Financial Management

We understand that every nonprofit is different, and every nonprofit’s challenges are unique.

Whether you’re funded by grants, contributions, fees by service, or a combination of methods, our financial management solution – The Financial Edge – can help you manage those funds and provide transparency at every level. And it’s designed to transform data into the information you need to make smart strategic decisions.

Simply put, it’s a flexible and simple-to-use system that gives you the tools you need to be efficient and accurate across every initiative and department.

The Financial Edge provides:

• Complex reporting, such as A1 10 audits and FASB 117 reports
• Payroll allocations
• Spending controls
• Fixed asset control
• Indirect cost calculations

You’ll enjoy:

• A simple, flexible solution that’s easy to learn and use
• Integration with The Raiser’s Edge
• Reduced overhead costs
• Diminished or eliminated administrative demands
• Limited use of multiple systems
• Transparency across your organization
• End-to-end grant management reporting

The Financial Edge can handle just about anything you throw at it, including:

Accountability/Stewardship - Build your stakeholders’ trust…and keep it.

• Share timely, accurate information with key stakeholders
• Ensure donated funds are accounted for and protected
• Quickly respond to your auditor’s requests for supporting detail
• Verify to donors that gifts were used as intended
• Produce easy-to-understand, presentation-quality reports and analyses

Budgeting/Planning - Stretch your resources: Do more with less.

• Can be quickly and readily adjusted to meet changing economic conditions
• Turn your budget into a planning and forecasting tool
• Take advantage of powerful budgeting, in-depth analysis, and reporting features that replace spreadsheets and cumbersome, error-prone third-party tools
• Budget as many years into the future as needed so your organization can prioritize expenditures, assess funding needs, and make comparisons across fiscal years
• Track the status of the budget in real-time, giving key stakeholders immediate and ongoing access to current budget details

Spending - Tighten the reigns by putting your spending on auto-pilot.

• Leverage the power of the Web
• Simplify purchase requests
• Easily enforce the budget
• Leverage ready-to-go reports to quickly analyze your purchases
• Approve procurement requests anytime, anywhere for maximum convenience
• Consolidate multiple small orders to realize quantity discounts

Collections - Decrease time spent collecting and increase time spent fundraising.

• Streamline nonprofit collections
• Enhance client management and service
• Produce flexible reports
• Manage billing and payment applications

• Share timely, accurate information with key stakeholders
• Ensure donated funds are accounted for and protected
• Quickly respond to your auditor’s requests for supporting detail
• Verify to donors that gifts were used as intended
• Produce easy-to-understand, presentation-quality reports and analyses

• Involves all key stakeholders in the budgeting process
• Tracks the status of the budget in real-time, giving key stakeholders immediate and ongoing access to current budget details
• Allows managers to track actual performance against the budget
• Can be quickly and readily adjusted to meet changing economic conditions

• Turn your budget into a planning and forecasting tool
• Take advantage of powerful budgeting, in-depth analysis, and reporting features that replace spreadsheets and cumbersome, error-prone third-party tools
• Budget as many years into the future as needed so your organization can prioritize expenditures, assess funding needs, and make comparisons across fiscal years
  Learn more about how The Financial Edge can help your budget become an agent for change.

Learn more about how The Financial Edge can help your budget become an agent for change.





Spending

Like any business, nonprofits have to spend money to generate revenue. But unlike many companies, nonprofits constantly struggle to justify purchases — no matter how small — and to make sure expenditures stay within very conservative budgets. And even with efforts to control costs, spending can too quickly get out of control.

Nonprofit accounting solutions can help you:

• Leverage the power of the web
  In the purchasing process, paper forms and documents lead to chaos. Software automates the requisition process by enabling multiple departments, sites, and budget managers to make purchase requests electronically, through a single, shared environment.
  
  
• Simplify purchase requests
  With electronic requisitions, you can search for products online instead of wasting time leafing through bulky catalogs.
  
  
• Easily enforce the budget
  An electronic purchasing solution can automatically enforce spending limits to reduce costs and eliminate departmental overspending.

• Move critical procurement processes online, including requisitions, purchase orders, approvals, and common product selections — to reduce errors and save time
• Consolidate multiple small orders to realize quantity discounts
• Keep close watch on budgets by determining the availability of funds using budget checking and commitment control functionality
• Leverage ready-to-go reports to quickly analyze your purchases
• Approve procurement requests anytime, anywhere for maximum convenience

• Streamline nonprofit collections
  Today’s nonprofit-specific technology solutions allow organizations to bill multiple parties for services rendered to a single client and keep track of these key payment relationships. By eliminating double entry and automating repetitive tasks, nonprofit accounting solutions free up time that can be better spent improving relationships with customers and reducing the collections cycle.
  
  
• Enhance client management and service
  Having a single accounts receivable system gives nonprofit managers continually-updated, real-time information about a client’s balance and payment status.
  
  
• Produce flexible reports
  With a flexible system in place, organizations can get on-demand trend and transaction reports, providing instant access to the type of information nonprofit managers need to make mission-critical decisions.
  
  
• Manage billing and payment application
  A nonprofit’s accounts receivable system should have billing and payment functionality in four key areas: the option to pay by cash, check, credit card, money orders, CODs, and bank drafts; the ability to automatically apply payments and credits to a specific charge, multiple invoices, or based on past or current charges; the ability to handle client deposits and prepayments while applying to future invoices; distribution of invoices proportionately across individual clients and their third-party funding source.