IMPORTANCE OF USING ACCOUNTING SOFTWARE WITH MIP FUND ACCOUNTING

When it comes to Non-profit organizations, it is important for the accounts to be managed meticulously since the disbursement of funds is what determines if the NGO will still be able to receive funds. Sometimes it is easy for NGOs to miss out on particular details in the accounting system because of staff negligence or simple forgetfulness that could be quite costly. To avoid this, you need a system from mip fund accounting to ensure that all your transactions are well documented.

Always ready for audits

Since the funds received by NGOs are very specific and need to be used in a particular way, donors could request for an audit at any moment to ensure that there is no leakage in the system. The use of the mip fund accounting software ensures that should an audit be carried out impromptu, you will be able to get the all clear since all the information will be captured in the data base.

No backlog

Accounting can be a little messy if it is left for later. It is impossible to remember every detail of a transaction if you have too many on the same day or week, depending on how long you take to update the system. The mip fund accounting software does not take too much time. All you need is enough time to key in the figures and the system does the rest for you. You will always have the current figures once you are done feeding in the information.

Delegate work to employees

This system is easy to use. One does not need an accounting background to manage it. Therefore, any employee that can be trusted can handle the system. This not only means the office can run efficiently in your absence, your employees will also learn how to use the system and even develop an interest in accounting.

Accessibility on other devices

You do not need to be in the office to be able to use this software. The mip fund accounting system can easily be linked to your mobile device so you can check the transactions wherever you are.

 

 

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