Shift From ACS to Intacct Streamlines Fund Accounting and Activity-Based Budgeting
SAN JOSE, CA–(Marketwire – August 2, 2010) – Intacct, the leader in cloud financial management and accounting applications, today announced that Grace Fellowship Church has replaced its ACS church management system with Intacct. Grace chose Intacct to fulfill its need for a cost-effective financial management system that would streamline fund accounting and activity-based budgeting, as well as offer church management and other stake-holders real-time visibility into its financial performance.
Grace Fellowship Church was founded 30 years ago by four couples dreaming of a new kind of church. Over the years, Grace has grown significantly into a multi-campus church serving areas in Maryland and Pennsylvania. Grace had been using ACS Financial Suite, an on-premises church financial management solution. As the church expanded, it began looking for new financial applications that would be less cumbersome to host and maintain.
“As a not-for-profit organization, we don’t have the luxury of a large IT budget and needed to find a financial system that would eliminate the need to manage and maintain software on site,” said Stacie Porter, Director of Finance, Grace Fellowship Church. ”We loved the idea of cloud computing and evaluated both NetSuite and Intacct as a replacement for ACS. We found Intacct to be superior for its depth of functionality, support for fund accounting, and overall flexibility and automation capabilities.”
Intacct offers not-for-profit and faith-based organizations an ideal financial system to effectively plan and budget, manage spending, and report and analyze their financial information. For Grace Fellowship Church, two key areas of importance in their new financial system were fund accounting and activity-based budgeting. Intacct helps Grace in these areas by allowing them to code every expense to specific fund and project codes. This improves stewardship of church funds by enabling them to more easily track, manage and report on finances associated with their various sources and uses of funds.
Intacct also helps Grace to increase operational efficiencies by eliminating manual processes with automated workflows. For example, Intacct’s flexible workflow and automation capabilities allow Grace to set up recurring journal entries that save a significant amount of time that used to be spent on manually duplicating those journal entries.
Another area of benefit for Grace has been the ability to gain real-time financial and operational insight into the performance of their organization with the wide variety of pre-built and customizable dashboards, reports and analytics in Intacct. This has been particularly important for church directors — enabling them to log-in to Intacct to view a complete picture of church finances, without the need to have someone in finance run a report or track down information for them. Intacct dashboards can be easily customized to the specific needs of each user and allow for drill-down into the underlying data to gain additional insight into the information. Having this level of access to real-time financial information enables the church to more closely track actual to budget performance, as well as make more-informed and timely decisions.
“With our previous system, it was tough to get an accurate look at our current financial picture. Our church directors would get a financial update each month, but it usually wasn’t until a good two weeks after each monthly close cycle,” commented Porter. ”With Intacct, we now have a modern system that provides all the real-time financial information we need at our fingertips. We’ve been very pleased with our decision to move to Intacct and feel it is a system that is well suited to meet our needs as we continue to grow and expand our reach in the community.”
Hundreds of not-for-profit and faith-based organizations like Grace Fellowship Church are using Intacct to save money, improve financial operations and focus on their mission by moving their financial systems to the cloud. For more information on how Intacct helps not-for-profit organizations, please visit http://us.intacct.com/solutions/not_for_profit.php.
Intacct is the market and technology leader in web-based financial management and accounting applications for businesses and CPA firms. Bringing cloud computing to finance and accounting, Intacct’s award-winning applications are the preferred financial applications for AICPA business solutions. Intacct applications are used by thousands of businesses from startups to public companies and are designed to improve company performance and make finance more productive. The Intacct system includes accounting, contract management, revenue recognition, inventory, purchasing, vendor management, financial consolidation and financial reporting applications, all delivered over the Internet via cloud computing.
Intacct is headquartered in San Jose, California. For more information, please visit www.intacct.com or call 877-437-7765.
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