Megan Mendiola: Alright, thank you everyone again for joining JMT consulting for our webinar today over audit ready financials and sage intacct.

My name is Megan Mendiola, and I am a regional marketing Coordinator here at JMT. We're very happy to have our very own Mark Braisher on the call to lead us in our webinar today.

Mark is a sales engineer here at JMT and he's going to show us some really amazing features at sage intacct here in a moment.

I do want to let everyone know that this webinar is sponsored by JMT consulting. We are an ERP and financial management solutions consulting firm with 28 years of experience specializing in nonprofits.

We work with a wide variety of software partners to find the best solution for your nonprofit.

I'd also like to share a few housekeeping notes with y'all. Before we get started.

If you do have any questions during the webinar today. Please go ahead and submit those into the question and answer portion on your control panel.

We're going to go ahead and save all of those questions until the end of the webinar but don't hesitate to go ahead and submit those as you think of them.

Also today's webinar recording and slides will be emailed to you within 24 hours following the conclusion of today's webinar. And with that, I'll go ahead and turn it over to Mark to get us started.

Mark Braisher:Right, thank you, Megan. Thank you for joining us today. I know everyone is busy everybody's time is very, very valuable. And so we want to jump right in.

JMT, we deal with all sizes of nonprofits. I have dealt with nonprofits anywhere from small ones to four, to five million dollars in revenue to over 150 million dollars in revenue. And so one of the things about intacct and we're going to show you today is that for the smaller organization, it gives you the robust software to do what needs to be done it, do not have to who

Optimize to have second best intact is the best in class and software for the large organization. It has the ability to expand to wherever you're going, and so I hope that you'll see that today. Before we get into the actual reporting.

I want to identify with you a little bit your everyday mission is to prepare the information so that dollars can be spent the most efficiently in your organization.

Your CEO or executive directors, looking down on you and saying, how's this money being spent. How is it being spent effectively and efficiently.

And that is your job to make sure that they can do that. And that's really a CFO and being a former CFO that that's what makes us tick, be able to show that information.

In addition to that is preparing reports of all kinds. But one of the most critical. I know there are reports for donors so that they see that their phones are being spent wisely. And so that's the funds continue to come in.

And so you have those kinds of things going on that are exciting for you and things that make your day meaningful and then you have the audit and so that

The audit pulls us away from doing what we want to do and why we want to do it and it comes along, once a year. I know in in CFO work and previous years.

My kids would ask, Dad, what you do at work today and I would say something about the audit and they would say, Well, I thought you did that last week and then so sometimes these audits are not only

A few days, but a few weeks and sometimes even a few months, and so they seem to grind on and so my hope today is, is that we look at some of the reporting.

That we can help you streamline some of this. And so that you are preparing reports and getting ready for the audit all year long. And so that you're ready to go. So let's jump right in. I'm gonna show you some screenshots to began

And then we'll look at the software itself. First of all, the first screen I have is

Documented I'm theory, all of your familiar with the faz be accounting standards update and in the faz be accounting stout standards of date. You're going to see the various reports that this that are required of you. And so if we go through these.

Today, You think progress here. One of the things that comes up as the statement of financial position. Now this bullet and

You can see the crossed-out pieces from the FASBE document and the changes that are made the changes that were made.

And I know you're familiar with the someone spent a lot of time, but we can see that they change things from the permanent and temporary

restricted and unrestricted to such things as with and without donor restrictions. And so one of the pieces of a puzzle. When you're looking at software is is this software going to be able to adjust

As I need it to as the regulations change as they know that will going down the road. And so you have your statement of financial position.

Your statement of activities and all of a sudden, we've gone from again the with without donor restrictions, the various columns, the totals. And so the ability to create this within the system every single day. I talked to

CFO and controllers from various organizations and almost every single day when I talked to them about

Their current software they immediately say, Well, I just dump all my information out into Excel and then I create the report that needs to be reported to be created.

Our goal for you is to do those things within intact.

It is this the software is not just for gathering the data and then having to put it into some other format to be able to report on it and to be able to

manipulate it to get the information out of you want, but to do it within the software itself. And so one of the major goals and if I had the opportunity to sit down with you and I

Demo personally or enlightenment call my conversation will be with you is what are those processes that you're doing outside your software.

That we need to move into the software so that it becomes a part of your everyday process rather than having to spend hours and hours manipulating Excel spreadsheets.

We all there in the financial business enjoy Excel enjoy all the amazing things that it can do.

But your greatest value to your organization, as you know, is not to manipulate Excel spreadsheets, we can find other people to do that.

Your greatest value to your organization is to be able to analyze that data. And so if we can get it to the reporting level.

The quickest way to do that in the most efficient way to do that allows you to do what you really

were praying to do would like to do. So you have your statement of financial position your statement of activities here also is the form 990 from

Part nine of the form 990 of your IRS Form. And so these are reports that are required of you around audit time. And so we want to take a look and see what what intact can do to help you create those

So going back. Here's the statement of activities I showed you in the beginning.

You can see it there and right beside it. I want to show you

The intact. So, this report right here is pulled and I'll show you the actual report here in a few moments, but this is this is a screenshot straight from the software and as you can see it lines up and it does exactly

What is required of you for your statement of activities. Come on, at time, everything is lined up without donor restriction with Don restriction. Your GL accounts down the left side, you're beginning assets beginning your assets at the end of the year.

Under restrictions that without restrictions and then all those combine the lines up perfectly allows you save a lot of time and and not taking data and moving into Excel and then creating this the reports that you need.

Here's a financial position form or format. And here's your statement of financial position within intact at the same type of thing.

We have the previous year. What were the current year current you're using demo data. So it's COUPLE YEARS OLD. The 2018 data is the current year for for this particular demo.

Previous year 2017 with and without donor restrictions, just as the the reg call for and so everything is lined up immediately. And you set those up. And so we'll dive into just a little bit further, as we go further along.

And then your form 999

There is there is that report.

And as you can see we have our regular GL accounts down the side. And then we have your ending to your total expenses straight from column A,

Column B program services column C management in general column D your fundraising.

lined up exactly as it is. And so if when you're working with your auditor. The ability for your software to do this is going to save them time and when it saves them time. It makes it

Makes it easier for you as well. And so I my encouragement to you is to see what intact can do with those. So let's, let's take a moment here and let's jump into the software and see if I can't show you some of the things that the software itself can do

But we go to those reports module, the software.

And here's the all reports. So what I wanted to start with here is just giving you a glimpse, and we're going to go back to those three reports here in just a moment.

But there's other things along the way that I want to share with you to kind of give you a clamps and whet your appetite for it. As you can see some of these have been edited and created as you go down through this lifts for the report center.

You see a number of reports you see 990s you see statement of activities you see fun financial position you see an investment footnotes, you see a variety of things.

You'll see regular budget reports and so on and so forth. How the box impact provides for you.

Over 25 different reports and these 25 different reports are the beginning stages for you to create reports with the premier organization.

There is there is no need within the reporting system of intact, to be able to use code or start from scratch. But you start from these basic reports that are already created for you and you began to build upon those things.

As as you go along. And if you'll notice down through here as you go along and you create reports, there's two ways that I do this to find the specific reports that I'm looking for.

And I want to use time and again because of all the other ones that are already there is I put them in, put them in an order with the lineup immediately.

Or you can mark them as a favorite. And once you mark them as a favorite when you come into the report center as it did when I opened up this, it goes automatically to your favorite reports. And so I've put into this for us today.

The favorites and into the favorites just these three particular reports that we have looked at her and looking at today.

And so as you look at this report if we, if we go to this particular report. This is what we found that I showed you from the the slides. A moment ago. You see it's pretty cut and dried. It's very simple. It's very compact. So if I go back to that report, and I want to create it.

It's going to give me the opportunity to do that i can i can narrow it down by department or empty. Of course, we want the whole organization for our purposes today. And there we are at that report, but as we go into the report we

Use me the auditor comes along and says, well, I need to see into the detail.

Now obviously looking to pull random invoices and random contributions and those sorts of things to be able to audit. And so the the report center allows you to drive and dive into those rather easily. So let's say he he or she tells you and says, Let's look into your contributions.

They go into your contributions.

And you drill down into and you get all these increase of contributions throughout the year.

Well, let's say he wants to look further as a $29,000 contribution that was posted on on January 1 2018

And there you have you've drilled all the way down to the actual transaction level.

For the auditor. Not only have you drill down to then there's that $29,000 entry that we talked about earlier. Not only have you drill down into the actual entry.

But you also have the attachment that that gives the documentation that is needed to support that particular entry.

It's right there. It's always there, it's it's prepared for you and allows you, who provide that information to the auditor or

And there may be many of us CFO, is that are wanting to do this but there seems to be more and more as we live more and more of a day.

Rather than doing this thing once a year, but doing it on an ongoing basis. So come the end of your fiscal year. It is not a, a major action, but a continuation what's been going on.

Giving auditor access for a short period of time or whatever period of time, you would like to a read only access and access to only what you want within the, within the system. Maybe just within the the reports themselves.

And that way, they're able to dive down, find the information they want find the documentation that they want and support the the entries that you've made.

So that is one way that the, the report center makes things quite easy for us in in intact.

So let's back up. And let's look at the financial position report that we looked at a moment ago.

But here's the report.

And as we look down through here. Again, it may be that we want to look further into the report and as I showed you already

You can expand anytime you have the triangle this turn to the side.

Or this area where you have blue letters you can expand that area or dive into the area. The reason these are not lit up at this point into blue

Is because there are additional categories underneath those. And so they're they're allowed it to do it and allows you to dig further into it.

But here we are in our short term liabilities and so there's two ways to be able to expand these. So maybe you start your general report and you have it.

Pulled up tight like this or maybe you expand it, just a little bit and have your short term and your long term tied up like that. But let's say you wanted, and you can easily open that up and go down into it. But there's another way to do that as well. To make it

Something that you do.

Where it automatically comes back to you the way that it wants to. And we do that in our rows.

If you notice here in the short term liabilities. It was just showing the summary. I'm showing this to you. I know this is a lot of detail.

But I'm showing this to you today to show you how simple it is to expand these various pieces so it is as simple as that. And all of these, and we could pull those into detail if we wanted to.

Those simple as opening that up from the plus to the minus and all of a sudden you've got all these available to you. Now we go to the report.

The short term liabilities are all pulled open. And so there are two ways to do it within the report itself.

To see a summary and then expand the summary or in the actual building other portray able to do that as you look at the different rows and and create that. And so

It is very flexible. I have made the comment, many times. If you've been in a a personal demo with me. I've made the comment on many times that

The reporting system within intact.

Has I know it's not infinite because I know infinite is off is an awful large number, but it, but it is almost infinite in the different

Possibilities of what you can do with your reporting system. It is only limited by your number of accounts, your number of dimensions departments etc that you might have.

Because it is so flexible and not only is it flexible, but it has the ability to do that without going into coding without going into building from scratch, I am convinced that after just a few short times of taking one of the the

The pre built program or reports that are in the system that you can take your reports and you can began two

Weeks in the way you want to edit in the way you want, and then save them. And once you save them. You can go back to them, time and time again, or even even have the opportunity to have them automatically send those reports to you by email on a periodic basis as you choose.

So let's go back and look at the 990

As you look at the 990 again. It's a basic traditional report.

You have the GL accounts down the left column and then across the top. What we have our are the categories that were set up that are dictated to us by 990 the total expenses programs program services management in general.

And fundraising. So the big question is, is how difficult is it to get these into the categories. So that looks like this, so it matches the 990 that I'm going to have to create or that my Otter is going to have create someone's going to have to create to put into the

Well, the way that it is done is through departments. And so if we go back and look at

The 990 report, we go back into the editor of it.

