For nonprofit organizations, such as associations and member-based groups, iMIS is a common tool. This association software solution helps them keep track of all kinds of membership and revenue data. Groups can also use iMIS to see touchpoints they might have with potential donors who are going to help bring money into the organization.
Since these groups are dealing with actual dollars and cents, however, it’s important that the data also be tracked in their accounting system. For nonprofits to effectively utilize the benefits of Sage Intacct, they need to bring over the revenue data that’s being captured in iMIS.
While iMIS does a great job of showing membership and revenue information, Sage Intacct allows nonprofit organizations to see that data as part of the larger financial picture. Sage Intacct users can easily assemble custom dashboards and reports with real-time numbers that offer a clear view of an organization’s financial health and overall impact.
For example, a report might list program expenditures with per-member costs, with information that includes personnel expenses, professional fees, occupancy costs and general and administrative expenses for each department within the organization.
Dashboards in Sage Intacct can show information such as revenue sources, membership revenue trends, membership growth, and marketing efforts. Graphics like pie charts and bar graphs illustrate the data in a way that makes it easy to understand for everyone from leadership to board members.
How to move data from iMIS to Sage Intacct
An automated process for moving iMIS data into Sage Intacct is under construction, but until that build is complete, import/export is an affordable and effective method to move the information. Here are the steps for this process:
- On the iMIS side, users should create a general export that will provide the posting date of invoices and their cash receipts. This report will include dates, distribution, which is generally going to be the organization’s posting account, and the actual debit and credit amounts.
- This report from iMIS can then be pasted into an Excel workbook. It will map the fields from the iMIS export to an import template to bring this data into Sage Intacct.
- The data can be input into the AR module in Sage Intacct or into the journal entry screen. For most organizations, it works best to bring the data over as straight journal entries, rather than bringing them in as invoices. Typically, the nonprofit will be using iMIS to actually invoice their customers and to communicate with them, so they won’t need to use Sage Intacct for that.
- Once the information has been input into the general ledger in Sage Intacct, the organization will then have the revenue and the dimensional data they need for reporting and dashboards.
These capabilities give them a great way to show their membership streams or show their development data right next to all their other operating expenses and activity.
Want to find out more about how integrating iMIS data into Sage Intacct can benefit your non-profit organization? Set up a time to talk with one of the experts at RSM.