How Sage Intacct Revolutionizes Accounting for Nonprofits

Nonprofit organizations face unique financial challenges, including tracking grants, managing donations, and maintaining regulatory compliance. They deal with these challenges while operating on limiting budgets and handling additional requirements that don’t apply to for-profit companies. This means nonprofits need accounting software that’s designed specifically for their needs.

Traditional accounting systems designed for-profit companies often fall short, meaning nonprofits that rely on these systems face additional financial management challenges. That’s where Sage Intacct comes in. It’s 100% cloud-based accounting software specifically designed to fit the needs of nonprofit organizations.

Sage Intacct’s automation, real-time reporting, and built-in compliance features allow nonprofits to spend less time on administrative tasks and more time fulfilling their mission.

7 Ways Sage Intacct Revolutionizes Accounting for Nonprofits

We’ll explore seven ways that Sage Intacct revolutionizes accounting for nonprofits.

1. Automate Fund Accounting and Provide Greater Transparency – Sage Intacct makes it easy to manage funds from multiple funding sources, including donors, grants, fundraisers, and government programs. Sage Intacct automates fund accounting, which ensures that every dollar is allocated correctly.

It tracks restricted and non-restricted funds separately and provides clear audit trails to ensure compliance. Sage Intacct also automates fund allocations and expense tracking, which improves financial management and frees up your accounting staff to spend more time on strategic initiatives.

2. Real-Time Grant and Donation Tracking – Nonprofits that rely on grants must provide reports showing how funds were spent. Creating these reports can be time-consuming and difficult, particularly for small finance teams. Sage Intacct simplifies this process with real-time grant tracking and reporting.

It assigns specific budgets to each grant and tracks expenses, ensuring that funds are used within the guidelines specified by each grant. Sage Intacct also easily generates reports for donors, board members, and grant providers, creating greater transparency. This means nonprofits can spend less time on reporting and more time securing additional funding.

3. Seamless Multi-Entity and Multi-Location Accounting – Consolidating financials can be a major challenge for nonprofits that manage multiple programs or have multiple locations. Sage Intacct’s multi-entity accounting features replace time-consuming manual consolidations with a simple, automated process.

With Sage Intacct, accounting staff can consolidate financials across multiple programs and locations within minutes. Sage Intacct also automates inter-entity transactions, eliminates duplicate data entry, and provides a real-time financial snapshot across all entities.  

4. Nonprofit-Specific Reporting & Compliance – Sage Intacct comes with built-in FASB, IRS, and GAAP-compliant reports, which improves compliance and simplifies reporting. Built-in Sage Intacct reports for nonprofits include a statement of financial position, a statement of activities, form 990 reporting for IRS compliance, and custom donor and grant reports for stakeholder transparency.

These customizable reports allow accounting and finance staff to spend more time analyzing financial health and less time on spreadsheets and manual workarounds.

5. AI-Powered Budgeting and Forecasting – Effective budgeting is critical for nonprofits. Proper planning allows them to maintain current programs, plan new ones, and expand sustainably. Sage Intacct includes powerful budgeting tools that help organizations forecast revenue, track variances, and plan strategically. It helps nonprofit leaders make better, faster decisions; ensure financial stability; and maximize their organization’s impact.

6. Cloud-Based Access for Remote Teams & Volunteers – Many nonprofits have remote teams and volunteers fundraising or working on different programs. Employees and board members may also be remote or travel regularly. This can make communication difficult and lead to mistakes or lost opportunities.

As a 100% cloud-based system, Sage Intacct provides anytime, anywhere access to critical nonprofit data. Board members, auditors, and donors will have secure, role-based access to exactly the data they need. Relying on a cloud-based system also eliminates the need for expensive IT infrastructure and software maintenance. Moving financials to the cloud provides greater flexibility and improves collaboration between different teams, departments, and volunteers.

7. Streamlined Integrations with Fundraising & CRM Tools – Nonprofits typically rely on a mix of donations, fundraising, and private and public grants for funding. They often use fundraising, donor management, and membership software to track these revenue sources and maintain important donor relationships.

While Sage Intacct is a powerful, robust nonprofit financial management tool on its own, it also integrations with other platforms like Blackbaud and Salesforce Nonprofit cloud. This ensures that all critical funding and donor management data will be stored in a single, integrated platform that serves as a single source of truth for important financial data.

Sage Intacct’s seamless integrations allow nonprofits to eliminate manual data entry, ensure that all financial data stays up-to-date and remains consistent between platforms.

Why More Nonprofits Are Switching to Sage Intacct

Growing nonprofits that rely on simple accounting solutions and manual workarounds are increasingly finding that inefficient financial management is hindering operations and reducing their impact. That’s why more and more nonprofits are switching to Sage Intacct, nonprofit accounting software that saves time, improves compliance, and provides real-tie financial visibility.

Sage Intacct helps organizations serve their mission and achieve even greater impact. Contact us today to see what Sage Intacct can do for your organization.