From the Nov. 2009 Review of Not-for-Profit Accounting Programs.
AccuFund Accounting Suite, from AccuFund, Inc. offers a complete financial solution designed for nonprofit organizations and government entities. The latest release of AccuFund (version 3.08) offers several new features along with powerful system functionality that can be easily customized to suit the needs of various types of organizations and agencies.
EASE OF USE/FLEXIBILITY-
AccuFund’s main user interface is contained in the main application window, offering six options: File, Edit, Report, Setup, Window and Help. Directly below is a button that offers access to all system modules, with a toolbar immediately to the right that refreshes upon changing modules. AccuFund’s account number system offers a tremendous amount of flexibility with up to 256 alphanumeric characters that can be utilized. AccuFund’s data-entry screens are easily navigated, with lookup options and data calendars available throughout. AccuFund includes sample data that allows new users to become familiar with the interface, options and functionality prior to using the program in live mode with live data.
Installation should be completed by experienced personnel in order for the program to run properly. If you or your NFP clients don’t have the personnel to dedicate to this, AccuFund offers a hosted version of AccuFund Accounting Suite. This allows users to avoid software/hardware issues while enjoying the same robust product.
AccuFund’s core product includes a long list of modules, such as GL, AP, Cash Receipts, Bank Reconciliation, Financial Report Writer, System Security, Forms Designer, Data Imports and Exports, and Dynamic Elements. Optional modules available include AR/Inventory, Allocations, Human Resources, Payroll, Purchasing/Inventory, Requisition Management, along with a host of notable features such as direct deposit capability, credit card acceptance, EFT payment capability, and a solid user database suitable for users of all levels. AccuFund is extremely scalable, with optional modules that can be added at any time.
The Professional level of AccuFund’s Accounting Suite offers the same modules and features, but contains additional system security options and better system control. With two levels available, AccuFund allows users to scale the system to meet their immediate needs without sacrificing the features they may need in the future.
New in Version 3.08 is a significantly enhanced Budget Development module, which now allows users to base budgeted items on units of service using either a monthly or annual basis. An updated credit card processing function now follows new credit card information requirements. The Client Accounting module now records special relationships between donors, with client/donor demographics available using both standard and user-defined information.
AccuFund allows users to keep an unlimited number of years of financial data, with the ability to enter transactions for any time period. Users can also easily track all budget and actual totals to get and maintain a better handle on expenses. A ‘due to/due from’ feature keeps all GL entries in balance. Users can also enter and maintain an unlimited number of bank accounts. As well, cash transactions can be distributed as accounts receivable payments or as revenue.
The AccuFund Financial Report Writer contains 16 predefined Financial Statements designed specifically for nonprofits and government agencies. New in Version 3.08, the Financial Report Writer can now generate multiple column reports, including the ability to automatically add a column when report criteria changes. The Forms Designer allows users to utilize an existing report as a template, and add things such as graphical images, lines, boxes, shading, and any fonts that are currently installed.
Other default reports are found within each AccuFund module. All reports are easily customizable using the Forms Designer, with the ability to export any report to Excel, CSV or text files.
AccuFund requires the purchase of a Support, Maintenance and Improvements contract for the first year of product ownership, with the cost based on 25 percent of the software cost. All support contracts are renewed annually, with toll-free telephone support, email and remote support included in the price.
Training manuals are loaded on the software and can be printed as desired, and the AccuFund ‘Help’ feature offers valuable information. Training classes are also available, with both Web and onsite training currently available. Regional training programs are also presented around the country, as well as regional user group meetings that run every fall.
The Standard version of AccuFund Accounting Suite is currently priced at $2,995 for a single-user system. The Professional Edition is $6,595. Add-on modules and concurrent user licenses vary in price from $895 to $3,995. Special editions are also available for Enterprise-level users with 25 or 50 user licenses options.
Providing easy system navigation and great scalability, along with required financial reporting capability, AccuFund Accounting Suite is a solid financial product that can be easily customized to suit the needs of nonprofits and government entities.
2009 OVERALL RATING: