Two Great Financial Accounting Software Solutions for Not-For-Profits

If you are a non-profit and you are in the market for a new financial accounting software solution, there are two applications that absolutely have to be on your short list:  Microsoft Dynamics GP and Intacct.   The reasons for this are many:

  • They are both highly proven, industry leading solutions
  • They both have extremely flexible financial reporting
  • They both have good controls and audit trails.  In fact, Intacct is endorsed by the AICPA.
  • They both integrate well with other applications
  • They both have strong grant and fund tracking and reporting
  • They both offer real-time operational and financial visibility
  • They both have great reputations for quality and technical support

So, if Dynamics GP and Intacct are both such great fits for non-profits, how do you select between them?    One way, is to look at the technology.   Dynamics GP is a client-server application that can be run in-house or in a hosted environment.    Intacct, on the other hand, is a SaaS (Software as a Service) application that is only available through the cloud.   For organizations that already have strong IT infrastructure and prefer to have their applications in-house on their own servers, Dynamics GP may be a better fit.   However, for organizations with outdated IT infrastructure that are open to moving to the cloud, Intacct is probably the solution of choice.

There are obviously other considerations that need to be taken into account when deciding on a new financial accounting software solution.    Here are a few other differentiators to consider:

Microsoft Dynamics GP

  • Broader functionality.   Dynamics GP is a more mature (i.e. older) application.  As such, it offers more functionality for those who need it.   For example, GP comes standard with a Fixed Assets module and it has optional payroll and HR modules.   These modules are only available through third parties with Intacct.
  • Easier to find people who know it.  Because Dynamics GP has been around longer and has so many users, there is a significantly larger base of people that know and support it.  This in turn makes it easier to find employees with previous product experience.
  • Stronger integration with Microsoft Office.  Since Dynamics GP is a Microsoft product, it stands to reason that the integration with Word, Excel and Outlook is very strong.

Intacct

  • Faster growing.   Intacct is currently the fastest growing financial accounting application.
  • Newer technology & more frequent updates.   Intacct is built on newer technology and can be updated more quickly in response to market demand.   Furthermore, since it is a SaaS application, updates are seamless.
  • Easier transition for organizations who are graduating from Quickbooks.   Intacct has a similar feel to Quickbooks and many of the original Quickbooks developers are now on the Intacct development team.  Because of this, Quickbooks users may find it much easier to transition to Intacct than most other solutions.
  • Better project accounting.   If you have the need to track time and expenses by employee against projects or programs, the Intacct project accounting functionality is far superior than that in Dynamics GP.    That being said, if the time and expenses are being tracked outside of the financial accounting system and then need to be imported, both Dynamics GP and Intacct will work well.

Obviously, this is a high level comparison and there are many other factors to consider.    One thing is clear, though.   Both Intacct and Dynamics GP are outstanding options for non-profits that are looking to migrate to a higher end financial accounting solution.

If you have questions or would like a free case study on how a small non-profit saved time and money by migrating to Dynamics GP from Peachtree, please e-mail us or visit our website.

Maner Costerisan, a Michigan-based CPA firm, Intacct reseller and Microsoft Gold Certified Partner, specializes in helping Not-for-Profits improve operations and support their mission through accounting, CRM and productivity software solutions.     For more information on how we can help you excel in these challenging economic times, please contact us or visit our website.

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ERP professionals providing insight and advice for not for profit organizations.