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Modern invoice design for NPOs

all right thank you everyone again for joining jmt consulting for our webinar today over audit ready financials and sage intact my name is megan madila and i am a regional marketing coordinator here at jmt we're very happy to have our very own market brazier on the call to lead us in our webinar today mark is a sales engineer here at jmt and he's going to show us some really amazing features of stage intact here in a moment i do want to let everyone know that this webinar is sponsored by jmt consulting we are an erp and financial management solutions consulting firm with 28 years of experience specializing in nonprofits we work with a wide variety of software partners to find the best solution for your nonprofit i'd also like to share a few housekeeping notes with you all before we get started if you do have any questions during the webinar today please go ahead and submit those into the question and answer portion on your control panel we're going to go ahead and save all of those questions until the end of the webinar but don't hesitate to go ahead and submit those as you think of them also today's webinar recording and slides will be emailed to you within 24 hours following the conclusion of today's webinar and with that i'll go ahead and turn it over to you mark to get us started all right thank you megan thank you for joining us today i know everyone is busy everybody's time is very very uh valuable and so we want to jump right in uh at jmt we have we deal with all sizes of nonprofits i've dealt with nonprofits anywhere from small ones to from four to five million dollars in revenues to over 150 million dollars in revenues and so one of the things about intact and we're going to show you today is is that for the small uh smaller organization uh it gives you the robust software to do what needs to be done and do not have to to compromise to have second best intact is the best in class and software for the larger organization it has the ability to expand to wherever you're going and so i hope that you'll see that today before we get into the actual reporting i want to kind of identify with you a little bit your everyday mission is to prepare the information so that dollars can be spent the most efficiently in your organization your c ceo or executive director is looking down on you and saying how's this money being spent how is it being spent effectively and efficiently and that is your job to make sure that they can do that and that's really as cfos and being a former cfo that that's what makes us tick to be able to show that information in addition to that is preparing reports reports of all kinds but one of the most critical i know is reports for donors so that they see that the funds are being spent wisely and so that the funds continue to come in and so you have those kind of things going on that are exciting for you and things that make make your day meaningful and then you have the audit and so that the audit pulls us away from doing what we want to do and why we want to do it and it comes along once a year i know in in cfo work in previous years my kids would ask me say dad what'd you do at work today and i would say something about the audit and they would say well i thought you did that last week and then so sometimes these audits are not only a few days but a few weeks and sometimes even a few months and so they seem to grind on and so my hope today is is that we look at some of the reporting that we can help you streamline some of this and so that you are preparing reports and getting ready for the audit all year long and so that you're ready to go so let's jump right in i'm gonna show you some screenshots to begin and then we'll look at the software itself first of all the first screen i have is a document that i'm sure all of you are familiar with the fasbia accounting standards update and in the fasb accounting status standards update uh you're going to see the various reports that this that are required of you and so if we go through these uh today good things progress here one of the things that comes up is the statement of financial position out of this bulletin uh you can see the the crossed out pieces from the fasb document and the changes that are made and the changes that were made and i know you're familiar with these someone spend a lot of time but we can see that they change things from the permanent temporary uh restricted and unrestricted to such things as with and without donor restrictions and so one of the pieces of a puzzle when you're looking at software is is this software going to be able to adjust as i need it to as the regulations change as they no doubt will going down the road and so you have your statement of financial position you have your statement of activities and all of a sudden we've gone from again the with and without donor restrictions the various columns the totals and so the ability to create this within the system every single day i talked to cfos and controllers from various organizations and almost every single day when i talk to them about their current software they immediately say well i just dump all my information out into excel and then i create the report that needs to be reported be created our goal for you is to do those things within intact it is this the software is not just for gathering the data and then having to put it into some other format to be able to report on it and to be able to manipulate it to get the information out of it you want but to do it within the software itself and so one of the major goals and if i had the opportunity to sit down with you in a demo personally or an alignment call my conversation will be with you is what are those processes that you're doing outside your software that we need to move into the software so it becomes a part of your everyday process rather than having to spend hours and hours manipulating excel spreadsheet we all that are in the financial business enjoy excel enjoy all the amazing things that it can do but your greatest value to your organization as you know is not to manipulate excel spreadsheets we can find other people to do that your greatest value to your organization is to be able to analyze that data and so if we can get it to the reporting level the quickest way to do that the most efficient way to do that allows you to do uh what you really uh were trained to do and would like to do so you have your statement uh financial position your statement of activities here also is the form 990 from uh part nine of the form 990 of your irs form and so these are reports that are required of you around audit time and so we want to take a look and see what what intact can do to help you create those so going back here's