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developed by Ioppolo and Associates

Essatto for Not-for-Profit businesses

We understand the unique challenges of running a Not For Profit business. Whilst not necessarily focused on the goal of achieving profits, the goal of Losses are not desirable either.

Specific needs of Not-For-Profits can include:

  • Compliance with statutory Reporting Requirements
  • Preparation of grant acquittal statements to various funding bodies that comply with the funding agreements entered into by the Not-for Profit.
  • The need to report across multiple entities.
  • Preparation of acquittal statements across multiple annual reporting periods 
  • Classification of transactions by claim and activity as required by the various funding bodies

The challenges of reporting to funding bodies are also well known to us. We understand that many funding bodies request reporting which doesn't adhere closely to accounting standards which makes things challenging when using financial systems as your source.

And given that the complexity of reporting is increasing every year and varies greatly between funding bodies, there are considerable pressure placed on NFP finance groups. The paradox is that NFPs are aiming to be more efficient so operating funds can be better directed to operations rather than business overhead and the complexity of reporting challenges this.

Essatto BIPM works very well to support efficiency and drive more positive outcomes for NFPs to resolve the challenges of operation. The application suite is very cost effective and provides very attractive Total Cost of Ownership considering the deliverables.

Key Benefits of Essatto for NFPs:

  • Automated reporting such as grant acquitals, funding body and statutory reports 
  • Essatto utilises existing infrastructure (no need to upgrade GLs etc)
  • Easy allowance for adjustments outside of GL
  • One secure source of data to reduce spreadsheet overload and error
  • Excel Add-in allows for ad hoc querying and custom reporting
  • Flexible reporting to templates or customised ad hoc
  • Actual and committed expenditure can be identified easily
  • Easy allocations by project, class, entity through to employee

Read more in our Essatto BIPM for Not for Profits document to learn about the many other benefits of Essatto to make your life easier.

Contact us to learn about how we are making life easier for NFPs with Essatto.