Accounting software does not only work for profit-based applications. Some are designed exclusively for non-profit applications. Organizations or foundations that do not run business to earn money, but instead receive donations and gifts from external sources not aligned with specific internal sources are among those that need this type of software. Similarly, non-profit accounting software aid in paying bills, managing accounting receivables and payables, and the likes.
A thin line of difference can be seen lying between for- and non-profit accounting software. That is, in non-profit accounting, more information is required to be inputted to be accounted by the system. While funds come from unknown sources, unlike in business where it is accounted as either equivalent to the production rate, an extra level of accounting is needed. Besides, funds can come in different values at irregular intervals.
Non-profit software usually offer grant modules that can run grants in conjunction with general ledger, a fixer dimension. In other words, the accounting software should be flexible enough to integrate grant revenues with expenses. Sometimes, they are run in a different time line through a separate module. Advanced accounting software like Peachtree Quantum 2011 can serve the complex needs of non-profit accounting applications.
The features of accounting software such as Peachtree Quantum 2012 should provide efficient customer service for non-profit groups.
Like any other software, non-profit accounting software should be equipped with advance security features. Information should be kept safe, and use of data must be restricted to only a few people. Advanced software like Peachtree Quantum 2012 minimizes the disaster caused by loss of data or leak of donors’ confidential information. Destruction in the reputation of the non-profit organization is a loss of revenues that can totally shut down the operation.
Software like Peachtree Quantum 2012 are sophisticated and need months of training for traditional accountants who are used to paper-based system to learn and use excellently. It should be a primordial concern of the non-profit to engage all workers of the system in training.