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Data that Drives Results for Transportation Authorities
With missions to improve residents’ quality of life and increase economic sustainability for its local region, Transportation Authorities are dynamic governmental entities that provide public transit throughout the United States. As a public service, Transit Authorities are heavily subsidized by the Federal and State government, requiring rigorous tracking of the revenue and expenses related to these grant agreements. These requirements put a strain on the transit’s accounting software, and many software packages do not have the capabilities or features to meet the grant compliance requirements. Many accounting software packages can do the basic accounting functions, none have been able to meet all the needs of the Transportation Authorities.
Many utilize separate spreadsheets and disperse systems to track cost allocation plans, operating assistance reports, and grant management, and these are not incorporated or integrated into their accounting package. Causing lengthy period-end closing processes and duplicate manual entry increases the likely hood of mistakes. The expert governmental audit and technology teams at Maner Costerisan came together to find a solution for Transportation Authorities.
The Solution
The team identified grant management as the most significant need within the accounting software for Transportation Authorities. The search revealed that Sage Intacct offered the best feature fit, with grant tracking and allocations incorporated as part of the accounting software. This feature allows you to track the compliance requirements of state and federal grants, specifically the 80% portion of the federal grant and 20% portion of the state grant. In addition, Sage Intacct grant summary provides visible reporting, dashboards, for management to pinpoint the remaining portions of the grants at a click of the mouse. Thus, giving the Transit Authority the agility to manage the grants in real-time.
AICPA and Sage Intacct
The right choice is backed by AICPA. The American Institute of Certified Public Accountants (AICPA), the accounting profession’s independent organization that sets high standards for accounting software. The AICPA and its subsidiary, CPA.com, has named Sage Intacct as its first and only preferred provider of accounting applications. Sage Intacct, cloud accounting and financial management software, delivers a depth of financial capabilities and flexibility—adapting easily to the way you need and want to do business, making your finance team more insightful and productive.
Is your Transportation Authority looking for an Accounting Software solution? We can help!
As a Sage Intacct partner, Maner Costerisan helps finance professionals increase efficiency and gain greater insight to make confident long-term decisions and then act fast to execute changes with Sage Intacct. Our dedicated government and technology teams can help you evaluate your software requirements and demonstrate the benefits and efficiencies gained with an integrated full-featured system.
The materials provided in the News & Insights section are for general informational purposes only and may not reflect the most current legal, tax, or financial developments. While we strive to ensure accuracy at the time of publication, Maner Costerisan does not guarantee that the information remains up-to-date or free from error. We recommend consulting directly with a Maner Costerisan team member to confirm the applicability and relevance of any information to your specific situation.