It doesn’t matter how much you love your current accounting system, the time will come when you need to think about making a change. It’s like when you find a hole in the toe of your coziest pair of slippers. You just can’t patch them up anymore. If your current accounting system is just not doing what you need it to, now is the time to look into fund accounting software.
Is It Time for a New System?
Change is always hard, and changing accounting systems can be a little bumpy for some companies. Employees are used to working a certain way. The current system is familiar and comfortable. They know precisely how to run reports, input data, and find what they need.
But there are certain signs and signals that let you know when it’s time for a new accounting system. Do any of these sound familiar?
- Expansion: Your organization has grown since you implemented your original accounting system. Now you’ve got several locations, additional staff and more volunteers. The current system can’t accommodate all of its users. You’re constantly paying more money for additional site licenses so that telecommuting workers and new locations can access the same data.
- Out-of-synch data: Separate systems at numerous locations mean that you’re regularly updating databases so that the information is in sync. You’re feeling frustrated because changes made to one database doesn’t flow through to others.
- Changing priorities: When you installed your current system many years ago, you just needed to replace a paper-based accounting system with a computerized system. Now, however, you need to track different funds. You’ve expanded your operations, and offer more services, but your system can’t handle the newer information. Priorities have changed, but your system hasn’t.
- Forever fixing: “Forever fixing” or “constantly patching” means that you’re always patching, fixing, or tweaking your existing system to get it to work. Maybe it crashes a lot. Perhaps it was infected with a virus last year, which your IT people were able to remove, but it hasn’t worked the same way since. It stalls, freezes, or otherwise doesn’t work the way it should.
If you recognize your organization in any of these scenarios, it’s time to consider a new accounting system. You’ll be amazed at what’s available now for small to mid-sized nonprofit organizations.
Newer accounting systems on the market are cloud-based. Cloud-based systems run off of the internet, so there’s no software to buy and install. These systems are also accessible wherever you have internet access. You can continue working whether you’re at home or at the office, and you can add additional locations quickly and easily.
Because such systems run off of the internet, the data streams in “real time” to the main database and back out to the users. This means that changes made in one location in your company flows through to all users. No more accessing data in one part of your company and finding it differs from data in another part.
Lastly, newer accounting systems synchronize with other systems such as membership systems, donor tracking and more. Your nonprofit can integrate multiple systems into an accounting system and track all of its operations.
Nonprofit Accounting Software Solutions From RBP
Today’s nonprofit organizations need a sophisticated database system to keep things going in the right direction. At RBP Methods, we care about our clients’ success. We offer financial management, fundraising solutions, and grant management software, as well as nonprofit financial management software and consulting.
If you have been thinking about making the change to a new fund accounting software RBP Methods can get you going. Don’t be scared of the expense and downtime, RBP will work with you to pick the right software solution to make the transition smooth and budget friendly. Check out our free whitepaper Accounting For Change. For more information, contact us or call 503-648-9051.