AccuFund Inc. — AccuFund Accounting Suite

From the Oct. 2007 Review of NFP Accounting Systems

AccuFund Inc. offers financial and accounting software solutions for nonprofit organizations as well as government entities. The latest release of the AccuFund Accounting Suite (Version 3.5) contains many enhancements to the core product.

The main screen contains a dropdown menu bar that provides access to system functions. Directly below is a button that lists all installed system modules. Choosing a module will update the toolbar directly to the right of the module button. AccuFund offers several different methods to set up system account numbers, including Linear, Linear with Dynamic Elements or Tabled Element Values. Users can review the data that was previously set up by opening a browse window. This allows users to view detailed information in the system, export data to third-party applications, insert or change previously changed data, or use the import wizard to easily retrieve data from outside sources. Data-entry screens contain numerous tabs with extensive options in each, so it would be wise to become familiar with the data-entry screens prior to use. Lookup options and data calendars are available in the appropriate fields, and data can be easily edited, deleted or added from the same screen.

AccuFund is available in two versions: the Standard Edition and the Professional Edition, which also provides additional features including Cash Drawer Security, Back Access Security, Expense Control and Forms Access Control. AccuFund’s core application comes with GL, AP, Bank Reconciliation, Cash Receipting, Forms Designer, Financial Report Designer, Import Capabilities, Full Security System and Multi-User Access. Optional modules include AR and Inventory, Payroll with Labor Distribution, Purchase Orders and Inventory, Budget Development, Online Requisitions, Loan Management, Custodial Checking, Advanced Printer Control, Human Resources, Time Entry, Fixed Assets, Allocations Management, Grants Management, Utility Billing, Utility, Utility Work Orders, and Business License and Sales Tax. Flexible pricing levels and the addition of the AccuFund Hosted Solution provide scalability for organizations of all sizes, and modules can be added at any time.

Version 3.5 contains numerous system enhancements to the core accounting system. The new Budget Development module assists users in developing budgets using historical data. Both the Requisition and Purchase Order modules have been updated, as well. Account structure is extremely flexible, allowing the use of up to 256 alphanumeric characters and unlimited segments when creating an account structure.

You can store an unlimited number of years of financial data with the ability to enter data historically if needed. Funds remain in balance using the automatic due to/due from function found in the GL module. Multiple funds and multiple years can easily be managed. The optional Allocations Management module allows users to allocate expenses to multiple departments and funds or allocate costs directly to labor or revenue and endowments. The Requisitions Management module enables users to keep a handle on internal requisitions, which allows for multiple levels of approval electronically.

The AccuFund Financial Report Writer provides the specialty reports needed by nonprofits. Sixteen sample reports are included, all of which can be customize to suit the user’s needs or reports can be created from scratch. A drilldown function allows for access to original source information. Graphics such as images, lines and columns are easily added, and all reports can be previewed, printed, saved as a PDF or HTML file, or e-mailed directly from the print screen.

The Forms Designer allows for the customization of any of the forms an organization uses, including invoices, statements, letters, thank you cards and receipts. AccuFund also produces FASB, GASB and other required financial statements.

Purchase of support, maintenance and system enhancements is required the first year, and is available for 25 percent of the retail list price of the software purchased. Support contracts renew annually and include telephone, e-mail and remote desktop support. All system documentation and Help system assistance has been updated to reflect current updates.

Training options include onsite training from either resellers or corporate staff. A user boot camp and report training classes are usually held three times per year at various locations, as well.

The Professional Edition of AccuFund Accounting Suite costs $6,595 for a single user. A license for three concurrent users costs $8,995. The Standard Edition is $2,995 for a single user and $6,495 for three concurrent users. The hosted version costs $434.75 for a single user per month for the core system, with additional modules costing extra. Special pricing is also available for larger organizations with 25 or more users. Flexible pricing, scalable architecture and numerous deployment options make AccuFund an excellent nonprofit financial product for organizations of all sizes.

2007 Overall Rating: 4.5 Stars