the statement of activities i showed you in the beginning you can see it there and right beside it i want to show you the intact so this report right here is pulled and i'll show you the actual report here in a few moments but this is this is a screenshot straight from the software and as you can see it lines up and it does exactly like what is required of you for your statement of activities uh come audit time everything is lined up without donald restriction with donor restriction your gl accounts down the left side your beginning assets beginning your assets at the end of the year uh under restrictions without restrictions and then all those combined so it lines up perfectly it allows you save a lot of time and and not taking data and moving into excel and then creating this the reports that you need here is the financial position form or format and here's your statement of financial position within intact have the same type of thing we have uh the previous year uh over the current year current year i'm using demo data so it's a couple years old the 2018 data is the current year for for this pixlr demo previous year 2017 with and without donor restrictions just as the uh the regs call for and so everything is lined up immediately and you set those up and so we'll dive into it just a little bit further as we go further along and then your form 990 part nine there is there is that report and as you can see we have our regular uh gl accounts down the side and then we have your ending to your total expenses straight from column a column b program services column c management in general column d your fundraising lined up exactly as it is and so if when you're working with your auditor the ability for your software to do this is going to save them time and when it saves them time it makes it makes it easier for you as well and so my encouragement to you is to see what intact can do with those so let's let's take a moment here and let's jump into the software and see if i can't show you some of the things uh that the software itself can do so we go to go to reports module the software and here's the all reports and what i want to start with here is just giving you a glimpse and we're going to go back to those three reports here in just a moment but there are other things along the way that i want to share with you to kind of give you a glimpse and wet your appetite for it as you can see some of these have been edited and created but as you go down through this list from the report center you see a number of reports you see 990s you see a statement of activities you see financial position you see investment footnotes you see a variety of things you you'll see regular budget reports and so on and so forth out of the box intact provides for you uh over 25 different reports and these 25 different reports are the beginning stages for you to create reports with for your organization there is there is no need within the reporting system of intact to be able to use code or start from scratch but you start from these basic reports that are already created for you and you begin to build up on those things as as you go along and if you'll notice down through here as you go along and you create reports there's two ways that i do this to find the specific reports that i'm looking for and i want to use time and again because of all the other ones that already there is i put them in put them in an order where they'll line up immediately or you can mark them as a favorite and once you mark them as a favorite when you come into the report center as it did when i opened up this it goes automatically to your favorite reports and so i put into this for us today the favorites and into the favorites just these three particular reports that we have looked at and looking at today and so as you look at this report if we if we go to this particular report this is uh what we found uh that i showed you from the the slides a moment ago you see it's pretty cut and dried it's very simple it's very compact so if i go back to that report and i want to create it it's going to give me the opportunity to do that i can i can narrow it down by department or entity of course we want the whole organization for our purposes today and there we are at that report but as we go into that report uh we excuse me the auditor comes along and says well i need to see into the detail and obviously looking to pull random invoices and random contributions and and those sort of things to be able to audit so the the report center allows you to drive and dive into those rather easily so let's say he or she tells you and says let's look into your contributions they go into your contributions and you drill down into it and you've got all these entries of contributions throughout the year well let's say he wants to look further at the 29 000 contribution that was posted on on january 1st 2018 and there you have you've drilled all the way down to the actual transaction level for the auditor not only have you drilled down to then there's that 29 thousand dollar entry that we talked about earlier not only have you drilled down into the actual entry but you also have the attachment that that gives the documentation that is needed to support that particular entry it's right there it's always there it's it's prepared for you and allows you to provide that information to the auditor or and there may not be many of us cfos that are wanting to do this but there seems to be more and more as we we we live more and more of a day of rather than doing this thing once a year but doing it on an ongoing basis so come the end of your fiscal year it is not a a major action but a continuation of what's been going on giving auditor access for a short period of time or whatever period of time you would like to a read-only access and access to only what you want within the within the system maybe just within the the uh reports themselves and that way they're able to dive down find the information they want find the documentation that they want and support the the entries that you have made so that is one way that the the report center makes things quite easy for us in uh in intact so let's back up and let's look at the financial position uh report that we looked at a moment ago so here's the report and as we look down through here again it may be that we want to look further into the report and as i showed you already you can expand anytime you have uh the triangle that is turned to the side or the area where you have blue letters you can expand that area or dive into the area the reason these are not lit up at this point into blue is because there are additional categories underneath those uh and so there there allowed it to do it and allows you to dig further into it but here we are in our short-term