#Japan #Utsunomiya #TKC #Cloud Accounting #Nonprofit Accounting

Introduction

In a significant move to modernize accounting practices for nonprofits in Japan, TKC Corporation has unveiled a new cloud-based accounting system aimed specifically at public interest corporations, social welfare organizations, educational institutions, and nonprofit organizations (NPOs). Starting from June 20, the first of a series of systems, the 'FX2 Public Interest Corporation Accounting Cloud,' will be available to help these organizations streamline their financial management responsibilities.

Overview of the Cloud Accounting System

TKC, headquartered in Utsunomiya, Tochigi Prefecture, has historically provided standalone accounting solutions. However, the company has now integrated its resources with the FX2 Cloud system, which is already popular among small to medium-sized enterprises. This new development allows concurrent access for both administrators and accounting personnel, similar to the functionalities offered by the existing FX2 Cloud system. The full suite of cloud systems includes:

1. FX2 Public Interest Corporation Accounting Cloud
2. FX2 Social Welfare Corporation Accounting Cloud
3. FX2 Educational Institution Accounting Cloud
4. FX2 NPO Accounting Cloud

The remaining three systems are scheduled for release on July 24.

Key Features of the FX2 Public Interest Corporation Accounting Cloud

The cloud version of the public interest corporation accounting system serves as the successor to the standalone 'Public Interest Corporation Accounting Database.' It adheres strictly to regulations and tax laws governing public interest accounting, allowing users to generate critical documents such as balance sheets and statements of net asset changes. Additionally, the system accommodates both the '2008 Accounting Standards' and the '2024 Accounting Standards.' The introduction of 'closing and declaration functions' in the FX2 Public Interest Corporation Accounting Cloud is planned for April 2026.

Unique Attributes of the New Systems

The FX2 accounting systems are designed with several standout features tailored to the non-profit sector:

1. Utilizing TKC's data center for enhanced cloud capabilities, the systems strengthen the unique functionalities tailored for nonprofits.
2. They share development resources with the FX2 Cloud, thereby offering similar features and performance.
3. They are fully compliant with segmented accounting standards as established by the relevant accounting guidelines.
4. The systems allow for the creation of cash flow statements, enabling accounting entries to automatically generate associated cash entries, with the exception of the FX2 NPO accounting cloud system.
5. Users can refer back to accounting entries from ten periods prior, facilitating a comprehensive view of financial history, similar to the FX2 Cloud.

About TKC Nationwide Public Interest Management Research Committee

TKC Nationwide is one of Japan's largest professional accounting groups, comprising over 11,400 members, including tax accountants and certified public accountants, spread across the nation from Hokkaido to Okinawa. The TKC Nationwide Public Interest Management Research Committee (abbreviated as TKC Public Interest Research Group) is a specialized subgroup within this organization, focusing on public interest systems as well as accounting and taxation matters. They were instrumental in the development of the FX2 Public Interest Corporation Accounting Cloud. For more information, please visit their webpage.

Conclusion

TKC's latest venture in launching a cloud-based accounting system specifically for nonprofits signals a commitment to improving management efficiencies and compliance in an essential sector of society. With state-of-the-art features tailored for various types of nonprofits, these innovative tools are set to redefine how these organizations manage their finances. For further details and to explore the accounting solutions, visit TKC’s website.