The Holy Grail of Nonprofit Tips ✨
Get all of the information you need to efficiently manage your nonprofit with our monthly newsletter.

Say Hello! Discover Springly's New Accounting Suite

Dan

Accounting is the elephant in any room where nonprofit leaders gather. It’s complicated, time-consuming, and besides, it probably feels like there are a million and one other things you could be doing to further your mission other than manage your finances.

We hear you, which is why we did everything in our power to turn accounting from a chore into a hassle-free tool. 

After months of work, we are thrilled to present to you our brand new accounting feature. 

We know you have lots of questions: How does it work? Who is it for? Where can I find it? Why did it take you so long? 

Don’t worry, we will answer all your questions, but first, let’s start right from the beginning.  

springly-accounting-journey-through-time

A Brief Journey Through Time 

Where It All Began

Month after month, demo after demo, we were met with the same question. 

“... do you have an accounting feature?”

The truth is, this question stopped us in our tracks every time, mostly since the answer was “no”. Yet, it did get us thinking. It showed us that we had missed the mark somewhere in our 10 years of nonprofit alliance. A desperate need to incorporate nonprofit accounting with more traditional management topics had been unveiled, and we were absolutely going to act on it. 

So what did we do? Well, we didn’t rest on our laurels. Within hours of coming to this realization, the product team began racking their brains, leaning heavily on our nonprofit CPAs and maestro developers to come up with a potential solution. 

Operation Accounting was born!

Solution 1: QuickBooks

Operation Accounting soon became the talk of the office and our goal was clear: To provide an immediate solution to those who needed it while staying consistent with the big player in the accounting space, and so, we arrived at solution 1: A QuickBooks integration.

springly-accounting-quickbooks-integration

Intended as a readily available solution for our QuickBooks users who really needed one, the integration served its purpose and served it well. However, we knew this was not the end of our accounting journey.

Solution 2: Taking Matters Into Our Own Hands

With an intermediate solution in full swing and step 1 now complete, we could finally turn our attention to the real task at hand, something more grand and ambitious: Building an accounting service of our own. 

From the very start, we knew this was where we would end up. After all, the very essence of Springly is about providing nonprofits with all the tools they need to manage their organizations in one place

For all its sophisticated features and refined capabilities, we were well aware that QuickBooks was not the dream match-up for nonprofits, especially given their specific needs. As experts in the field, we recognized this and immediately saw it as an opportunity to lend a helping hand to our nonprofit partners. 

It was an ambitious undertaking, that was for sure. And we won’t lie, it was hard. But with an army of technical wizards behind us, their keyboards at the ready, we were confident that in reaching for the stars we could at least land on the moon. 

A few meetings and a dash of coding magic later, our brand new accounting suite is here.

springly-accounting-dashboardNow let us talk you through the features. 

springly-accounting-breakdown

Breakdown of the Accounting Suite

Given the complexity of accounting as a topic in itself, if we wanted to include everything our new accounting suite was capable of, we would probably need a separate blog and several hours of your time. So to make things simpler, we’ve broken it down into the 4 primary features.

Accounting Whatever Your Level 

At Springly, we believe that technology should be accessible to all, regardless of skill level, which is why we made our suite easy-to-use for every organization, no matter their level of accounting. 

1. Everyday Accounting

One way we have done this is by keeping everyday accounting simple with a straightforward expenses/revenue model, aimed at directly serving those smaller nonprofits with few revenue streams. 

2. Project Management With Cost Accounting

We also know that sometimes nonprofit’s need something a bit more sophisticated, particularly when it comes to managing their projects. With cost accounting, you can organize your finances according to your various projects. Create a budget for each, allocate income and expenses, and track, in real-time, the deficit or surplus you are working with. 

Having such clarity on the financial standing of your projects gives you a bird’s eye view of what is working and what is not. This 360 degree view ensures that you have all the tools needed to be successful in the management of your projects.

3. Sub-ledger Accounting

Your brand new accounting suite also allows you to monitor invoices from external accounts (i.e. those who are not in your community) with the use of sub-ledger accounting. This process gives you access to a streamlined way of monitoring payments from your suppliers and other third-party players. 

Automated Entries

Whether it be membership dues, donations, event tickets, or merchandise, all accounting entries are automatically generated and stored in your very own Springly “bank”, regardless if it is a single payment or a series of payments (by installment, for example). 

Automated Entries

That being said, we have left you full control to modify your accounting entries. If you see something that doesn’t look right, simply use our search function to hone in on the entry in question and modify it to your liking. 

Export All Data

No matter how proud we are of our accounting system, we understand that change is difficult for some, and for those people, we haven’t forgotten you!

All your data, such as sales and payment reports, can be exported in a familiar Excel format so that it can be integrated into your existing system.

Advanced Reporting

Ensuring our accounting system is suitable for both the newbie and expert accountant was an important part of keeping with the Springly ethos, so we thought it was only necessary to include one or two more advanced features, optional, of course. 

One prime example of this is a feature dedicated to recording and monetizing in-kind donations, a type of donation that is notoriously difficult to report on. In doing this, you are better positioned to file for grant applications, fundraising applications, and even your annual reports.

Accounting & Software: How All This Benefits You

To make sure our accounting feature serves you in the way it should, we spent countless hours conducting research. In gathering information from beta tests, surveys, and straight up hard data, we have put numbers to our claims, building a crystal clear picture of how our nonprofit partners are reaping the rewards.  

Here is what we found! 

First of all, 90% of nonprofit’s using accounting software are not practicing accountants and have no professional experience in this domain. This makes accounting a difficult topic for nonprofits to address (the elephant in the room, if you will) without any external help from an expert, which can come at a cost. 

springly-accounting-90%

This means that every aspect of the Springly accounting suite has been designed to keep things simple and user-friendly, hence why we made it accessible for every level.

By addressing accessibility, we found that our accounting service ends up saving nonprofits an average of 60 hours per year on their typical accounting tasks.

60 hours-1

Saving time and saving money often go hand-in-hand (after all, time is money) and here is no exception. In automating the bulk of your accounting tasks, you lighten your accountant/bookkeeper’s workload, allowing them to use their time more effectively and concentrate on more global, strategic tasks. 

For a full run-down of how to make the most out of your new accounting suite, sign up for an exclusive one-to-one demo with one of our accounting experts and get answers to all your questions.

springly-accounting-CTA

Springly-CTA banner accounting

Finance
Dan
Member Management

Everything You Need to Know Before Buying a Membership Database Software

15 min read
Trish
Finance

A Detailed Breakdown Of Nonprofit Accounting Basics

10 min read
Trish

How to Build the Perfect Nonprofit Board of Directors

5 min read
Danica