Compliance is built into the foundation of dedicated nonprofit accounting systems. It moves you from reacting to an audit to being audit-ready at all times.
[elementor-template id=”1526″]
Nonprofit accounting systems keep organizations compliant and audit ready with:
- Automated Net Asset Classification: The system automatically categorizes funds into two net asset classes—with donor restrictions and without donor restrictions—as required by FASB standards.
- Grant-Specific Tracking: Grant Administration tools tracks critical details like grantor contact info, indirect cost rates, and specific reporting periods, allowing you to run reports across multiple grants or specific grant dates.
- Proactive Budget Monitoring: Use “budget tolerance” alerts to notify you when spending is nearing its limit, ensuring you remain in compliance with grant terms before a violation occurs.
- Audit Trail: A complete audit trail logs any changes to your financials and presents information in an auditor friendly-fashion.
- Executive View Licenses: Grant read-only access to your auditor to make sharing financials a breeze.
- Ironclad Internal Controls: Segment who can access what information in your financials by role, and limit any one person from having full access to your information.
[elementor-template id=”1458″]