Why Every Non-Profit Should Consider Sage Intacct for Financial Management

Sage Intacct should be of interest to non-profit, charitable, non-governmental, or not-for-profit organisations who are testing out ERP or accounting software.   

In this article, we’ll assess Sage Intacct’s benefits and drawbacks for non-profit organisations, as well as the features and functionalities it offers, the prices, alternatives, and how as a non-profit entity, how it could enhance your operations.  

What is Sage Intacct? 

Sage Intacct is a cloud-based financial management tool. It is to assist companies in automating financial procedures like accounting, revenue recognition, purchasing, and financial reporting. Sage Intacct is noted for its scalability and adaptability and is designed for medium-sized businesses as well as several non-profits, charities, and NGOs. It may be accessible from any device with an internet connection and integrated with other programmes and systems.    

What non-profits us Sage Intacct? 

All sizes of non-profit organisations, from little local charities to huge worldwide ones, select Sage Intacct as their accounting software of choice.   

For example, FFT is a not-for-profit Software-as-a-Service (SaaS) provider in the education sector. They implemented Sage Intacct to revolutionise their finance and business operations. 

CITC is another non-profit organisation that has benefited from using Sage Intacct. By switching to Sage Intacct’s cloud accounting, CITC was able to better manage their business and save time on reporting.  

Vitamin Angels, although not based in the UK, is a global non-profit organisation that has experienced significant improvements in their financial operations after implementing Sage Intacct. They were able to increase restricted revenue by $14 million over three years, improve accounts payable efficiency by 60%, and save 10 hours per month in accounts receivable and revenue data entry 

Other non-profit organisations that have acknowledged utilising Sage Intacct include The Red Cross, the YMCA and over in the USA Habitat for Humanity, Goodwill Industries International, United Way, National Park Foundation and National Public Radio (NPR) are just some of the non-profits using Sage Intacct.   

Sage Intacct Advantages for Non-Profits 

Sage Intacct is a powerful and user-friendly accounting programme that enables non-profit organisations to streamline their financial operations. The following are some of the main justifications non-profits use Sage Intacct:    

• Financial Visibility 

Sage Intacct offers non-profits real-time financial information so they can make better decisions. They can simply track spending, contributions, and grants using the software, which helps them better comprehend their financial situation.  

• Automation 

Many of the time-consuming and onerous financial management procedures, such budgeting, payroll, and invoicing, are automated by Sage Intacct. This allows nonprofit workers to concentrate on other crucial activities like providing programmes and raising money.     

• Improved Reporting  

A variety of reporting options are available with Sage Intacct, including grant management reports, budget vs. actual reports, and financial statements. These reports may be simply exported to Excel or other well-liked formats and can be tailored to the particular requirements of the organisation.    

• Scalability 

Sage Intacct is built to expand together with your business. Because it is cloud- based, it can be conveniently accessible from anywhere and scaled up as your non-profit expands.    

• Compliance 

Sage Intacct has built-in compliance tools that assist non-profits in adhering to legal obligations that are applicable in your country.   

Functionality of Sage Intacct for Nonprofits 

Financial Planning & Management 

The Sage Intacct Finance module can assist non-profit organisations in strengthening their capacity for financial management and reporting. The following are some of the main advantages and features of the finance module: 

• Automated accounting and financial management: The Finance module of Sage Intacct automates a number of the manual processes involved in accounting and financial management, including creating financial statements, account reconciliations, and journal entries.

• Support for different entities and currencies is provided by Sage Intacct’s Finance module, which is advantageous for not-for-profit organisations that operate across multiple locations or receive funding from abroad. 

• Financial reporting and analysis: The Finance module of Sage Intacct provides a variety of financial reports, including as balance sheets, income statements, and cash flow statements, that can assist not-for-profit organisations better understand their financial performance and make more informed decisions.

• Budgeting and forecasting: Not-for-profit organisations can build thorough budgets and forecasts using Sage Intacct’s Finance module, which can assist them in making future plans and identifying potential financial obstacles.

