IconCMO Fund Accounting
IconCMO Fund Accounting is a comprehensive, web-based financial management system tailored specifically for churches and nonprofit organizations. It adheres to the Financial Accounting Standards Board (FASB) reporting standards No. 958, ensuring compliance with nonprofit accounting principles. The system emphasizes accountability over profitability, allowing organizations to track financial transactions across multiple funds, each with its own self-balancing set of accounts. This structure enables churches to manage designated and undesignated funds effectively, ensuring that resources are allocated and reported according to donor intentions and organizational needs. Key features of IconCMO Fund Accounting include complete fund budgeting, allowing users to create and manage budgets for each fund, and compare actual revenues and expenses against budgeted amounts. The system supports both cash-based and accrual-based accounting methods, providing flexibility to align with an organization's financial policies. Users can perform essential banking functions such as writing checks, making deposits, and reconciling checkbook activity. The accounts payable module enables the creation of vendor lists, entry of invoices, and efficient bill payments. Additionally, the system offers accounts receivable capabilities, allowing management of an unlimited number of customers through invoice creation, payment recording, and deposit slip printing. IconCMO Fund Accounting also provides robust reporting tools, generating FASB-compliant financial statements like the Statement of Financial Position and Statement of Activities. These reports can be produced for individual funds or consolidated for the entire organization, offering transparency and insight into financial health. The system's design ensures that all financial data is secure, with automatic upgrades and nightly backups, providing peace of mind for users. Overall, IconCMO Fund Accounting delivers a user-friendly and powerful solution for churches and nonprofits to manage their finances with integrity and efficiency.
Who Is the Company Behind IconCMO Fund Accounting?
- Seller: Icon Systems
- Year Founded: 1992
- HQ Location: Fargo, North Dakota , 58103
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LinkedIn® Page: www.linkedin.com
19 employees on LinkedIn®

