Give your accounting staff the ability to:
- Select a Cash or Accrual method in setup to determine how invoice amounts are reflected in General Ledger module.
- Reduce payment processing time by interfacing with the ACS General Ledger module with automated entries.
- Ensure prompt bill payments. Memorized invoices can be scheduled to become due on specific dates.
- Process regular, recurring, or one-time invoices.
- Raise the level of accounting accuracy.
- Print multiple reports at any time, showing the status of payables and payable cash requirements.
- Print checks at any time, and handle the issuing or voiding of system-issued or manually-written checks.
- Print 1099 forms.
- Print checks automatically by due date.
- Provides a method for suspending or forcing the payment of any invoice, regardless of due date.
- Each vendor can be configured to receive payment by check, online, or ACH (direct deposit).
- Quickly file state and federal tax forms online with ACS Tax E-File, an optional service available within your ACS software.
ACS Financials or Quickbooks?
Churches often wonder, “Should we use church software that has accounting built in, or should we use a separate program like QuickBooks?”
James B. Jordan is a CPA that has audited over 200 churches of various denominations. He is considered to be an expert in the field of Financial Management for Churches. Here are some of his thoughts about what to consider when making this decision.
Was the software designed for Churches?
ACS Financials was built specifically for churches’, with the churches needs in mind. Although QuickBooks is a good accounting system, it was not designed for churches.
Does your software integrate?
Having an accounting module that integrates with your church management software is essential for many churches. ACS Financials integrates with the Contributions module and with HeadMaster billing. QuickBooks does not integrate with any membership database that we are aware of.
What kind of support is available?
ACS offers a live support person to speak with during our Support hours.
What should I know about reporting options?
The reporting in ACS is more detailed than in QuickBooks. There are many standard reports in ACS, and lots of flexibility to customize the reports to meet your needs. QuickBooks has limitations with its reporting capabilities.
There are also guidelines for reporting that are required for non-profits. The standard advises that all non-profits must be able to produce a balance sheet by fund and other financial statements. Although QuickBooks provides you with a procedure for determining your fund balances, it cannot give you a Statement of Financial Position (balance sheet) by fund/class report.
Does the software provide an audit trail?
ACS has controls in place that cannot be altered. If you post an expense to the wrong account, a journal entry is required to fix it, thereby creating an audit trail. In QuickBooks you have the ability to turn this feature off, opening up your institution to fraud.
For more valuable financial advice from James B. Jordan check out his book, Financial Management for Episcopal Churches, a great resource for any church explaining leadership and roles, as well as internal controls and processes.