• Improved compliance: Sage Intacct’s Finance module may assist non-profit organisations in adhering to a variety of legal and compliance regulations which are crucial for non-profit organisations. 

Grants Administration 

Using Sage Intacct’s Grants Management module, not-for-profit organisations can improve their financial reporting and compliance while streamlining their grant management procedures. With the use of this module, businesses can: 

• Maintain records of grant applications, awards, and documentation needs. 
• Automate grant revenue recognition in accordance with FASB and GASB accounting principles in the US. 

• Keep track of and control grant budgets, costs, and encumbrances. 
• Produce thorough reports on grant compliance and performance. 
• Critical data may be easily captured and tracked, including grant-funded projects, funding sources, and project activities. 
• Produce accurate reports and financial statements that adhere to regulatory regulations or special donor, grantor needs.  

Not-for-profit organisations can enhance their grant management procedures, boost operational effectiveness, and better demonstrate accountability to their donors, grantors, and regulatory authorities by utilising Sage Intacct’s Grant Management module.    

How much does Sage Intacct cost for Non-Profits? 

The price of Sage Intacct for not-for-profit organisations might differ based on a variety of variables, including the organisation’s size and the particular modules or features required.  

The pricing of Sage Intacct for non-profits is largely based on the number of users and the modules chosen, and it is typically sold on a subscription basis. Additionally, the business provides a free trial period, which is advantageous for businesses thinking about using the programme.  

What kind of non-profits would Sage Intacct be suitable for? 

Sage Intacct is well-suited for various types of non-profit organisations, including faith-based organisations, non-profit healthcare organisations, educational organisations, community improvements, human services organisations, philanthropic organisations, membership organisations, and national NPOs & NGOs.  

Sage Intacct helps non-profits by providing features such as:  

• Multi-dimensional chart of accounts schema, which allows for better tracking and reporting of financial data.

• Streamlining fund, grant, revenue, and billing processes. 

• Automating processes and workflows, which saves time and reduces manual work.

• Offering powerful financial reporting and dashboards for real-time financial visibility.

• Seamless integration with industry apps for a more comprehensive solution.

How can non-profits in the UK get started with Sage Intacct? 

Non-profits in the UK can get started with Sage Intacct by following these steps: 

Research Sage Intacct: Visit the Sage Intacct website and learn about its features, benefits, and how it can help non-profit organisations streamline their financial operations. 

Contact a Sage Intacct partner: Reach out to a Sage Intacct partner in the UK, such as Itas Solutions. 

They can provide more information about the software, pricing, and implementation process. 

Request a demo: Schedule a personalised demonstration of Sage Intacct with a partner like Itas Solutions to see how the software works and how it can benefit your non-profit organisation. 

Obtain a quote: Contact a partner to discuss your organisation’s specific needs and obtain a personalised quote for the software. 

Choose a Sage Intacct package: Based on your organisation’s requirements and budget, select a Sage Intacct package that includes the necessary features and modules. 

Implementation and training: Work with your chosen Sage Intacct partner such as Itas Solutions, to implement the software and train your staff on how to use it effectively. 

Ongoing support: Take advantage of the support provided by your Sage Intacct partner and the Sage Intacct community to ensure your non-profit organisation continues to benefit from the software. 

By following these steps, non-profits in the UK can successfully implement Sage Intacct and start streamlining their financial operations, improving efficiency, and better managing their resources. 

About Us 

Here at Itass Solutions, we know that Sage Intacct is an effective tool for financial management and budgeting. We like it because of the types of different reports the system generates, the cloud-based accounting solution, multiple users can use the system at the same time and integration with other business systems means we’re big fans of Intacct. 

Itas Solutions started off serving one client in 1995 and now services over 200 businesses across the UK. We are always available to assist our clients. 

Itas is a business that our customers have trusted for more than 20 years, and we have expanded thanks to recommendations from them and IT professionals who value our educated but personalised service. 

To discover more about how Itas can help your business with finance automation, Sage implementation, and increased purchasing management, contact us at info@itassolutions.co.uk, phone us at +44 (0) 1824 780 000, or send an email.