The Challenge

In an effort to increase accountability, not-for-profit organisations are looking for financial information systems to help better manage donations and expenditures to benefit their clients.  Fund raising and grant applications can be tough and many not-for-profits are facing intense pressure to do more with less.

Not-for-profit organizations have to adjust to a changing regulatory environment requiring more reporting, more detail and demanding more scrutiny than ever before.  The reporting requirements have significantly changed the way not-for-profits need to capture and report information.

In addition to the regulated reporting, many not-for-profit agencies are trying to look beyond the data and to get relevant information from this data.  They need to produce relevant information that allows organizations to identify risks, easily notice trends and to identify areas to reduce spending.  Information that allows you to look forward to ensure you’ll be prepared to deliver on your mission.

The need to operate an integrated system has risen over the year.  Not-for-profits need a financial application that integrates with the operational solutions – like fund raising.  All data needs to be connected so it can be effectively analyzed.  The high cost of maintaining outdated, unintegrated systems has come under tight scrutiny.

We all know that NFP financial management needs are different than that of commercial businesses. They require a system to handle transactions with fund accounting general practices.  Accountability to Budgets makes it necessary for the accounting solution to manage encumbrances and be able to report those encumbrances on statistical reports showing the fund balances and appropriations.

Microsoft Dynamics GP is an integrated business system that gives Not for Profit agencies the agility to stay competitive; improving financial performance from fund accounting, grant management, encumbrance management and commitments, allowing organisations to focus on their growth.

Along with a full range of financial and business management applications, Microsoft Dynamics GP offers capabilities designed to help charities, associations, membership organisations, churches, art organisations, education establishments and other not-for-profit groups adhere to regulations and controls, manage grants and budgets proactively and improve efficiencies for account processes.

Microsoft Dynamics GP frees you to focus on your purpose with specialised financial management capabilities that include:

• Inter-fund Accounting – streamline and automate the transfer of balances between funds, eliminating the need to manually reconcile fund accounts
• Control Account Management – gain a detailed picture of your financials by managing payables control accounts by reporting segments
• Encumbrance Management – maintain granular control over budget expenditures and monitor encumbered purchases from any point of time
• Commitments – enable employees to enter purchase requisitions online and track them as commitments against budgets
• Grant Management – manage grants proactively, help ensure accountability to sponsors and maintain tight control over project and funding success.

To download Not for Profit PDFs, click below:

Not for Profit Overview - Grant Management - Encumbrance Management

Gyrosoft in the NfP sector

Gyrosoft has been working with NfP clients for over 20 years including charity, education, social housing and the arts.  Our customers include some very large names such as Amnesty International, The Salvation Army and Kings College Cambridge, but we equally work with smaller organisations such as the Royal Academy of Engineering, the Royal Aeronautical Society and Chichester Festival Theatre.

We also work closely with the Charity Finance Directors Group who keep us up to date on legislative and financial changes; Blackbaud International and their Raisers Edge product and Microsoft, our largest partner, to deliver the Dynamics GP integrated financial application.

Our objective is to deliver "Connected Business" for NfP clients, using technology to reduce cost, improve efficiency and increase visibility throughout your organisation.