Your vocation as a director of a nonprofit probably didn’t spring from a love of financial accounting. More likely, you saw a need to help the needy or educate or preserve the environment or provide services to the aging.
But you very quickly learned that reporting was critical to the organization and that a wide variety of reporting was necessary to satisfy donors, board members, funders, the government, supporters and the community your serve.
Not surprisingly, many nonprofits executives have mixed emotions along the lines of “the good news is that we received additional funding; the bad news is we have additional reporting requirements to go along with that funding.”
Spreadsheets help up to a point. But with each new fund and the reporting requirements that come with those fund, creating and maintaining spreadsheets can become cumbersome and time-consuming. And, they present multiple opportunities for error. For example, a simple error in a formula can lead to ongoing errors with each entry.
We’ve helped many nonprofits beat the reporting blues with Adagio. We can help set up the reporting for each of your funds to ensure compliance with the requirements of the fund award. We can also help you set up your financial statement so that it is more of an automated process – ensuring accuracy and saving time so that you and your staff can focus on the work that needs to be done for your constituents.
Let us help you beat the nonprofit reporting blues so that you can focus on fulfilling your mission.
Here are some of the top reasons Adagio is ideally suited to not for profits:
- With Adagio Ledger’s award-winning Financial Reporter, the financial officer can produce exactly the reports needed, easily and effectively. In addition, Adagio GridView can put a read-only reporting tool on any desk where someone needs access to accounting data in real time. Alternatively, smaller organizations can look to Adagio FX, which gives password-controlled, read-only access. You create the template for management, and they can get their reports at any time, without bothering the accounting department.
- Modules like Receivables, BankRec and Purchase Orders offer the tools the financial officer needs to run a tight ship financially, because running a Not for Profit organization is always a balancing act.
- The move to Adagio is a smooth and easy transition that won’t cost your organization an arm and a leg. The software itself is reasonably priced, and Adagio is not resource-intensive; as long as you have business class hardware acquired within the last three years, you can run Adagio. Most existing databases can be easily converted to Adagio.