AccuFund, Inc. — AccuFund Accounting Suite - 2010 Review

www.accufund.com

AccuFund Accounting Suite is a software product designed specifically for nonprofit and government entities. AccuFund is highly suitable for mid-range nonprofit organizations that desire a strong accounting product.

BASIC SYSTEM FUNCTIONS

AccuFund’s on-premise installation might be a little complicated for non-experienced personnel, and is best left to experienced consultants. The system is also available as a hosted program, which makes installation a non-issue. The main navigational feature is the AccuFund Toolbar, which offers access to all installed modules as well as frequently used system functions within each module. The toolbar options refresh when moving from module to module. Data-entry screens are uncluttered and offer lookup options and various function buttons as needed.

The Core AccuFund Suite includes GL, AP, Cash Receipting, Bank Reconciliation, Financial Report Writer, System Security, Dynamic Elements, Forms Designer, and Data Imports & Exports. Numerous add-on modules are available, as well, including AR with Inventory, Budget Development, Payroll and Labor Distribution, Grants Managements, Human Resources, Fixed Assets, Allocation Management, Purchasing, and Loan Management.
AccuFund is a scalable product and offers both a standard and professional version of its product, offering organizations the ability to expand to a more robust version when necessary. 5

CORE NFP/FUND ACCOUNTING CAPABILITIES

AccuFund’s account structure is extremely flexible, with the ability to use up to 256 alphanumeric characters and any number of account segments. AccuFund also contains automatic due to/from accounting capability and allows users to manage all multi-fund, multi-period system activity. The optional Budget Development module allows nonprofit organizations to track and monitor an unlimited number of budget cycles, view any historical data, or develop multiple types of budgets simultaneously. This module also easily integrates with the AccuFund GL module for complete budgeting/accounting capability. The Outreach Suite provides organizations with the capability to enter donor information and track donation detail.

The optional Grants Management module allows users to track grant approval status, devise and customize a budget for each grant, define specific tasks for each grant, and maintain a history of all grant submissions. AccuFund’s GL functionality also allows for multiple year-end closings and permits entries to be posted in prior years. All system transactions are easily accessed with system user, date and time noted.

As previously noted, AccuFund offers a hosted version of its software, which can be accessed from anywhere. EFT payments can be made from the AP module, and bank information can be updated automatically for easy account reconciliation. AccuFund also offers automated report distribution via email as well as payroll direct deposit. 5

MANAGEMENT FEATURES

The vendor noted that company dashboard functionality will be available in its spring 2011 release. Users can review different budgeting scenarios for accuracy, saving those same scenarios when necessary. AccuFund contains default screen-level (password-protected) security, with more advanced security options available in the professional version, such as area security, with system access defined by system function. AccuFund also contains an Expense Control feature that is designed to work with AP, Purchasing, Requisitions and JE functions. Spending limits can be imposed and warnings given if limits are approached. The Outreach Suite provides an easy way to handle fundraising activities. In addition, collections and fundraising information can be tracked through the AR module, and document images can be attached to any system transaction. 4.5

FINANCIAL STATEMENTS & REPORTING