In the Not for Profit sector Microsoft Dynamics GP is the go-to solution as an ERP. Many factors are considered for these businesses. Tracking funding, keeping costs down, critical reporting needs, and the list goes on. Below are a few features that Microsoft Dynamics GP offers that are critical to operating a non-profit agency:
Interfund Management – the Interfund functionality in GP allows companies to reconcile accounts that are in different companies or divisions. This module auto-creates the ‘due to’ and ‘due from’ transactions to keep the individual funds in balance.
There are two different methods available in Interfund Management:
- Single Due to/Due from – the simpler of the two. Generally used by companies that do not need to track the activity between funds.
- Clearing fund/central treasury method – allows more visibility into the information about your company’s current cash position. Easily determine what each division owes to the central fund. This method is best for companies that need to track interfund activity on a regular basis.
Grant Management – the Grant Management module works with Analytical Accounting to enable companies to track grant revenues and expenditures at the transaction level. It also allows you to create grant budgets, start and end dates. GP will ensure the transaction is within the time frame and budget.
Encumbrance Management – this enables companies to reserve funds within a budget when a purchase order is created. GP allows you to create an encumbrance for standard, drop-ship, blanket and drop-ship blanket purchase orders. Authorization can be set up with passwords to ensure the order does not exceed budget amounts. Reporting and inquiries are available to view the encumbrances against the budget amounts as well as information regarding budget to actual.
You can see, with these outstanding features, among others, why GP is the ‘Go-To’ solution for Not-for-Profits!
Call us today to learn more about how GP can improve your business' financial processes!
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