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CONFIDENTIAL | 1
Not Your Mother’s Chart of Accounts: Modern Day Nonprofit Accounting ApplicationsJOAN BENSONNonprofit Product Marketing Manager
MARYFRANCES PIDGEONNonprofit Solutions Specialist
CONFIDENTIAL | 2
Housekeeping
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Today’s Agenda
Brief Intacct overview
Chart of accounts: a better way
Intacct demonstration
Questions and resources
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Intacct Delivers Real Business Advantages to Nonprofit Finance
Achieve anytime, anywhere accessibility
Ensure control and compliance
Gain real-time organizational visibility
Ensure proper stewardship of funds
Gain operational efficiencies
Get out of the no value added IT business
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95% Customer Satisfaction
Nonprofit Organizations Rely On Intacct
Real
Value8,500+Growth Companies
51,000+Business Entities
Growing with
Intacct
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Built for Success
10+ year track record of delivering results
Top tierinvestors
Choice of accounting and finance experts worldwide
Top-ratedworkplace
Industry
awards25 Best
Small Biz Apps
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Why Chart of Accounts is Hard to Manage for Nonprofits
Nonprofits must account for:
Funds
Grants
Projects
Programs
More
And report back to multiple stakeholders:
Board of Directors
Donors
Executives
Congregation
More
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A Better Way: Intacct Dimensions
Intacct dimensions are attributes that allow for comparative (cross-tab) and hierarchical (drill-down) organization of key information
It enables categorization of a single element with multiple attributes for complex analysis and comparison
Dimensions allows users to easily access data with context
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Traditional G/L ApproachBase GL Account
Fund (Location)
Grant (Dept)
Project / Program (Project)
Restriction(Class)
Leverage Fund, Grant, Program etc. as GL Dimensions and choose from drop-down on transact
Old Approach --Build a segmented COA (large, complex, more cumbersome to maintain & utilize)
Printing – General – Federal – Fund Raising – Unrestricted 6140 100 001 001 001
Printing – General – Federal – Management – Unrestricted 6140 100 001 002 001
Printing – General – Federal – School – Unrestricted 6140 100 001 003 001
Printing – School – Federal – Fund Raising – Unrestricted 6140 200 001 001 001
Printing – School – Federal – Management – Unrestricted 6140 200 001 002 001
Printing – School – Federal – School – Unrestricted 6140 200 001 003 001
Nonprofit OrganizationGL Account Dimensions Example (single account)
Entity Structure
Fund (Location) Grant (Dept)Project / Program
(Projects) Restrictions (Class)
100 G&A 001 Federal PR1 Fund Raising Unrestricted
200 School 002 State PR2 Mgmt/General Temporarily Unrestricted
300 Facilities003 Local PR3 Other Permanently Unrestricted
400 Cap Assets 004 Corporate
500 Debts
CONFIDENTIAL | 10
Traditional G/L ApproachBase GL Account
Fund (Location)
Grant (Dept)
Project / Program (Project)
Restriction(Class)
Leverage Fund, Grant, Program etc. as GL Dimensions and choose from drop-down on transact
Old Approach --Build a segmented COA (large, complex, more cumbersome to maintain & utilize)
Printing – General – Federal – Fund Raising – Unrestricted 6140 100 001 001 001
Printing – General – Federal – Management – Unrestricted 6140 100 001 002 001
Printing – General – Federal – School – Unrestricted 6140 100 001 003 001
Printing – School – Federal – Fund Raising – Unrestricted 6140 200 001 001 001
Printing – School – Federal – Management – Unrestricted 6140 200 001 002 001
Printing – School – Federal – School – Unrestricted 6140 200 001 003 001
5 Funds x 4 Grants x 3 Programs
x 1 Restriction
60 account combinations
of natural account number
for “printing”
Nonprofit OrganizationGL Account Dimensions Example (single account)
Entity Structure
Fund (Location) Grant (Dept)Project / Program
(Projects) Restrictions (Class)
100 G&A 001 Federal PR1 Fund Raising Unrestricted
200 School 002 State PR2 Mgmt/General Temporarily Unrestricted
300 Facilities003 Local PR3 Other Permanently Unrestricted
400 Cap Assets 004 Corporate
500 Debts
CONFIDENTIAL | 11
Traditional G/L ApproachBase GL Account
Fund (Location)
Grant (Dept)
Project / Program (Project)
Restriction(Class)
Leverage Fund, Grant, Program etc. as GL Dimensions and choose from drop-down on transact
Old Approach --Build a segmented COA (large, complex, more cumbersome to maintain & utilize)
Printing – General – Federal – Fund Raising – Unrestricted 6140 100 001 001 001
Printing – General – Federal – Management – Unrestricted 6140 100 001 002 001
Printing – General – Federal – School – Unrestricted 6140 100 001 003 001
Printing – School – Federal – Fund Raising – Unrestricted 6140 200 001 001 001
Printing – School – Federal – Management – Unrestricted 6140 200 001 002 001
Printing – School – Federal – School – Unrestricted 6140 200 001 003 001
5 Funds x 4 Grants x 3 Programs
x 1 Restriction
60 account combinations
of natural account number
for “printing”
Nonprofit OrganizationGL Account Dimensions Example (single account)
Entity Structure
Fund (Location) Grant (Dept)Project / Program
(Projects) Restrictions (Class)
100 G&A 001 Federal PR1 Fund Raising Unrestricted
200 School 002 State PR2 Mgmt/General Temporarily Unrestricted
300 Facilities003 Local PR3 Other Permanently Unrestricted
400 Cap Assets 004 Corporate
500 Debts
1 natural account
Intacct ApproachBase GL Account Fund Grant
Project / Program Restriction
Leverage Location, Dept, Project as GL Dimensions and choose from drop-down on transact
Printing 6140
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The Difference with Dimensions
Area of Benefit Drivers Examples
Flexibility to Plan and Manage Based on Attributes Tailored to Any Business or Industry
Ability to capture a more granular level of operational and financial data tailored to the business
No need for costly 3rd party reporting or data warehousing
solutions = $1,000’s to $100,000’s in savings
Increased Finance Productivity Automation of reporting
No need to manually capture, aggregate and manipulate data in Excel to produce reports
1 FTE = $150k/annual savings
Better Reporting and Visibility Real time visibility into the business
Improved multi-dimensional analysis with drill down to transactional level detail
More informed decisions
Faster time to results; take advantage of opportunities now not later when offline reports are made available
More Efficient Information Distribution
Anyone, anytime, anywhere can access real time, consistent information
Improved operational productivity. For a $20M organization, a ~1% improvement provides a
~$200k benefit
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Today’s Demo: Intacct “Financial Intelligence”
Real-time visibility
– FASB 117—compliance reporting
– FASB 116—activity by funds and grants
– Form 990—statement of functional expenses
– Drill-down to transactions
Tag transactions using “Dimensions”
Workflow and automation:
– Streamline “procure-to-pay”—track grants and funds
Customize transaction fields
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Questions?
www.intacct.com | [email protected] | 877-437-7765
FOR MORE INFORMATION:
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Interested in Learning More?
Try Intacct with a free 30-day trialhttp://www.intacct.com/trial
Attend an upcoming webinarhttp://www.intacct.com/webinars
Follow us on Twitter@intacct_corp
Connect with us on Facebookhttp://www.facebook.com/Intacct
Contact us directly [email protected] | 877-437-7765
Download a free white paperWhy Cloud Makes Sense for Nonprofits
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Thank You!
www.intacct.com | [email protected] | 877-437-7765
FOR MORE INFORMATION: