Is GMS Non-Profit Accounting and Financial Management right for your business?

GMS Non-Profit Accounting and Financial Management is a great fit for many businesses. Find out if it's the right choice for you! Are you looking for a GMS Non-Profit Accounting and Financial Management demo, technical support, product or pricing information or to simply to compare GMS Non-Profit Accounting and Financial Management with competitive options? Quickly get answers and the information you need.

The GMS Accounting and Financial Management/Reporting System offers a flexible accounting structure able to respond to virtually all management, audit, Board of Directors, and funding source requirements. From transaction entry to Financial Statements to detailed account ledgers the GMS General Ledger provides complete audit trails and user-defined security. General Ledger fully integrates with all other pieces of the GMS systems.

Chart of Accounts

Rather than require a large number of digits to code accounting transactions, our integrated structure streamlines data entry enhancing system performance.

  • 5 digit codes are used to describe asset and liability accounts. These are universally used across the organization with 10000s reserved for assets and 20000s for liabilities.
  • 5 digit codes are used to describe projects or equity accounts (these are in the 30000s series). All program elements(6 digit codes discussed below) are assigned to a project or equity account.
  • 5 digit codes are used to describe revenue and expenditure items. These are universal with 40000s describing revenues and 50000-99999 used for expenditures.

All accounts may be tagged as active or inactive. The system does not allow deleting accounts with activity. Our chart of accounts is fashioned to the needs of each individual client organization.

Program Elements

Program Elements are activities or components within projects or grants. Since they are pre-linked to projects when they are created, data entry is simplified.

Program Elements are the building blocks for the financial reporting structure. Line item revenue and expenditure reports will be generated at the program element (cost centers) level, summed up to the project level, and finally added into agency wide reports.

  • 6 digit codes are used to describe program elements (cost centers, activities, components, work program activities, etc.)

Cash Receipts

The GMS Cash Receipts program eliminates the need for multiple bank accounts to accommodate each grant and contract. The program allows the user to code the revenue directly to the grant or project it was intended.

All cash receipt entries have to be in balance to be posted as with all other original books of entry in the GMS system. Cash receipts may be reversed automatically before posting to correct any errors that may have occurred. The system will not post zero dollar cash receipt entries.

General Journal

You may have an occasion when you want to reverse or transfer data, perhaps a mistake that happened a couple of months ago. The GMS General Journal allows you to do just that. While most journal entries are automatic in the GMS system, this piece allows you to make corrections or perhaps do your depreciation entry on a monthly basis. You’ll find that you will do very few journal entries in a month, unlike the old fund accounting that requires many journal entries each month.

All journal entries have to be in balance to be posted as with all other original books of entry in the GMS system. Journal entries may be reversed automatically before posting.

Reporting

There are several standard reports that result from month end processing, those reports include:

  • Timesheet Reporting and Labor Distribution
    • Monthly Timesheet Charges by Activity
    • Current and YTD Employee Salary Charges
    • YTD Timesheet by Employee and YTD by Activity
    • Monthly Workers Comp Analysis
    • Monthly Unemployment Analysis
  • General Ledger Activities
    • Monthly Transaction Code Listing
    • Monthly Project Element Charge Listing
    • General Ledger with Current Month Detail
  • Cost Allocation
    • Leave Rate Computation and Analysis
    • Fringe Benefit Rate Computation and Analysis
    • Indirect Cost Rate Computation and Analysis
    • YTD Cost Allocation Summary
  • Financial Reporting
    • Balance Sheet
    • Revenues and Expenditures by Program Element
    • Revenues and Expenditures by Project
    • Agency wide Revenue and Expenditure Report

Other Applications

The following applications are designed to work hand-in-hand with General Ledger:

"General Ledger" is part of the GMS Non-Profit Accounting and Financial Management line of products, developed by Grants Management Systems.

Related Products

The following software product lines are also offered by Grants Management Systems: