Nonprofit accounting software

Empower your team by automating the fund management so that you can focus on carrying out your mission.

nonprofit software

Nonprofit organisations

It’s all about funds and grants

Funding is a critical factor as it allows you to carry out your mission. To support your programs and initiatives you may receive funds or grants from various sources including government agencies, foundations, companies, and individual donors. Funds and grants that can be committed, assigned, allocated, used, reassigned, moved, refunded…   ​

Fund reporting is essential because of the nature of your organisation. You are required to file regular reports to your funders as a condition of receiving funding. Because of these reporting requirements, you must provide information about your finances and operations, as well as you need to keep your stakeholders informed about your activities and progress.  ​

On top of that, the importance of resource planning and time capture and submission shouldn’t be underestimated. In the end, as in any other professional services business, it’s people who bring your ideas further. The big difference is that you receive funds before you spend them, so a transparent fund management is required in the best interest of your current and future funders.​

Empower your organisation with nonprofit accounting software

Implement automation to streamline fund management and improve compliance. Your team often relies on separate Excel sheets, Word documents, or even different systems to manage your funds. Not only is manual data entry a waste of time, but also a potential source of error. In the worst-case scenario, your compliance is put at risk.  ​

Manage the entire lifecycle of a grant in a Fund Ledger, fully integrated with your General Ledger. No concerns in case you receive multiple grants at once for a program because of different sets of requirements and deadlines. Sometimes the grants you receive are restricted for a specific action or initiative. Assigning, reassigning, allocating and reallocating grants can become an administrative nightmare for your organisation in terms of traceability and reporting, which can result in the loss of funding.

Live data reporting in one click. Lacking an integrated system for reporting on grant allocation makes it almost impossible to keep track of your spending and make accurate cost projections. Up-to-date reports provide transparency on the remaining funds on a grant and allow you to identify overspending, enabling you to reallocate grants as needed.​

Compliance made easy. One of your main administrative challenges is the need to maintain accurate financial records and comply with relevant regulations. Managing compliance is time-consuming, particularly if your charity or non-profit organisation is small and short-staffed. Easy reporting can also make it simpler for you to provide the necessary documentation and information for audit purposes. This includes standard reports such as Statement of Financial Statements (SOFA) and Movement of Funds, as well as the option of easily configuring your own reports to meet your specific needs.

Straightforward overview of both workload and availability for optimal resource utilisation. Get an insight to make sure that no resources are unutilised and procure high-impact initiatives.  ​

Secure the resources needed for your projects. Achieve more successful and impactful initiatives by finding the adequate resources for each program.​

Collaborative resource planning with interactive drag & drop functionality. Only ONE resource planning that is correctly updated and reflects your weekly planning. Facilitate easy time reporting by updating timesheets with work assignments. Add to Outlook calendar as part of daily routine.​

Live resource forecast for your actions in a click thanks to being part of your business application.

Full access to detailed and trustful data from ONE source. Working with different systems or even with bridging Excel spreadsheets means that your data is spread all over. This makes it very difficult to have an overall view of your projects and initiatives, identify risks, and take corrective measures if needed.  ​

Multiple on-demand drill-down data visualisation options for better analysis of your grants and overall project performance. Get as many dashboards as you need to get full insights into your non-profit organisation.

Workload & availability

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Non-profits have a primary mission to serve the public good or address a specific social issue. Non-for-profit organisations typically rely on a diverse range of funding sources, including donations, grants, sponsorships, and fundraising events, to support their operations and programs. Like any other professional services organisation, they are based on projects and resources. Nonetheless, the projects can be commercial projects (time invoicing) or funded projects. In the latter case, where there’s no need of invoicing it’s when pryme Fund Management comes into play.

Funds and grants are both types of financial support that organisations can use to support their operations and programs. However, there are some key differences. Funds are generally available to a wide range of organisations, while grants may have specific eligibility criteria, such as being a non-profit organisation. Funds are usually awarded through a more informal process, such as an open application process. Grants, on the other hand, often require a more formal application process, such as a written proposal. Funds are generally not required to be repaid, while grants may have specific conditions attached such as intensive reporting and compliance. Funds can come from a wider variety of source than grants.​

Nonprofit accounting software is used to manage and track the financial performance of a fund or grant. It ensures that the fund is in compliance with regulatory requirements and generates reports and analytics on the fund’s performance to provide insights for decision making. It helps in streamlining the workflow and in managing the non-profit organisation more efficiently. ​​

Digital tools can automate repetitive tasks and streamline processes, allowing your staff to focus on your initiatives and programs. This can lead to increased efficiency and productivity. By eliminating Excel spreadsheets and outdated software, you can get more done in less time. The appropriate software can help you manage, track, and analyse data more effectively. This can provide valuable insights into your non-profit organisation’s operations and performance.​

Implementing a fund accounting software aka nonprofit accounting software that will help you automate repetitive tasks related to fund and grant management, resource management, compliance, etc.​

You should regularly review and analyse financial data and make adjustments as needed. A fund management application can help you ensure that your funds and grants are being used efficiently and effectively.​

With a cloud-based fund management software, you can access your data and applications from anywhere and from any device with an internet connection, allowing your team to work remotely. Additionally, they are highly scalable, which means that they can easily accommodate changes in the size and needs of your non-profit. On top of that, cloud-based non-profit management systems are automatically updated and backed up, so that your data is safe and secure. Last but not least, cloud-based software is often more cost-effective than on-premises solutions.  ​

A subscription-based fund management software can vary depending on a number of factors, such as the features and functionality included, the number of users, and the pricing model. A subscription-based model (SaaS- Software as a service) can cost anywhere from a few dollars per user per month to several hundred depending on the features and functionality. ​​

There are a variety of insights that can be used to measure the performance of your non-profit organisation. A few examples: program performance, financial performance, fundraising performance, impact and outcomes, etc.​

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