In my experience, it seems many non-profit organizations employ differing systems for fundraising/donor management and accounting. This makes sense, as it is good business practice to utilize purpose-built systems to manage your organization. Often, the data is moved from the fundraising system to the accounting system manually. As you can imagine, or may even have experienced first-hand, this is very inefficient and can lead to mistakes and inaccuracy of data.
In a 2015 survey of non-profits, searching for new fundraising software, 57% said one of the key features in their decision-making process was an integration from their fundraising application to their accounting tools. This makes sense, as it will drive greater efficiency and accuracy for the movement of data between these applications.
At Peak Engagement, we hear you!! We are excited to announce the upcoming release of our pre-built integrations with two of the most popular accounting tools in the non-profit space – Microsoft Dynamics GP and QuickBooks Online. These two best-of-breed applications offer robust non-profit accounting capabilities for small to large non-profit organizations.
Both solutions can handle fund accounting and reporting, and Microsoft Dynamics GP goes deep with support for encumbrance and grant management.
The Peak NFP integration functions similarly for both accounting solutions. Transactional level detail about donors and donations are stored in Peak NFP. This includes data, such as the campaign, appeal, and fund, with which the gifts are associated and the amount of the gift, payment types, status, and more. These gifts are then batched for integration within Peak NFP and sent to the accounting software. Based on the fund selected on the gift, which matches a fund in the accounting software, the gifts are integrated to the general ledger as journal entries and associated with the correct funds and accounts in the accounting software. The gifts are then updated in Peak NFP with a pointer to the journal entry in which it is included.
This integration process allows the transactional details to be maintained in Peak NFP with the financial tracking being done in the accounting package, letting each tool work to its design. Our pre-built integrations will also serve as a starting point and be customized to fit each organization’s specific needs.
We are very excited about these integrations, and our roadmap includes other exciting integrations coming soon! For more information on Peak NFP and our financial management integrations, visit us at http://www.peakengagement.com/peak-nfp/.