liabilities and so there's two ways to be able to expand these so maybe you start your general report and you have it hold up tight like this or maybe you expand it just a little bit and have your short term and your long term tied up like that but let's say you wanted and you can easily open that up and go down into it but there's another way to do that as well to make it something that you do where it automatically comes back to you the way that it wants to and we do that in our rows if you notice here in the short-term liabilities it was just showing this summary i'm showing this to you i know this is a lot of detail but i'm showing this to you today to show you how simple it is to expand these various pieces so it is as simple as that and all of these and we could pull those into detail if we wanted to but it was simply as opening that up from the plus to the minus and all of a sudden you've got all these available to you now when we go to the report the short term liabilities are all pulled open and so there are two ways to do it within the report itself to see a summary and then expand the summary or in the actual building of the report you're able to do that as you look at the different rows and and create that and so uh it is very flexible i have made the comment many times if you've been in a a personal demo with me i've made the comment uh on many times that uh the reporting system within intact has i know it's not infinite because i know infinite is awful it's an awful large number but it but it is almost infinite in the different uh possibilities of what you can do with your reporting system it is only limited by your number of accounts your number of dimensions departments etc that you might have because it is so flexible and not only is it flexible but it has the ability to do that without going into coding without going into building from scratch i am convinced that after just a few short times of taking one of the the the pre-built program or reports that are in the system that you can take your reports and you can begin to tweak them the way you want to edit them the way you want and then save them and once you save them you can go back to them time and time again or even even have the opportunity to have them automatically send those reports to you by email on a periodic basis as you choose so let's go back and look at the 990. as you look at the 990 again it's a basic traditional report you have the gl accounts down the left column and then across the top what we have are are the categories that were set up that are dictated to us by 9.90 the total expenses programs program services management in general and and fundraising so the the big question is is how difficult is it to get these into the categories so that it looks like this so it matches the 990 that i'm going to have to create or that my auditor is going to have create someone's going to have to create to put into the 990 form well the way that that is done is through departments and so if we go back and look at the 990 report we go back into the edit of it and we go into the columns it's showing you the other direction we've got the the regular gl column here and then we have total expenses program services management general and fundraising if we dive into that just a little bit what we see is is that the way that is done is through departments and through department through through the the dimension that is called departments uh some software are going to use the term if you're here with mip been using mip they may use the term segment but it's all part of the chart of accounts the dimensions and so we create dimension groups in this particular one is called program services and in program services we've put the all the departments that need to go into that and so you can see here we have program services there we have management in general we have fundraising of course we do not have any here because we've got the total expenses there we've titled it what we wanted to do it is that simple the issue of changing the years the issue of going doing future years uh in forecasting if you have a budget the the ability to do past years and do prior years or prior multiple years to take this information whichever direction that you need to take it is available to you we have these particular departments now let's go into the departments themselves and let me show you i think it's this one here how we have set that up pretty simple um scheme here but we we what we have done we have set up our departments under the three areas that the 990 requires you have your fundraising nothing else under that but under management in general we have the various departments that may be under management in general and then under program services we have the various departments and so these are these are the parents program services is apparent to these particular departments and so therefore when we go to the report and get back to the right report when we go to the report we're able to pull these particular groups that are set up and that is set up as department services or program services the department hierarchy allows us to do that so at the end of the day in the business office no one knows the amount of detail that goes in to any of these numbers ceos executive directors board members donors different ones look at these reports and say oh the numbers are such and such at the end of the day no one knows all the work and detail that you and your staff do to make sure that the the detail is there so the presentations such this can be accurate and be effective in intact you have the ability to create those reports simply it is it is um it is a very big disappointment in the financial office when all the work has been done all the detail has been done and then you have the inability to report it out to those who need to know it and those who need to see it need to work with it need to make decisions based on it do not have that available to them intact allows you to do that i megan did not go into detail my bio as i mentioned i was a former cfo of a private college and we were originally when i came to the college we were in mip mip was a good software it did great things for us but over the last few years i was there i began to see the change and we had mip on our local servers within the within the school we began to see the need for change to go to the cloud the need to change for a variety of reasons one was security and the ability to know that our data was good and that if our servers failed that that they were that that they were taken care of in the cloud and and the changes that were made as far as the what we've talked about today with the various reports and so we made the transition ourselves from mip to intact and by doing that we opened up all kinds of