The not for profit community has been utilizing Dynamics GP with great success for many years. Microsoft Dynamics GP has proven to be easy to integrate and continues to grow in its features and functionality as new versions of GP are released. The addition of different user licensing types also allows for a more cost effective approach to ownership with both on-premise or cloud based options. Dynamics GP offers functionality that is of great benefit to Not for Profit organizations like Grant Management, Encumbrance Management, Interfund Management and Control Account Management.
Grant Management integrates with Analytical Accounting allowing you to efficiently manage your grants. Users are able to get daily, monthly and annual reports for review to allot for sponsor accountability and ensure you are following compliance regulations. Also, included in Grant Management are validations that can be turned on to ensure you are not exceeding your grant revenue and staying within the grant lifecycle.
Encumbrance Management allows you to reserve funds from a budget. It considers your actual available funds and the amount you wish to purchase to determine if it is within budget therefore protecting you from overspending and exceeding your limit.
Interfund management is another beneficial feature of Dynamics GP that allows you to reconcile and track transactions that would cross funds or grants. Due To Due From transactions are automatically created to help you keep your funds in balance.
Control Account Management allows you to transfer control account balances to other departments or specific areas of your business/organization. It allows you to use a centralized AP environment and then distribute it into a departmentalized fashion for reporting purposes.
These components of Dynamics GP along with standard accounting functionality like General Ledger, Accounts Payable and Receivable, Bank Reconciliation and Fixed Assets combine to make a powerful ERP tool for the not-for-profit sector. To learn more or get started, please contact us or call 610-940-9840.