Part One – Accounting Subledger, the tool that your Finance Department will embrace

In many nonprofits, a lot of time is spent in conversation between the Development and Finance Teams regarding gifts that need to be accrued, scheduled or written off.  Without the right tool, teams can spend a lot of time going back and forth getting the numbers to align. That’s where Accounting Subledger comes in. Accounting Subledger can address and streamline this process, saving both effort and time.

Let’s just say that the Development Team receives notification of a major Capital Campaign gift. To follow the internal process, they need to inform the Finance Team of the gift. The Finance Team then creates a Ledger Entry for accounts receivable. Then a check, or maybe three, arrives for the same gift and each department makes entries in their own systems. The donor communicates to the Development Team that they are unfortunately unable to fulfill the remaining gift, and writes off the remaining planned payments. But the Development Team is busy and forgets to communicate this to the Finance Team who is prepping for the board meeting. Yikes! Numbers don’t align.

The above example shows how very manual this process can be for both the Finance and Development Departments. In the past Redpath has built custom objects, process builders and flows to handle the creation of Ledger Entries, yet this setup requires maintenance and troubleshooting.  Enter Accounting Subledger!

  • Designed to work with Nonprofit Success Pack
  • A financial product inside Salesforce that can connect to your organization’s financial tools outside of Salesforce. 
  • Creates Ledger Entries for Opportunities and Payments based on General Accounting Unit Allocations. Ledger Entries can also be connected to Outbound Funds for disbursements of money.
  • Supports both cash and accrual accounting.

Sounds like a wonderful tool to keep your development and finance information in alignment, correct? Start discussions internally at your organization about these features. Start to strategize. Join us for our next blog where we share how to set up Accounting Subledger. Get ready to save staff time currently spent crunching and discussing numbers, and more time focused on your mission. 

Ready to learn more now as budgeting season is upon you? Reach out to Redpath now! 

With the rapid evolution of technology, Salesforce solutions are ever-changing and improving features. Contact our team for up-to-date information.

Published On: October 20, 2021

About the Author: Andrea Hanson

Andrea is a Senior Nonprofit Salesforce Consultant who enjoys working with nonprofit clients as they transition to or enhance Salesforce to streamline their donation/program/event management tracking. She has over 15 years of nonprofit experience. During those years she was introduced to Salesforce as an ‘accidental’ admin and has since been helping nonprofits embrace Salesforce NPSP as a Consultant with Redpath Consulting Group.