Choosing the right accounting software for your nonprofit organization can be confusing. There are so many choices, each with helpful out-of-the-box features and customizable options. How do you decide? Below is a quick look at three of the top ERP accounting software solutions for middle-market organizations.
Dynamics GP Is Popular for Good Reason
Currently, about 400 of the nonprofit organizations in the Twin Cities metro use Microsoft Dynamics GP. While Dynamics GP is a horizontal product, Microsoft has inserted and maintained nice vertical functionality with this product in the nonprofit area. Dynamics GP does a great job of handling encumbrances, control accounts and even light grant management. Dynamics GP has tremendous integration tools and strong financial report writing capabilities. While it is currently the most-used product in the nonprofit arena, it is certainly not the only one available.
Dynamics SL Offers Great Multi-Company Capabilities
Because nonprofits typically run sometimes very different funds or programs, each needing their own balance sheet, having accounting software with a strong multi-company capability can save a lot of month end work. This is one area where Microsoft Dynamics SL shines. For starters, Dynamics SL can be set up so that one checking account and one set of checks can easily handle disbursements on behalf of multiple entities without the need for confusing and time-consuming month end inter-fund or inter-program journal entries.
Another unique feature of Dynamics SL is the ability to track a single project from every angle. Project and task prompts appear in General Ledger, Accounts Receivable and Accounts Payable so all transactions for revenue, labor, time, inventory and more are reported with the project. A social service organization can also track a family as a “project,” with tasks including a clothing budget, a food budget, a housing budget, etc.
Serenic Navigator Is the New Software of Choice
Today, many of the nation’s largest and most complex nonprofits are turning to Serenic Navigator, built on the Dynamics NAV toolset, to run their enterprises. Its easy-to-understand, real-time budget management capabilities make it a great choice for nonprofits.
Serenic BudgetVision enables you to manage your whole budget lifecycle. The budget administrator can define sub-plans, track the progress and status of multiple budgets at the same time, and make adjustments to posted budgets. Additionally, budget preparers can create different what-if versions of their budget until they select one to submit for approval and/or posting.
Each of these ERP accounting products has specific areas in which they excel. For a more comprehensive look at how they compare, you are invited to attend our
By Jack Boyer, Boyer & Associates,