Well-designed and implemented technology business solutions are the key to operating efficiently. Many solutions and services are designed specifically to help not-for-profit organizations improve performance through technology. One such solution is Interfund Management.
Many nonprofits still struggle with reconciling their accounting data manually. With detailed fund-tracking requirements, this can be quite an undertaking. Funds often require distinct setup within a financial management system in order to comply with an increasing number of strict reporting guidelines. Microsoft Dynamics GP Interfund Management assures that accounts are balanced, without the common errors of manual reconciliation.
Interfund Management also helps you reconcile accounts that are in different companies or divisions. With Interfund Management, “due to” and “due from” transactions are created automatically to help you keep individual fund accounts in balance. When general ledger transactions are posted, they are analyzed to determine if the effects on each fund are balanced. If entries are needed to keep the fund accounts balanced, they are generated automatically.
With Microsoft Dynamics Interfund Management, you can:
- Minimize time spent tracking related accounts with an integrated financial system.
- Transfer finds across accounts, groups, divisions, and companies without manual entry.
- Balance accounts quickly and without errors.
- Automatically adjust incorrect entries with automated transaction analysis.
- View all financial information cohesively for a comprehensive view of your company.
To find out more about setting up Interfund Management, contact MIG & Co. The MIG team provides powerful solutions that allow NFPs to automate processes while reducing costs. Contact us to find out how our technology can help your business grow and improve in this challenging economic environment.
MIG & Co. – A New York City based Microsoft Dynamics Gold Partner, with vast nonprofit/ not-for-profit experience.