- Posted by Liesa Malik
- On April 10, 2016
QuickBooks is often the ‘go to’ entry-level accounting solution for young startups and nonprofit organizations. It’s easy to use and affordable. However, there is a time when the simple solution can create more problems than it solves.
Entry-level solutions are only helpful for so long. As your nonprofit grows, manual processes and redundant data entry introduce the risk for data errors and delays that can lead to bigger challenges. Nonprofits can’t afford to make mistakes with grant-funding or membership relationships.
Gain greater control and visibility by deploying a stronger management solution, such as Tangicloud, a powerful solution designed specifically with nonprofits and government agencies in mind. Here are seven reasons why it may be time to replace QuickBooks with this powerful solution.
- Time-saving automation: You can streamline financial management and reporting for grant-funded or organizational programs and projects, as well as maintain separate budgets for each activity.
- Show transparency: Foundation and governmental funded projects require strict attention to detail, particularly with funding. With more transparency, you can be prepared for audits and meet funding expectations.
- Control spending: Getting closer to real-time data can make it easier for you to control spending and respond faster to changes in order to protect budgets.
- Business intelligence & robust reporting: Built-in analysis and reporting features offer access to the data you need to identify new opportunities, streamline operations, and find new ways to satisfy your membership and the community.
- Protect your data: Security features and audit tracking controls protect your data and show accountability and transparency, which aids in compliance reporting and other auditing activities.
- Centralized data: You can manage individual programs or project budgets, while also maintaining a centralized budget for your nonprofit organization. This collaborative approach can streamline financial management, keeping managers on task with workflow automation.
- Strong financial management: Funding often comes from multiple sources including grants, donors, and programs or other activities. You can integrate donor and financial management activities to get a full financial view of your organization.
QuickBooks is an adequate, entry-level accounting solution; however, growing nonprofits need so much more. Contact Tangicloud to learn how the right technology can provide the control and visibility you need to achieve your mission.