial management solution helps nonprofits leverage the power of cloud technology to ensure mission success.

Getting Beyond Survival, So Your Nonprofit Can Thrive

Nonprofit organizations place high demands on their finance professionals.

Sometimes, it feels like a hamster wheel—you run as hard and as fast as you can, but never get in front of the constant stream of reporting requests and compliance requirements.

As your organization grows in size and mission, you will need flexible technology solutions to manage complex funding streams and organizational structures. Multi-entity accounting with visibility into the location, organization, and fund/grant/program transactions is critical, as is the ability to understand the bigger picture at the consolidated level.
Sage Intacct Multi Ledger

The Basecamp of Nonprofit Accounting:The Chart of Accounts

camp sunset

The foundation for your organization’s accounting system is the chart of accounts.

Call it your basecamp for the trek to better financial management. Your chart of accounts forms the framework for storing all your financial information and transactions, with an impact on everything from data entry to financial reporting.

When you have an easy-to-understand and efficient chart of accounts structure, the information that flows from it will be more useful.
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