On March 25, Kathy Brand, Jim, Snider, and Jonette Mathews of RubinBrown provided the nfpFMA members with much information related to accounting software. Here are some accounting software industry trends they addressed: Web-based software, Improved financial reporting capabilities, HR module additions, and Industry consolidation.
They also discussed useful ways to compare software programs. These included drawing up a needs analysis, evaluating the needs, deciding if a fund accounting software program is necessary, and then searching for and evaluating software programs. Some evaluation criteria are Features & Functionality, Price vs. Overall Cost, Installation, Software Set-up, and the Stability of the software firm offering the software.
Kathy, Jim and Jonette then discussed troubleshooting the software conversion process. Jim recommended we evaluate the chart of accounts and how each segment influences financial reporting capability. He also recommended cleaning up data and getting accounts in balance prior to import, and then checking that all the data did indeed import properly. Finally, the RubinBrown team suggested drawing up a project plan to better manage the entire accounting software conversion process.
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NEW SLPL website/NEW SLPL catalog/NEW GFC blog!
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