Justifying the price tag on nonprofit accounting software probably isn’t easy for you as a board member. Because financial resources are often tight, your focus might be to spend money on advancing your organization’s mission and not on its accounting needs. Besides, accounting software is often free, so why spend money you don’t have to, right?
While the price might be difficult to overlook, a good accounting software can arm your organization head to toe with better security, reporting, and fund management. Without it, you’re leaving your financials susceptible to error and errors aren’t easily overlooked by those funding your nonprofit.
As a board member, you have an important role guiding your organization, but you might not be aware of the unique problems nonprofits face when it comes to accounting. Setting your nonprofit up for success begins with properly maintaining the finances, so here are a few reasons why nonprofit accounting software is so important.