Non-profit organizations face ever-increasing pressure to deliver superior results under constrained budgets. Managing fund accounting, grants, procurements, and reporting across multiple funding sources can be challenging. Tangicloud’s Fundamentals powered by Microsoft Dynamics 365 Business Central provides the tools your non-profit organization needs to ensure it can be as current, transparent, and efficient as any non-profit over the world.
What is Fund Accounting?
Fund accounting is an accounting method used by non-profits, governments, and government agencies to track accountability rather than profitability. It’s a non-profit essential but can be confusing for many people, particularly those with limited financing or accounting backgrounds. In a fund accounting approach, all income is dedicated to a particular purpose, and each purpose determines the specific types of funds.
Small non-profits frequently have only one fund. Others with endowments and donor-restricted funds often have several funds or more. Typical types of funds include unrestricted, fixed-asset, restricted, board-designated, and endowment funds. Any non-profit large enough to use the accrual method of accounting is considered a candidate to practice fund accounting.
If your non-profit organization is still juggling spreadsheets, it’s likely letting funds slip through the cracks due to a dated manual process vulnerable to human error. Fortunately, there’s a better way.
A Modern Take on Accounting for Non Profits
Advanced technologies are helping organizations achieve their goals faster through automation, streamlined processes, and deeper data insights. These innovative solutions are particularly helpful in the non-profit sector, where accurate reporting, grant management, and fund accounting are crucial to ongoing success.
Fundamentals for Dynamics 365 Business Central was designed to meet a non-profit’s specific fund accounting needs. Built on the world-class platform Microsoft Dynamics 365 Business Central, the groundbreaking system is the only true fund accounting solution in the Microsoft cloud, providing unparalleled accessibility and security.
True Fund Accounting On The Cloud
For organizations that need an accounting software solution that allows them to operate by fund, track grants and projects, and report back to contributors, Fundamentals is a terrific option. Along with fund accounting and grant tracking, it meets the unique needs of non-profits with various functional requirements, including:
- Project management
- Advanced allocations
- Electronic approvals
- Bank management
- General ledger
- EFT and MICR payments
- Workflow with approvals
- Accounts payable
- Fixed assets
- Revenue recognition
- Multi-currency
- Inventory
- Budget planning and control
- Purchase orders
- Accounts receivable
- Security by fund, program, location, or department
Fundamentals also helps your non-profit deliver reports that matter most to contributors. Out-of-the-box reports include statements of activities, functional expenses, and financial position. Additional features include:
- Auto-generated column layouts for periods, dimensions, and funds
- Budget vs. actual by dimension
- Enhanced trial balance reports with the ability to show by fund
- Hyperlinks to drill down to general ledger entries
- The naming of sheets in Excel workbooks
- Page by fund or dimension
- Publish to Team Users
- Row, page, and column filters
- Style Sheets for adding formatting and color
Is Fundamentals Right For Your Non-Profit?
Non-profits have more than a bottom line to watch out for—they have missions to fulfill. Easy-to-use, Fundamentals is a powerful software solution that can help your organization stretch its resources to meet its and its contributors’ needs, even when your budget is tight. 360 Visibility’s implementation consultants have the industry and technological experience and skills to produce high-quality ERP software every non-profit can benefit from.
Who better to help you implement Fundamentals than a Microsoft Partner that specializes in Dynamics 365 Business Central? 360 Visibility is a full-service technology provider serving non-profit organizations throughout the U.S. and Canada. We work closely with you during every step of the Fundamentals implementation process, from initial requirements analysis and software selection through post-implementation follow-up and support. Let us help you determine if Fundamentals powered by Dynamics 365 Business Central is a good fit for you.
360 Visibility
