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Why Fund Accounting Software Beats Spreadsheets for Nonprofit Grant Reporting and Compliance

sgEngage

You’ve been grant shopping for some time now, but are you prepared for what’s next once you start to receive them? Many grants come with significant—and detailed—compliance requirements. If you are a grant-funded organization, it will be important to manage spending restrictions and meet reporting requirements.

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5 Questions to Ask Your Fund Accounting Vendor

sgEngage

When your nonprofit is looking to change its financial system, it would be nice to have a crystal ball. You’d see that the software tracks restricted funds the way you need it to. How does your system manage restricted funds? You have transparency that the funds were used for their intended purposes.

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Need a New Grant Management System? 5 Tips for Selecting the Best GMS for Your Foundation

sgEngage

But inertia is not an option when your grant programs outgrow your current solution, or your vendor sunsets the software you use, like Salesforce is doing with their grant management software, FoundationConnect. Make sure you have consistent communication processes for both declined funding requests as well as grantees.

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How to Minimize Risk Throughout Your Grant Cycle

sgEngage

But on occasion, a person will make a mistake or doesn’t follow the restrictions for the grant. To mitigate risk throughout your grant cycle, you need to know your grantees through relationships and documentation, support their internal controls, and set up a process for whistleblower complaints. How do you track time and effort?

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How to Streamline Your Grant Management Process with Technology

sgEngage

Receiving requests for funding can be both a crucial and frustrating part of being a grantmaking organization. To avoid overwhelming your team, standardize how you receive and process grant applications at your organization. Teams can even build statuses that are specific to grant types.

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Grants management software

Bonterra

Grants management software Unify giving and grantmaking Build strategic nonprofit partnerships that drive more social impact with less work for your teams. Build charitable partnerships for better funding outcomes Nonprofit network Discover nonprofits that align with your business objectives and build lasting partnerships.

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Nonprofit Budgeting and Forecasting Made Easy with Fund Accounting Software

sgEngage

Luckily, your fund accounting software helps you tackle all these situations. Scenarios serve as ideas or variations on a plan and align with potential situations that might happen throughout the year as well as the actual budget records you save into your fund accounting software. Are we expecting grant revenue?

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