Whether you're a seasoned finance professional, or you have little or no finance experience, our handy guide to choosing a charity accounting or finance system offers a practical, step-by-step process for choosing the right system for your organisation.
Do you need a new system?
This is the very first question you need to ask yourself. Maybe your current system does everything you need, but you need to turn on additional features. It’s also important to remember that a finance system probably won’t solve process problems. That's a different issue and should be addressed separately. Hold off spending money on new accounting and finance software, until you've investigated your current system and you're confident the problems you want to solve are really down to the software.
Timescale and resources
Like many charities, you probably don't have unlimited resources at your disposal. You need to be realistic. Although you may want a new system, the resources might not be available to make it a reality.
You need to consider:
- Do you have the budget for a new system?
- Who will be involved in the decision making process?
- Who will be using the system?
- How will the system be implemented?
- Who will deliver team training?
- What impact will the new system have on day-to-day operations?
Click to view or download the full guide below
Full of practical tips and resources for charity finance and non-finance professionals choosing an accounting or finance system.
At the end of the guide, you will find suggested questions for you to consider, as well as a list of potential finance system suppliers.
Our thanks to our volunteer Stuart Walker for sharing his knowledge and insight on managing rising inflation.
About the author
Stuart Walker MBA, ACMA, is a business writer specialising in SaaS, Fintech and Financial Services. Stuart is a Cranfield Trust volunteer based in the South West of England and uses his accountancy and finance expertise and skills to guide our charity clients with all aspects of financial control, planning and forecasting.
Cranfield Trust volunteers can not provide any advice on or review of investments, choice of investment/financial advisors or managers, bank accounts or other recommendations on services or products. Any areas regulated by the FCA: covered by the terms financial ‘advice’ which makes recommendations of specific financial products, or ‘guidance’ which gives information on different options, services or products.