doors and abilities for us in management of making strategic decisions for the future but not only making the strategic decisions for the future in operations but also presenting to our donors the information that was needed to show them that we were we were being wise stewards of the the funds that they had given us to carry out our mission that they wanted us to carry out that is the purpose of accounting to get us to that point to be able to do that so we can keep the mission going i know when we look at the operations of a of your particular organization that oftentimes the back office the financial office is overlooked without good reporting like this the rest of things begin to fall down and so intact gives you the opportunity to do that and i encourage you to look further at it and see what it can do for you all right megan if we have questions i'll take those yeah thanks mark it looks like we do have a couple questions so far um the first one is is the drill down available on all reports or just some reports the software that the software that i use doesn't allow virtualtown on some formats of the statement of activities such as the periodic style and combining style of reports most all the reports any of the reports that any any statement of activity reports it's going to do most all of them will do there there are a few that it does not allow but it's really it's on the fringes and it really gets into some of the very very um customized reports that you might do um and and so i i would say 99 of reports that you're going to use on a day by day basis uh maybe 100 of the reports you're going to use on a day-to-day basis it's going to be there for you the drill down is is very much part of that's a part of the ability of a native cloud software is that ability to drill and as you saw on my screen these different windows just popped up the ability to just go into these different windows and to drill down makes that available to you and so it's almost it's not 100 but it's almost 100 great thank you mark and then the other question that we had had come in is where can i find the standard reports i don't see anywhere in my version that there is a standard list i should be under report center i believe is where it is it's been a while since this demo was completely new but i think it's in report center um uh our professional our uh support can help you find that but i'm pretty sure it's in reports sooner that's where it is here i'm pretty sure that's where it is all from out of the box great and that's all the questions that we had so far and just a reminder to everyone if you did have a question over anything that mark covered today you can submit those questions into the question and answer center on your part of your control panel and we'll get those answered right away and while we wait for any more of those questions to come in i'll just expand upon what the follow-up process will look like after the webinar today so i will be reaching out to everyone through a phone call following the webinar just for a more personalized discussion over your organization's needs related to your financial back office to see if intact would be a good fit for your organization and from there we can move into a more formal assessment and evaluation so everyone just be looking out for that phone call from me starting tomorrow and i'm looking forward to connecting with you all i think we did have another question come in just now mark um it asks how do you attach the source documents into the document it's a simple click and drag um if i can go back to report [Music] yeah it's a simple click and drag i'm i'm not going to find what i'm looking for immediately here so i'm not going to spend much time on it let me go back to that one that we had open yeah and so that that was so the the the document has to be saved on your computer and uh but then once it's saved on your computer out of your your file manager you can just simply click and drag it over and you can only click that uh and this one only i showed showed one attachment but as you can see with this there's multiple transaction within this one journal entry and so you can have multiple attachments i don't think there's a limit on how many you can have there and so it can it's a click and drag and you can do multiple attachments it's a real simple it it takes us closer we all used to think years ago we hear old enough to remember to think that we were told we would we would do away with paper i don't know we're ever going to do away with paper but it's one more step closer to that where you can take a a invoice click and grab with whether if you receive it digitally obviously you can click and drag it into the transaction uh if you receive paper you can scan it into your computer click and drag it in and do away with the paper and then it's where it needs to be at the right time that you need it rather than looking for through another file great thanks mark and that's all the questions that we had uh oh wait we just had another question come in it's just a follow-up to the previous question says can you add the documents later yes you can so i've clicked edit here on that particular transaction and i did not have a file open but i can just click another one and drag it right into that and put it later great all right it looks like that that's all the questions now we'll see if any last minute questions come in but just a reminder if you have a question that you aren't able to ask on the webinar day or you think of later on after the webinars ended don't worry about that you can ask that during the follow-up and we'll get that answered for you then as well and so before we close out today i did want to let everyone know that we have another webinar coming up on october 27th over finance and board ready reports at your fingertips we definitely recommend getting signed up for that one as well it is free like all our webinars are and you can register on our website at jmtconsulting.com and looks like there are no more questions and that's all i have today so before we close out mark do you have any closing words for everyone no i would just simply say if you do have questions do not hesitate to reach out to us jmt this wasn't talked about much in the beginning i didn't say much about it we are not a publisher of software we are a consulting firm that helps connect you to the best software and we think intact right now for not-for-profits is the is the best software available and so we want to help you our our goal is to help you reach your mission that's what we want to do so any way we can help please let us know great thank you so much mark and thank you everyone today for your time and joining us we appreciate you all and we hope that you all have a great rest of the day bye everyone