When we go into the columns.

What's showing you the other direction. We've got the regular GL column here. And then we have total expenses program services management in general and fundraising and if we dive into that just a little bit. What we see is
The way that is done is through departments and through department through the, through the dimension that is called departments.

Some software going to use the term if you're here with MIT been using an IP. They may use the term segment.

But it's all part of the Chart of Accounts. The dimensions. And so we create dimension groups in this particular one is called program services and and program services. We've put the

All the departments that need to go into that.

And so you can see here we have program services there. We have management in general we have fundraising and course we do not have any here because we've got the total expenses there. We've titled it What we wanted to do. It is that simple. The issue of changing the years

The issue of going doing future years in forecasting. If you have a budget, the, the ability to do past years, and do prior years or prior multiple years

To take this information, whichever direction that you need to take it is available to you.

Who have these particular departments. Now let's go into the departments themselves. Let me show you. I think it's this one here, how we have set that up.

Pretty simple.

Scheme here, but we we what we have done. We have set up our departments.

Under the three areas that the 990 requires you have your fundraising, then nothing else under that. But under management. In general, we had the various departments that may be under management in general.

And then under program services. We have the various departments. And so these are, these are the parent

Welcome services is apparent to these particular departments and so therefore, when we go to the report.

And get back to the right report.

When we go to the report were able to pull these particular groups that are set up in that is set up as department services or programs services.

For the department hierarchy allows us to do that.

So at the end of the day.

In the business office. No one knows the amount of detail that goes in to any of these numbers.

CEOs executive directors board members donors different ones. Look at these reports.

And see all the numbers are such and such, with the other day. No one knows all the work and detail that you and your staff to to make sure that the detail is there so that presentation such. This can be accurate.

And be effective in intact, you have the ability to create those reports, simply, it is it is

It is a very big disappointment in the financial office when all the work has been done all the detail has been done and then you have the inability to report it out to those who need to know it, and those who need to see it.

Need to work with it need to make decisions based on it, do not have that available to them intact allows you to do that. I

Megan did not go into detail my bio, as I mentioned, I was former CFO of a private college and we were originally when I came to the college we were in MIP.

MIP was a good software. It did great things for us that over the last few years I was there, I began to see the change and we had MIP on our local servers within the, within the school.

And we began to see the need for change to go to the cloud that needs to change for a variety of reasons. One was security and the ability to know that our data was good. And then if our servers failed that that they that that they were taken care of in the cloud.

And the changes that were made, as far as what we've talked about today with the various reports and so we made the transition ourselves from MIP to Intacct. And by doing that, we opened up all kinds of doors and abilities for us in management.

Of making strategic decisions for the future, but not only making the strategic decisions for the future and operations.

But also presenting to our donors, the information that was needed to show them that we were we were being wise stewards of the funds that they had given us to carry out our mission that they wanted us to carry out

That is the purpose of counting to get us to that point to be able to do that so we can keep the mission going I know when we look at the operations.

Of your particular organization that oftentimes the back office, the financial officers overlook without good reporting like this. The rest of things began to fall down and so intact gives you the opportunity to do that. And I encourage you to

look further at it and see what it can do for you. All right. Megan, we have questions. I'll take those

Megan Mendiola: Yeah, thanks, Mark. It looks like we do have a couple questions so far. And the first one is, is the drill-down available on all reports or just some reports.

The software that I use doesn't allow for drill down on some format of the statement of activities such as the periodic style and combining style of report.

Mark Braisher: Most all reports either reports that any statement activity reports, it's

Going to do most of all the word is there. There are a few that it does not allow but it's really, it's on the fringes, and it really gets into some of the very, very

Customized reports that you might do.

And and so I would say 99% of reports that you're going to use on a day by day basis.

Maybe 100% report, you're going to use on a day by day basis. It's going to be there for you. The drill-down is very much part of that's a part of the ability of a native cloud software is that ability to drill. And as you saw my screen.

These different windows just popped up the ability to just go into these different windows and to drill down makes that available to you. And so it's almost it's not hundred percent but it's almost 100%

Megan Mendiola: Great. Thank you, Mark. And then the other question that we had come in is where can I find the standard reports. I don't see anywhere in my version that there is a standard list.

Mark Braisher: Should be under the report center, I believe, is where it is.

It's been a while since this demo was completely new. But I think it's report center.

Our professional our support can help you find that but I'm pretty sure it's in reports and that's where it is here. I'm pretty sure that's where it is all out of the box.

Megan Mendiola: Great. And that's all the questions that we have so far. And just a reminder to everyone. If you did have a question over anything that Mark covers today, you can submit those questions into the question answer center on your part of your control panel and we'll get those answered.

Right away, and while we wait for any more of those questions to come in. I'll just expand upon what the follow up process will look like after the webinar today.

So I will be reaching out to everyone through a phone call, following the webinar, just for a more personalized discussion over your organization's needs related to your financial back office.

To see if intact would be a good fit for your organization and from there we can move into a more formal assessment.

And evaluation. So everyone just be looking out for that phone calls from me. Starting tomorrow and I'm looking forward to connecting with you all. I think we did have another question coming just now. Mark.

It asks, How do you attach the source documents into the document.

Mark Braisher: It's a simple click and drag

I can go back to the report.

Yeah, it's a simple click and drag and I'm not going to find what I'm looking for. Immediately here. So I'm not going to spend much time on it. Let me go back to that one.

That we had open. Yeah, so that that was so the document.

Has to be saved on your computer and but then once it's saved on your computer out of your, your file manager, you can just simply click and drag it over and you can I click that and this one only I showed one attachment, but

As you can see with this. There's multiple transactions within this one journal entry. And so you can have multiple attachments, so

I don't think there's a limit on how many you can have there. And so it can click and drag and you can do multiple attachments. It's a real simple. It takes us closer

We all used to think years ago we hear old enough to remember to think that we were told we wouldn't we would do with paper. I don't know we're ever going to do with paper, but it's one more step closer that where you can take a a invoice.

Click and grab was well if you receive it digitally. Obviously, you can click and drag it into the transaction.

If you receive paper, you can scan it into your computer, click and drag it in and do away with the paper and then it's where it needs to be at the right time that you need it, rather than looking for through another file.

Megan Mendiola: Great. Thanks, Mark. And that's all the questions that we had. Oh, it was just another question come in. It's just a follow up to the previous question because can you add the documents later.

Mark Braisher: Yes, you can. So I clicked edit. Here on that particular transaction and I did not have a file open, but I can just click another one and drag it into that into that later.

Megan Mendiola: Great. Alright, it looks like that. That's all the questions now. We'll see if any last-minute questions come in, but just a reminder, if you have a question that you aren't able to ask on the live in our day or you think of later on after the webinar. Don't worry about that. You can ask that during the follow-up and we'll get that answered for you then as well. And so before we close out today.

I did want to let everyone know that we have another webinar coming up on October 27 over finance board-ready reports at your fingertips. We definitely recommend getting signed up for that one as well. It is free, like all our webinars are and you can register on our website at JMT consulting.com

And looks like there are no more questions. And that's all I have today. So before we close out, Mark, do you have any closing words for everyone.

Mark Braisher: No, I would just simply say if you do have questions, do not hesitate to reach out to us.

JMT. This wasn't talking about mentioned beginning, I didn't say much about it. We are not a publisher of software.

We are a consulting firm that helps connects you to the best software and we think intact right now for enough profits is the is the best software available.

And so we want to help you. Our goal is, is to help you reach your mission that we want to do. So anyway, we can help, please let us know.

Megan Mendiola: Great, thank you so much Mark. And thank you everyone. Today, for your time and joining us. We appreciate you all, and we hope that you all have a great rest of the day. Bye, everyone.