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Solution Information

GMS Accounting and Financial Management System

Company: GMS Accounting Management Software

The GMS Accounting and Financial Management/Reporting System integrates all accounting activity into an entity-wide system. The GMS Accounting system is not sold as separate modules, but rather as a package containing all the necessary functions to run your not-for-profit on a daily basis. Our underlying system design is entity-wide, providing you an integrated accounting system that performs all accounting activities. Systems are available in a 1–2 user version, a 3–4 user version, and a 5-or-more user version, either in Access or SQL Server applications.

GMS has add-on software that can be purchased in addition to the basic package, including accounts receivable (AR), purchase orders (POs), direct deposit, fixed assets, and report writer. GMS also has a myriad of additional supplements to enhance your reporting features and that fit specific applications within your agency.

GMS is designed to handle activity accounting. It is not a fund accounting system, but a grant and contract accounting system created and written specifically to account for grants, contracts, and activities.

Key features include

  • compliance with Financial Accounting Standards Board (FASB) 116 and 117 (requirements that all not-for-profit organizations follow);
  • accounting, reporting, and budget monitoring for multiple grants and contracts, even if they have differing funding periods;
  • multiple ways to handle important cost allocation issues for common costs, general and administrative costs, indirect costs, fringe benefits, leave costs, and various specialized cost pools; and
  • a variety of ways to comply with all major Office of Management and Budget (OMB) Circulars.

Our clients are exclusively not-for-profit and public organizations. They range in size from two to more than 1,000 employees.

 


 

 


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