Fund Accounting Software Considerations to Make that Help in Going Paperless Part 1

There are so many reasons the popularity of and interest in going paperless as nonprofit organizations have been heating up lately. To learn more about these reasons, visit here. If you, too, are now interested in transitioning to a paperless office as a nonprofit but have little prior knowledge or past experience, you’ll need to make some important considerations as you start the process of going paperless. These will help you in determining the best fit in a fund accounting software solution that can help carry out so many important tasks while simultaneously making it much more possible to go paperless. These considerations, based on your particular organizational needs, will help you even when you may not know what questions to ask to get what is best for you and will help you on the journey of selecting fund accounting software, such as AccuFund software, that will be of true value to your organization.

These considerations will ultimately help you to make the most appropriate decision without incurring costly surprises when considering accounting software and going paperless. They can help ensure you make a smooth transition to a streamlined and paperless environment.

Noteworthy Considerations in the Process of Selecting Fund Accounting Software that Assists with Going Paperless as well:

  1. Are you looking for a strong accounting solution more so than simply a paperless fix? Accounting application integrity of the software you choose should be a number one priority. You should not choose a fund accounting software solely for its ability to help in going paperless but instead for its ability to help get and keep accounting activities and records in order. It should not circumvent the rules of the accounting application, and if it does, this is a big red flag and warning to avoid this type of solution. Instead, look for a solution that streamlines processes and provides an ease of access to documents. An added bonus is that technology and software greatly assists in going paperless, but this should not be the principle concern. Be sure the software you chose is truly a fund accounting software.
  2. Is the accounting software able to extend across the organization’s various departments or be ready to handle future growth? This pertains to expanding an accounting solution’s functionality from one department within the organization to others. This often occurs in a series of steps or phases so personnel can familiarize themselves with the solution before expanding it out to other processes and personnel. This ability to grow with organizational needs is an important feature needed in such a solution if going paperless is going to occur throughout the organization. In terms of extensibility and scalability, consider there four areas: architecture, configurability, scalability, and modularity. Here’s what these areas mean. The system should store documents in their original formats and run on a range of hardware. The system should configure in order to match your processes and integrate into systems you use today. The system should be able to grow in both number of users it can support and quantity of documents it can handle. Finally, the system should be able to provide you with the functionality you currently need and the ability to expand and add more functionality as you grow the use of the system.

Finding the best accounting software for your nonprofit is not easy but can be beneficial and greatly assist in your paperless office goal. Most of all, having a fund accounting software such as AccuFund software not only assists in going paperless but is beneficial to the organization and its processes overall. Please contact us here at RBP Methods to learn more selecting, implementing, and using fund accounting as a nonprofit. We would be more than happy to assist your organization in meeting its needs. Stay tuned next week for a few more noteworthy considerations to make regarding going paperless and selecting the best software.