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nonprofit accounting software case study

Case Study: Tulsa Jewish Retirement Finds Accounting Software Solution for Their Growing Nonprofit Organization

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Tulsa Jewish Retirement (TJR) is a continuum of care facility offering independent living, assisted living, and full-time nursing care and health care services for seniors. The organization has been serving seniors in Tulsa for over 30 years and continues to grow. With this steady growth, TJR’s accounting software struggled to keep up. It could no longer meet organizational needs and slowed productivity.

They knew they needed to find a better financial management solution. TJR looked to JMT Consulting Group (JMT) for a solution. Now, their streamlined, customizable system not only meets their financial needs efficiently but also provides the board with all their required reporting.

After struggling through the aches and pains of working with a system unfit for their growing organization, Glenn Hale, Staff Accountant at TJR, began his search for a more robust accounting system. Glenn felt the organization had outgrown Quickbooks because its system could no longer keep up with their needs—rather, it slowed them down and held them back from what they really needed in nonprofit accounting software. Glenn had difficulty processing payroll. He couldn’t format financial statements to meet the board’s needs. He often ended up putting in extra hours to do financial reports manually.

To find the right financial management system, Glenn says he looked specifically at consulting firms focused on nonprofit accounting software.

After researching several consulting firms and attending various webinars, Glenn chose JMT. Everyone Glenn interacted with at JMT impressed him with their knowledge and experience in fund accounting. He was also pleased with the solutions they presented for his organization.

noprofit accounting solution

“JMT looked at our needs and wants and provided an accounting solution that would work for us,” said Glenn.

Glenn worked with Dagi Stanton, Project Consultant at JMT Consulting Group. Dagi helped implement the Abila MIP Fund Accounting for TJR. From the beginning, Dagi could see Glenn’s frustration with Quickbooks and its inhibiting financial reporting system.

“Quickbooks did not provide good audit trails for [TJR] and creating the monthly financial statements for their board was very painful,” Dagi said.

TJR’s old accounting software had another weakness in its functionality. Glenn needed a single financial software solution—not a separate system for Accounts Receivable billing and another system for Fixed Assets and so on. In addition to these issues, TJR needed to expand their chart of accounts with a system structure that actually allowed them to do it.

In JMT’s more than 25 years of experience serving nonprofits, their top goal has always been to help clients achieve their missions. According to Dagi, one way JMT would reach that goal was with nonprofit accounting software implementation. This would help TJR streamline success from the start, another goal of JMT’s.

Dagi wanted TJR to “have the ability to run any financial report with the push of a button, as well as a more streamlined data entry process,” from the moment they went live with the new system.

Glenn also needed a solution with the ability to send Accounts Receivable and create journal entries automatically. All this combined with the ability to budget at whatever level of detail the organization desired. And JMT made it happen.

After JMT completed the implementation process, TJR reaped the benefit of a successful financial management solution tailored for their nonprofit, including:

 

  • Custom Financial Reports: With their old accounting system, Glenn found it difficult to format financial statements the way he needed to for himself and the board. But MIP’s built-in financial report writer put Glenn in control of financial reporting. Now, Glenn can run a financial report whenever he needs without going into Excel to manipulate the report manually first. He can customize reports to show the data he and his board need to see in a way they can analyze best. This was not something he could do in Quickbooks.

 

  • Streamlined Process with Integrated Systems: Siloed systems for functionalities like Accounts Receivable billing and Fixed Assets affected productivity for the accounting team. The integrated financial software system streamlined the accounting process. Abila MIP Fund Accounting offers built-in systems with flexible reporting capabilities that are comprehensive yet easy to implement and use.

 

  • Restructured Chart of Account Codes: Glenn couldn’t expand TJR’s Chart of Accounts as needed. To streamline TJR’s financial reporting process, JMT worked to restructure TJR’s Chart of Account codes. This included adding more account code segments with MIP’s segment structure. The new account code structure lets Glenn track more detailed budgeting. With the Accounts Receivable Module integrated with the General Ledger, Glenn can now generate AR invoices and have the system create the journal entries for him.

 

Currently, JMT is working with Glenn to implement the MIP Fund Accounting Fixed Assets Module. This module will let Glenn keep track of his Capital Assets and run depreciation from within MIP. He no longer has to go through a manual process involving an Excel spreadsheet and manual journal entries for depreciation.

jmt case study for nonprofit financial management

Glenn is grateful for the solutions JMT brought to help streamline TJR’s financial reporting systems. They are “professional, helpful, and concerned about your success,” Glenn said.

Thanks to JMT’s implementation of their new financial management solutions, Glenn and his team have streamlined systems, more options in financial statement processing and consolidation, and quicker processing time.

“The people I’ve talked to and worked with from the consulting to implementation have been exceptional. They not only sell you a system, but they continue to work with you to accomplish your goals. JMT has been great in every way!”

Looking for accounting solutions for your growing nonprofit? Start by discovering the tools you need for financial management in this guide made specifically for nonprofits.

nonprofit financial management tools

 

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