pexels-photo-374016Are you finding it challenging to keep up with your nonprofit’s finances? It may be time to upgrade to software that’s been designed specifically for nonprofit use.

When it comes to choosing accountancy software, it is true that there are some similarities between the for-profit and nonprofit sectors. For example, your nonprofit might need to account for payroll, just like a for-profit business, if any of your staff members or volunteers are paid by you for their services. You might also collect fees such as equipment and storage rentals, and pay expenses related to your facilities, just as a for-profit entity would.

The Benefits of Using Software Designed for Nonprofit Use

While there are similarities, there are just enough differences that it’s difficult and very frustrating for nonprofits to try to get by using the same accounting software as their for-profit counterparts. For example, for-profit organisations typically do not engage in fundraising, and don’t seek grants from government bodies. These are activities that most nonprofits participate in, however, and all the transactions that relate to the administration of grants, program management and fund accounting must be accounted for properly. If you’re using software that’s designed to be used by a for-profit business, it can be easy to miss items and leave them unaccounted for.

When you use Admin Bandit’s software, you gain peace of mind knowing that you aren’t leaving out any transactions, as the software has been designed to work for nonprofits and help them automatically enter and record transactions and other data. Complex calculations such as determining GST and managing cost allocation are simplified, as the hard work is done for you, automatically. The software also walks you through the process of creating your budget and producing most of the reports and filings that you need to meet your fiduciary obligations and legal requirements.

Keeping Your Information Secure and Up-to-Date

In addition to making it easy to keep up with your nonprofit’s finances, Admin Bandit stores everything in the cloud. This means that your nonprofit’s financial data is more secure than it would be if it were stored locally on the hard drive of a computer in your office.

Using a cloud-based accounting software also means that you don’t have to worry about missing an important download if some of the rules and requirements change. Since the software is cloud-based, it’s updated automatically, so you can rest easy knowing that you’ve used the latest software to keep up with your accounts.

Give it a Try

One of the best aspects of Admin Bandit’s software suite is that it’s free for nonprofits to try for the first 55 days. Why not see for yourself just how fast and easy it is to get a handle on your organisation’s finances today?