The market for fund accounting software for not-for-profit organizations is considerably smaller than the market for commercial accounting software, but it is no less varied. Unlike standard commercial accounting, fund accounting lets you identify and separate your financial resources in separate funds. This lets you track the source and the use of the funds.

If your firm hasn't moved to a document management system (DMS), it may be time to do so. DMSs are increasingly affordable and practical even for the smallest accounting firms. A DMS lets you go "paperless," or as paperless as anything is. The system stores documents-records, accounting files, tax returns and reports-and then helps manage their access and distribution on a centralized online system. A DMS makes your documents compact and instantly accessible, which saves you time and effort.