"We ensure Business Continuity even in disruptive times of COVID - 19 with our team continuously working remotely for our clients' success.
NetSuite Expert is focused, strongly encouraged to continue with home office."

Automating Non-Profit Organization’s Financial Processes with NetSuite

Automating Non-Profit Organization’s Financial Processes with NetSuite

shashi 123 Views

With NetSuite for Nonprofit, you can gain efficiencies with a powerful nonprofit fiscal management system built to meet the unique needs of your nonprofit. By leveraging the elemental capabilities of Oracle NetSuite For Nonprofit Organizations, you can drive effective financial management and manage all its aspects without much hassle. 

Real-Time Financial Management for Nonprofits

Core Accounting

  • Oversee money and bookkeeping with extensive highlights, including GL, AR, AP, cash the executives, measurable bookkeeping, distribution timetables, and ongoing monetary revealing. Merge all cycles inside one framework.
  • Mechanize monetary cycles and further develop efficiency with endorsement steering work processes for Journal Entry, Buy Requests and Seller Bills.
  • Underlying period close agenda to smooth out period end shutting processes and to help various Net Resource accounts.
  • Close with certainty with computerization for cost amortizations; and dynamic designations for immediate and circuitous expenses.
  • Guarantee appropriate security, support consistence, and review trail perceivability.
  • Utilize only one framework to follow receivables and income exchanges, making Accounts Receivable maturing, monetary announcing, measurements, and compromise basic and exact. 
  • Use over 250 FASB Compliant Standard and customized reports and role-base dashboards and KPIS, designed specifically for nonprofit staff and leadership.

Fund Accounting

You can explore NetSuite’s innovative and GAAP-compliant fund accounting framework. With this capability offered by Accounting Software For Non Profit Organization, nonprofits can manage diverse revenue streams, correlate revenue sources to expense transactions, and accurately manage fund restrictions and grant requirements.

Innovate Stewardship of Funds

NetSuite Software For Non Profit Organization delivers an auditable and comprehensive fund accounting. NetSuite’s out-of-the-box solution automates FASB compliance with a streamlined Chart of Accounts using predefined GL custom segments to make unmatched perceivability into income, store adjusts, confined income, useful costs, award action and execution measurements.

  • Track and manage diverse funds by relevant and associated segments.
  • With a Non Profit Organization Management solution by NetSuite, you can manage resourcing by restriction, and report expenses against programs or grants to transparently show where funds are spent in real-time, at any time.
  • It allows you to create FASB reports—Statement of Functional Expenses, Statement of Activity, Cash Flow, Statement of Functional Expenses—on the fly.
  • You can tag and report by Revenue Type, Subtype, Restriction with or without GL impact on the line level. 
  • Track a network of connections between various income sources and different section aspects and geographic districts.
  • Make limitless GL portion code mixes for exact and simple information section.

Grant Accounting

With this Software For Nonprofits, you can elevate efficiency and visibility into the grant lifecycle. It enables you to track terms and conditions, automate time and expense tracking, track many projects to many grant,s and manage expenses across multiple years with the least hassle.

Automated Grant Life Cycle

NetSuite’s grant accounting elevates productivity and perceivability into the award lifecycle with the capacity to follow agreements, track many ventures to many awards, robotize time and cost administration for billable and nonbillable exchanges, and oversee costs across numerous years. Grants in NetSuite keep up with all important achievements so crucial data is in a solitary brought together framework.

  • Dashboards provide drill-down reporting into all grant-related transactions, including journal entries, vendor bills and expense reports.
  • With CRM Software For Nonprofits, you can track all expenses, vendors, subcontractors, employees associated to an event, conference, and fundraiser and build customer relationship accordingly. 
  • This gives you one, integrated system to manage donor/grantor/funder/funding source data from receivables and revenue transactions. 

NetSuite for Nonprofit eases the burden of managing multiple systems and assists in focusing on the core mission. Not only it helps strengthen Nonprofit organization’s relationships but let them deliver better programs and services.

For more details around NetSuite For Nonprofit, write to us at info@inoday.com Or Schedule A Demo

Connect with us