Making accounting easier for not-for-profits
Doing the books when you’re a not-for-profit is no walk in the park. Fundraising is hard enough, as is managing tight resources. Often you’re reliant on busy volunteers without a background in finance to get the job done.
Xero is becoming popular with not-for-profits and it’s easy to see why. As fewer people have the time to volunteer, giving them the flexibility to run the accounts from the office, home or on the go, is essential. They can stay on top of cashflow and easily share the financials with the membership or board, which ensures transparency and trust.
New Zealand’s largest provider of services for under 5s, Plunket, is a not-for-profit that has set up its entire network – 400+ centres – on Xero. Watch this video to see how moving from a cumbersome paper and fax based system has made Plunket much more efficient and given head office greater visibility of the numbers.
Some of the advantages of using Xero if you’re a not-for-profit include the ability to produce streamlined reports – no more having to collate reports from numerous systems. Yah! Having an audit trail is also hugely important. Not only will this help detect fraud – which can sometimes be an issue in this sector – but it will clearly show how government and philanthropic funding has been used.
If you’d like to find how Xero works for not-for-profit organisations, you can find out more here.
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