Many businesses have funds that they use. Whether they need to keep them for employee benefits or for the investments of their clients, funds are the lifeblood of many groups. Microsoft Dynamics can help manage these various funds and keep them safe. We want to go over the benefits of using such a system for you today.
The first major benefit of using fund accounting software is that you can control the information in and about your funds. This means you can use Microsoft Dynamics to keep track of which clients have which funds and how each of them performs. It also helps you keep the information secure. No client wants to learn that you have let their information slip, much less an employee. These systems have a variety of ways through passwords and other means to secure the information. Of course a system is only as secure as those you trust with it so make sure to choose the managers wisely.
Fund accounting software such as some of the features in Microsoft Dynamics has another advantage; it has no emotions. There have been significant studies done showing that computers can actually make much wiser investments than the average human. This is because the human mind naturally gets caught up in investments it likes or dislikes. Not so for a system such as this. It can weigh each of the different options on a dollar-by-dollar basis. This can give you some exceptional results for your organization, nonprofit or business.
When dealing with nonprofits fund accounting takes on another life. Since nonprofits do not have to pay taxes on much of their income they need to take careful stock of how money was spent. Keeping track of how funding is spent is perhaps the most important part of both Microsoft Dynamics and fund accounting. You can easily tally up the amounts and see where every cent of your money is being spent. Excessive waste in spending is a major problem for any charity or nonprofit so this is a great help.
In the same way it helps you remove human error from record collecting. Your agents can easily gather all the information up and deposit in the framework. The system itself can also check to see if the current records match up to the old ones as well. This allows you to have redundancy in your record keeping. No system is perfect but by having multiple checks and balances you can get pretty close. ‘
Such a system can keep track of any type of fund. Do you have a big grant that you need to watch? It is right here. Is a foundation giving you regular money? Microsoft Dynamics can check on that. Do you want to know how your individual donators are doing? You can do that very easily as well. All of it can be done for you without much trouble once you get a system set up. Choose the right one for you and watch incomes soar.