We understand - you’re a busy nonprofit professional with dreams of changing the world. Accounting software probably isn’t very high on the list of things that keep you up at night. But there are few things that make as much of an impact on your day-to-day AND long-term operations as your financial systems. From tracking federal grants to paying the electric bill, your organization’s accounting program should make your job easier - not harder. That’s why we recommend cloud accounting for nonprofits.
Depending on the nature of your organization, you might spend more time outside the office than in it. Whether you’re flying to another country or pounding the pavement in your own community, it’s important to have access to information on the go. With cloud-based financial programs like QuickBooks Online and Bill.com, you can check your cash flow, pay bills, and download financial statements from your laptop or smartphone. Real-time information is at your fingertips, no matter where you are.
When your data is in the cloud, you’re not chained to a desk - and neither are we. Though Altruic Advisors has offices in Colorado, Michigan, and Washington, DC, our staff can work from almost anywhere. So whether we’re collaborating on-site, traveling between locations, or hunkering down at home base, we can answer your questions quickly and comprehensively. This also limits the amount of time we need to physically spend on-site during audits and reviews, which saves you money. (And means we won’t need to spend weeks hogging your conference room/spare office/broom closet to complete our fieldwork.)
Cloud accounting is just as secure - if not more so - than traditional accounting software. Your financial information is stored on remote servers with hefty security methods such as encryption, password-protection, and two-factor authentication. It’s also backed up constantly, so there’s no need to worry about files being destroyed or misplaced. When disaster strikes, your sensitive data is still fully protected.
It Can Save You Money
Despite increased efforts to change the conversation, “overhead” is still a dirty word in the nonprofit sector. Many nonprofits are looking for ways to lower their administrative costs and increase efficiency. Cloud accounting can help lower your printing costs, eliminate hardware upgrades and server maintenance, and cut back on IT support.
And don’t forget the more subtle cost of sheer manpower. Instead of spending hours sifting through boxes of old paperwork, a simple keyword search will yield exactly what you’re looking for within seconds. Cloud accounting can automate many processes that used to be performed manually, and make it easier to track complicated financial metrics like deferred revenue and restricted funds. That means you and your staff can spend more time on your mission, and less time banging your head against your desk.
Finally, whether you acquire your cloud accounting services independently or through a bundled plan like our CFO Solutions, you can generally expect to trade large up-front costs for lower subscription-style plans. This breaks the cost into more manageable monthly payments - ideal for new and smaller organizations that might struggle to come up with a large amount of cash at once.
The cloud is becoming increasingly popular among nonprofit organizations, and for good reason. As a nonprofit, you have unique needs and responsibilities that demand flexible, secure, and cost-effective solutions. Cloud accounting can provide all that and more.