Getting meaningful information to users in time to make decisions should be the goal of any finance team. Sometimes, however, we focus on the financial information to the exclusion of other meaningful information that managers need. That’s why Intacct makes heavy use of Statistical Accounts to great effect. While everyone can use them, it’s especially powerful to use Statistical Accounts in Intacct for nonprofits.
Any good accounting system should be able to provide revenue numbers. But particularly for nonprofits, comparing that revenue number to the focus of operations or your organization’s mission can make all the difference.
A few examples might include:
- A faith-based organization knowing how much revenue is collected per attendee (where the number of attendees is the statistical value used in the calculations)
- An organization focused on providing services to children knowing how many children they have helped in a given time-frame — and knowing this by fund, grant, or geographical region
- Tracking the number of members and how that changes over time, either by itself or in relation to revenue
- The number of volunteers contributing time to any given program and how that changes
How Using Statistical Accounts in Intacct for Nonprofits Matters
In the examples above we’ve moved past simple dollars and cents to bring the financial information alongside the organizational mission. If revenue is climbing but number of contributors is dropping, for example, that tells us we have a lower number of high-dollar donors. That knowledge can dramatically influence future fundraising efforts and where to focus attention.
If you’re a nonprofit interesting in learning how Intacct can transform your organization, take a few moments to view an on-demand webinar of Intacct especially for nonprofits.