By Jon Griffin, Director of APL Financial
Having the right information in the right format at the right time is the key to making the right business decisions. XERO does this.
Why we Recommend Xero:
➢ Ease of use
➢ Better & faster information
➢ Better decision making
➢ More Value to Your Community
Server based/ PC based accounting software is now outdated. When upgrades are required your PC’s and servers may need to be upgraded and or reset which may require costly IT consultants to be involved. XERO Software will make your life easier.
Below are 5 reasons why cloud-based software products will ensure your organisation has the right information at the right time, helping you make better decisions:
Reason #1 ACCOUNTING SOFTWARE IS NOW AT A NEW LEVEL
➢ Bank transactions now automatically appear in your software – Reconciliation of accounts is easier with reduced keying errors.
➢ New features now available:
Fixed asset registers
Source documents attached to the accounting entry
No end of year rollovers, therefore information from past years transactions is always available
Reason #2 KEYING OF DATA AND ACCESSING REPORTS NO LONGER RESTRICTED TO THE OFFICE
Accessible on iPhone and smart phones and from any pc or tablet with internet access
Treasurers can now view, review and amend reports on line and committee members can have access to published reports on line
Reports with key performance indicators and data (which show the relationships between both financial and non-financial data) can now be automated
Print actual budget variance reports direct from Xero
Reason #3 DATA AND INFORMATION IS MORE SECURE
Two step mobile phone authentication makes the software and data more secure
No data or software sits on your server or PC therefore data cannot be lost when servers/PC crash or are hacked
Reason #4 THIRD PARTY ACCESS TO YOUR DATA WILL MAKE YOUR ORGANIZATION MORE PRODUCTIVE
External auditors can access the accounts from their office – for the first time providing real time/on time audit services.
Consultants can be given access to hop online and assist with training and resolving issues
Reason #5 SEAMLESS INTEGRATION WITH OTHER SOFTWARE
Hundreds of software companies have developed software products which integrate seamlessly with
Xero
SUMMARY OF BENEFITS
Xero will manage your expenses, employees, government tax reporting and financial statements. Once integrated, other software which is unique to your industry and requirements, will provide, automate and simplify tasks and activities.
With integration there is no need to re-enter data or reconcile similar reports produced by different systems. Integration instantly transfers data between systems eliminating the time consuming task of preparing, reconciling and keying of excel spreadsheets.
Xero software provides report summaries so you know exactly where your organization is at from a financial perspective.
To monitor and report on levels of actual activity and effectiveness of the organization in meeting its goals the cloud based Futrli software is recommended. Key performance indicators can be set on activity levels and reporting these activity levels in conjunction with financial information takes periodic reporting and monitoring to a new level.
Preparation of periodic financial working papers are integral to ensuring integrity of financials reports. Xero cloud based working papers are recommended.
Membership management software will simplify and automate membership tasks for staff, your members, volunteers and the board. Cloud based wild apricot software features include membership management, event registration, website builder, online payments, email and contact database. Perfect software for the small to medium size not for profit enterprises.
Management, scanning and saving of documents with systematic standardized procedures across the organization is crucial in a paperless office environment. Filecentre Pro helps businesses organise, edit, convert, OCR and find files easily and electronically.
PRICE
Moving to Xero cloud based software is likely to be cheaper than your current accounting software. Xero has a fixed monthly fee with no lock in contracts and there are no other fees such as storage, upgrade and/or down load fees.
Specialised management and information systems 5 to 7 years ago would have had an upfront cost of more than $20,000 and ongoing cost of $1,500pm.
Now the price for similar software will often start at approximately $25 pm with no lock in contracts. Most software now has a pricing structure with a series of reasonable step price increases based on the level of activity.
Choosing and Implementing the right software is critical to running a successful not for profit enterprise. APL Financial consults, trains and audits Not For Profit organisations to maximize their positive impact on their community, get in touch today to learn more about how we can help your organisation grow.
Set out below is a list of accounting software all not for profits should consider:
Xero www.xero.com
Key Performance Indicators and Periodic Committee Reports
Futrli www.futrli.com
Furtrli is the all in one forecasting & reporting tool. Perfect for forecasting cash flow, creating business plans and building KPI reports and dashboards. To further streamline and automate the periodic accounting function use Xero electronic cloud based working papers.
Membership Management for small to medium size not for profit enterprises.
Document Management made really easy.
Filecenter Pro www.lucion.com
Features include: document management software, document scanning software, file organization Software, paperless office software, PDF scanning software.
Electronic Financial Statements Working Papers.
Wild Apricot www.wildapricot.com Membership management, event management, website builder, email and contact database functions made easy.