Financial Transparency and Accountability for Nonprofits

Transparency and accountability are important issues for most nonprofit organizations that want to show members, donors, and constituents how funding and contributions are being used.  But how do you improve visibility if your software keeps data shrouded in a fog?  If you are spending too much time buried in Excel spreadsheets or fighting with your accounting software, it may be time for a change.

The Arc of Middlesex County, based in North Brunswick, N.J., is one of 20 chapters that make up the Arc of New Jersey and has the mission of providing support and services that encourage personal growth and quality of life for people with disabilities. When it was time to replace their outdated system, the Arc chose Serenic Navigator to handle financial reporting, budgeting and expense/approval processing.

Financial Reporting for Nonprofits
The Arc leaders felt Serenic Navigator had the greatest potential to grow as the organization developed.  Serenic Navigator provides improved visibility into the Arc’s data by using funds and dimensions to establish reporting structures that enable the Arc to improve reporting capabilities.

Navigator’s dimension structure allows the Arc to track 27 different cost structures, as well as the individuals they serve and the money they receive.  They can view fundraising and grants separately and track their service vehicles to a level that permits them to view the cost of gas and maintenance of each vehicle.

Expense/Approval Processing
Serenic Navigator provides the Arc with workflow with approvals, automating a previously manual process.  Workflow requires the approval of expenditures prior to the expense being incurred, allowing Arc’s leaders real-time veto capability over expenses.  The finance team can now process approved expenditures instead of seeking authorization on expenditures after they were incurred.

Read the entire case study on the Arc of Middlesex for all the details of how they gained transparency and flexibility by moving to Serenic Navigator, Microsoft’s leading financial management software for nonprofits.  You can also register for a free, hour long webinar to see how Serenic Navigator may help your nonprofit improve transparency and accountability.

AVF Consulting is a leading Serenic partner and Microsoft Silver ERP partner serving nonprofit organizations and NGOs across the United States. Visit our events page and register for a complimentary webinar to see if Serenic Navigator is right for your nonprofit accounting needs.

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