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Not Your Mother’s Chart of Accounts: Modern Day Nonprofit Accounting ApplicationsJOAN BENSONNonprofit Product Marketing Manager

MARYFRANCES PIDGEONNonprofit Solutions Specialist

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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

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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

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

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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

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 | info@intacct.com | 877-437-7765

FOR MORE INFORMATION:

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Interested in Learning More?

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Contact us directly info@intacct.com | 877-437-7765

Download a free white paperWhy Cloud Makes Sense for Nonprofits

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Thank You!

www.intacct.com | info@intacct.com | 877-437-7765

FOR MORE INFORMATION: