See how Sage Intacct addresses some of the tough challenges faced by YMCAs.
If there’s one thing we know, it’s how important your mission at the YMCA is to you. It’s all about strengthening communities, helping people of all ages thrive, and ensuring that everyone gets a fair chance at leading a healthy, fulfilling life. But let’s be honest, it takes hard, unglamorous work to keep that mission alive.
Everything going on behind the scenes, especially accounting, needs to run smoothly. Which is why your software shouldn’t make things more complicated. It’s 2024; there should be a better way —and there is!
Keep reading to see how Sage Intacct addresses some of the tough challenges that a lot of YMCAs run into.
Challenges to Nonprofit Accounting at the YMCA
So, Sage Intacct is the “how” for the Y, but why is that?
The truth is that your current accounting software could be limiting your organization. Consider these major challenges that you might be experiencing:
- With the Y’s extensive programs and activities, along with the huge national presence, consolidating key data and creating financial reports is a massive undertaking. Reporting can be complex and time-consuming, especially when relying on manual work.
Solution? With Sage Intacct, you have push-button consolidations that can combine transactions, create reports, and search for discrepancies in minutes, giving you true, real-time visibility.
- Accuracy can be a real issue (and it can really cost you…). Whether it be from recording a journal entry incorrectly, entering a duplicate transaction, or a reconciliation error. We are human and prone to making mistakes, but a single accounting error can be detrimental to both your reputation and the financial health of the YMCA.
Solution? You can be confident that your reports are accurate by automating critical processes with Sage Intacct, so your financial data is always timely, compliant, and reliable.
- Affecting everything from membership registrations and renewals to donor management and even payroll, inefficient or complex workflows slow down your success. We can’t stress the importance of efficient systems enough.
Solution? If you could reduce the administrative burden and tedious nature of manual data systems, wouldn’t you? With the right accounting software for your YMCA, more resources can be channeled into community services and your nonprofit programs.
- Effectively measuring outcomes can be difficult without the right accounting tools. You may struggle to understand the numbers behind your successes, making evidence-based decisions near impossible.
- Solution? Automating your financials and reducing the reliance on spreadsheets and paperwork, Sage Intacct significantly increases operational efficiency, allowing your YMCA staff to focus on more important objectives.
Real World Success with Sage for the YMCA of Monroe County
The YMCA of Monroe County made a significant change to future-proof their organization by transitioning from Sage 100 to Sage Intacct. This change was driven by the need to accommodate new IRS requirements that their previous software could not support. After fulfilling the reporting and compliance requirements by hand, they knew it was time for a change.
Automated and paperless workflows with faster reporting capabilities were at the top of their goals for the migration, and Sage Intacct delivered. Shannon Kane, the organization’s CFO, noted “It’s not an exaggeration to say that we accelerated 10 years in 12 months. All our goals were achieved within that time period.”
Addressing the Needs of YMCAs Everywhere
Addressing the needs and challenges of nonprofit accounting at the Y requires more than just streamlining internal processes. It’s just as important to be able to maximize the YMCA’s impact (in a quantifiable way), ensuring sustainable growth and improving donor engagement while furthering your goals to strengthen the foundation of our local communities.
Take a look at what Sage Intacct has to offer YMCA organizations and other human services organizations that help to do just that:
- Financial Visibility and Transparency
- Nonprofit Fund Accounting
- Intelligent Multi-Entity Management
- Detailed Forecasting and Budgeting
- Compliance and Reporting
- Managing Subscription Billing Lifecycles
- Expense Management
- Streamlined Revenue Recognition
- Grant Tracking and Billing
- AI-Powered Time Tracking
Best Practices for Best-in-Class Reporting at the Y
Simplifying your accounting with Sage Intacct means you’re left with more resources, more time, and more energy to devote to what truly matters.
Here are some of our tips for better reporting with Sage Intacct:
- Save time and strengthen the integrity of your reporting. With Sage Intacct, you can easily connect other systems such as payroll, donor and grant management, fundraising, and budget planning all into one singular, easy-to-use reporting system.
- Create custom reporting dashboards for your team. That way your organizational leaders at the Y can quickly see your KPIs at a glance, or drill down into the real-time numbers and individual performance and funding metrics.
- Use a multi-dimensional chart of accounts for faster, more meaningful reporting. Detailed dimensions let you easily filter your data later on to track or calculate specific expenses or funding metrics. This gives better financial visibility and operational context to keep you on mission.
Y-M-C-Accounting Excellence with DWD Technology
Are you ready to take the next step towards a better financial future? Get ready to strengthen both your community and funding, all while empowering your own people with modern, cloud accounting software that grows with your organization.
With our free Software Needs Assessment, we will help pinpoint your needs and discover the ideal solution. Contact us today to let our experts guide you, and see if Sage Intacct is the right choice for upgrading your YMCA’s accounting solution.
Taking the Next Step
When you are ready to take the next step and need a partner to provide trusted advisory, DWD is here to help. Contact us today to discuss your Sage 100 to Sage Intacct migration project.