Designed specifically for the NGO sector
NGOsoft provides you with a multi-currency accounting solution that is so simple to follow. It is designed specifically for the NGO sector therefore, every aspect of it pre-supposes same. It anticipates as much as possible the peculiarity of not-for-profit accounting as opposed to the ‘normal’ commercial enterprise accounting solution. Examples of peculiar solution:
a. NGOs offer their facilities to projects and need to recover cost of such provision: NGOsoft allows you to charge a project for the use of your vehicle, office rent, venue and other facilities.
b. Segregation of incomes in-line with charity SORPs. Restricted funds, Unrestricted Funds, endowment funds (permanent and expendable), etc.
c. Tax audit for NGOs mainly looks at your compliance with the withholding tax laws of your country. NGOsoft assists you to set the minimum amount for withholding taxes. Therefore, the system reports to you items you have withheld and paid and those you did not withhold for your own actions. NGOsoft provides you with a sample of the report you can present your tax authority if they indent to come and audit your organization.
d. Receive automatic email whenever it is recorded in the system that you signed a particular check.
e. On monthly basis, verify and confirm that you signed a list of cheques within that month.
f. When an account signatory going on vacation, they can lock up their name from being used as a signatory.
g. Consolidated ledgers in functional currency (Local Currency) as well as in forex account currencies.
h. Some donors require projects to report expenses according to thematic heading. A donor may require Conference and Training expenses to be sub-divided into feeding for participants, accommodation, transportation, venue and equipment hire, communications, fuels and lubricants, stationery and printing, etc. NGOsoft allows to decide when ledger heading to be added for sub-analysis.