Accounting Software???

eheiding · #1 11-04-2007, 05:55 PM

Hi All,

I recently volunteered as the treasurer for my sorority's Housing Corporation Board. We have been using Microsoft Money for a while to track our finances, but I'm looking to upgrade to something more non profit friendly.

Right now our HCB is in the process of becoming incorporated. We just moved into a new chapter facility this year (still being leased from the school, but set up more like a house). Right now we don't have too many expenses since the school owns the building. We did have to get a cook this year and are paying him through an outside payroll service. I want to get us on better financial footing through donations and such - figuring a software package could help.

Any thoughts? Has anyone tried Quickbooks Non Profit Edition or any Fundraising software? Looking to not spend a small fortune on this, but can part with a couple hundred dollars. Thanks!

jmagnus · #2 01-25-2008, 03:57 AM

While it's not really "software" so to speak, Omega Financial ( www.omegafi.com) has worked out really well for us. Check it out if you want, it could be right up your alley

AZ-AlphaXi · #3 01-25-2008, 09:52 AM

my alumnae association uses Quicken to do their books and I use MYOB to track the house corporation funds for the house corp of a dormant chapter.

Both seem to do well as far as tracking, input, and reports.

AnchorAlumna · #4 01-25-2008, 01:34 PM

I've used QuickBooks for several businesses for years and really like it. There are a couple of things in the last edition for which I'd like to bash somebody, though. And the fact that it won't automatically update payroll taxes each year without paying an exhorbitant fee. But if you don't have to do payroll...or at least an extensive payroll...it's very good.

EE-BO · #5 01-25-2008, 10:56 PM

Quickbooks rocks! I have used it for all of my startups and it is surprisingly robust. You can really get pretty complex with it over time.

That would be my suggestion as well- go for the Quickbooks.

Omega financial services that someone else mentioned is more of an outsourcing option for dues collection- GreekBill is another one. Some like it because it takes away a moderate amount of busy work, but for the actual value you get I think it is a waste of money.

The top of the line service options with active collections on late dues etc. is far more expensive than the very base model service most people opt for which is really just paying someone $15+ per person to mail an invoice with a 41 cent stamp and put the money in the bank if it comes.

jmagnus · #6 01-25-2008, 11:59 PM

Quote:

Originally Posted by EE-BO

Quickbooks rocks! I have used it for all of my startups and it is surprisingly robust. You can really get pretty complex with it over time.

That would be my suggestion as well- go for the Quickbooks.

Omega financial services that someone else mentioned is more of an outsourcing option for dues collection- GreekBill is another one. Some like it because it takes away a moderate amount of busy work, but for the actual value you get I think it is a waste of money.

The top of the line service options with active collections on late dues etc. is far more expensive than the very base model service most people opt for which is really just paying someone $15+ per person to mail an invoice with a 41 cent stamp and put the money in the bank if it comes.

I suppose Omega is like that for some. But for us...it was so damn helpful. Not worrying about calling brothers all the time while they are purpously avoiding you. Having people get pissed at YOU when they cant go to events because they didn't keep up on their payment plans.

When someone knows the might be going to collections...they tend to pay on time. It's a real motivator for us.

FirstAndFinest · #7 01-30-2008, 06:45 AM

Definitely QuickBooks! I've used it at a former job and then the online version for our collegiate chapters. Very user-friendly!

EE-BO · #8 02-02-2008, 10:14 AM

Quote:

Originally Posted by jmagnus

I suppose Omega is like that for some. But for us...it was so damn helpful. Not worrying about calling brothers all the time while they are purpously avoiding you. Having people get pissed at YOU when they cant go to events because they didn't keep up on their payment plans.

When someone knows the might be going to collections...they tend to pay on time. It's a real motivator for us.

If this is what is going on in your chapter then you need to rush people who can pay their bills- or at the very least people who will be mature enough to not have a fit when they get suspended from social events because they don't pay up.

Being in a fraternity is a great chance for people to learn to grow up and pay their bills on time- or suffer the consequences. Why should members who do pay have to see some of their dues go to a billing service because other members can't honor their obligations?