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Your earlier campaigns could’ve been a big hit, but are you ready for the fall fundraising world tour? It’s time to retake the stage, jump back into Fall Fundapalooza, and keep preparing for fundraising season.
Are you just getting started with your world tour? This blog covers the basics of preparing for the money raised during the fall fundraising season, and this on-demand video helps nonprofits level up their fundraisers.
As your development team enters the deep end of fundraising season, your job in accounting is to provide data to serve as the basis of both internal and external communications and to provide real-time updates to development teams to shape their campaigns throughout the entire donor journey.
Your nonprofit needs a combination of fundraising and accounting technology to position your team, keep everyone on the same page, and ensure nothing ruins the world tour.
Using fundraising and accounting software together creates an end-to-end solution that helps your nonprofit raise, account, allocate, budget, and report on those funds better through streamlined reporting and significant insights into fundraising and accounting.
An end-to-end fundraising and accounting solution is the key to nonprofit success and sets your organization up for repeatable, achievable fundraising success. Get the band back together and discover the four most important considerations technology provides when accounting for development.
1. Frontman: Financial Reporting
Financial reports are the frontman, taking center stage, shaping development campaigns, and making up the backbone of your organization’s financial setlist.
An end-to-end solution incorporates your nonprofit’s greatest hits: donation tracking, expense management, revenue projections, simple account reconciliation, and effortless report creation.
Rely on real-time financial reporting and enable your team to quickly access up-to-date financial data, making timely decisions like whether to get into that 10-minute expense and revenue report solo effortlessly, and more importantly, ensuring your organization manages cash flow effectively.
2. Lead Guitar: Automation
Technology automates the data entry process, reducing the time spent on manual input and minimizing errors.
As you get into the thick of fundraising season and approach the end of the year, the more your organization can embrace automation, the easier preparing for the end of the tour will be.
An all-in-one solution allows your team to handle increased workload more efficiently and allows your team more time for analysis.
3. On Bass: Budgeting
Budgeting and forecasting are the constant beat that holds the band tougher and ensures your organization is working towards its mission. Your budget ensures you’re meeting the goals to fund future financial needs and helps your team manage resources effectively during the high-stakes year-end season.
An all-in-one solution has built-in error detection mechanisms that help identify and correct discrepancies promptly, ensuring accurate financial records.
4. On Drums: Audit
The band’s wild card is also one of its most important members: audits. An all-in-one solution provides robust audit trails, documents every transaction and change made in the system, and ensures your organization is a good steward of raised funds.
This transparency is crucial for internal and external audits and helps maintain regulatory compliance. Plus, your audit provides the data that is the basis of year-end financial reports.
This guide is a step-by-step resource for auditing nonprofit financials. Whether you have an established process or need help getting started, it covers everything you need to know.
The accounting team’s role in fall fundraising may sometimes feel backstage. Still, when you bring the band together and utilize a complete accounting and fundraising solution, you ensure the show goes on, and your organization reaches its most important audience: your beneficiaries.
Begin your fundraising world tour and see what’s possible with GiveSmart and MIP Fund Accounting
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