Fiscal compliance software assists your team with tracking of restricted funds, cost allocation, organizing supporting documentation so you can maintain compliance with Government and Private Funders. Accounting systems do a great job with tasks such as bank reconciliation, managing payables and receivables, standard P&L and Balance Sheet reports. However, nonprofit accounting and compliance requires an extra-layer of fund tracking and management.
The process starts with conducting an in-depth analysis of your nonprofit's mission, functional requirements, and budget. Compare several options while taking demos. Click here to sign up for a free PreciseGrant demo.
Fiscal compliance is crucial to ensure you maintain your 501C3 status and allows for the smooth provision of funds once you've won a grant. Also, it helps you safeguard the nonprofit's assets and avoid issues such as misappropriation of funds. PreciseGrants streamlines the fiscal compliance process and makes task like grant reporting and budget management simple.