2011 Review of AccuFund, Inc. — AccuFund Accounting Suite for Non-Profits

AccuFund, Inc. - AccuFund Accounting Suite for Non-Profits
877-872-2228
www.accufund.com

From the November 2011 Review of Not-for-Profit Accounting Systems


Best Fit:

AccuFund is an ideal fit for mid-sized nonprofits and government entities that desire a modular design and consistency throughout the program.

Strengths

  • Two versions available
  • Excellent budgeting & grant management capability
  • Easy system navigation
  • User-defined dashboards
  • Solid, customizable reporting options
  • Available as a desktop or SaaS version

Potential Limitations

  • No true donor tracking
  • Built-in fundraising capability limited, but extended functionality offered through third-party hosted fundraising/development product, The Outreach Suite

     

    AccuFund Accounting Suite for Non-Profits offers scalability and flexibility, and is designed specifically for nonprofit organizations and government entities.

    Basic System Functions - 5 Stars

    AccuFund’s installation process can be time-consuming so professional assistance is recommended. However, the product is also available as a SaaS product, which eliminates any installation issues. A standard toolbar assists users in navigation, with each taskbar utilizing icons for quick access to frequently used system functions. Changing the module will automatically update the toolbar options. Data-entry screens are easily navigated and uncluttered, with function options available at the bottom of each screen. Lookup options are also plentiful throughout. The core AccuFund Accounting Suite consists of GL, Financial Report Writer, AP, Cash Receipting, Bank Reconciliation, System Security, User Security, Form Designer, Data Imports and Exports, Accounts Table-based or flat, and Document and Image Scanning. Additional modules include AR/Inventory, Allocations, Fixed Assets, Human Resources, Payroll, Purchasing/Inventory, Requisition Management, Budget Management, and Grants Management. AccuFund is available in both Standard and Professional Editions, offering organizations the ability to expand to a more robust version when needed.

    Core NFP/Fund Accounting Capabilities - 5 Stars

    AccuFund utilizes a flexible account structure, allowing users to utilize up to 255 characters and up to 99 segments when creating organizational account structure. Multiple transaction types can be easily processed, including actual, encumbrance, budget, allocation, revision and closing entries. The optional Budget Development module provides a complete budget history for each organization or branch/location, allowing users to easily create multiple budget types as needed, as well as the ability to edit transactions. The Budget Development module also allows separate departments to build their own budgets, with revisions easily made. Budget reporting options can also be customized. Easy integration with the GL module allows users to enter information while maintaining solid budgeting/accounting capability.

    The optional Grants Management module allows users to track and maintain grant information in one area, including demographic information, financial and funder reporting, and grant application status, as well as the ability to track all grant submissions. Automatic due to/from processing ensures automatic fund balancing, and AccuFund’s GL modules easily support multiple year end closings. An excellent audit trail records all system transactions, including vital data such as system date, system user and system access time. AccuFund also contains excellent e-features with the ability to process EFT payment from the AP module. Electronic banking allows for updating of current bank information on a daily basis, and the SaaS version of AccuFund provides remote access for all authorized users. Invoices and reports can also be emailed directly from the print screen if desired.

    Management Features - 4.25 Stars

    The latest version of AccuFund provides user-defined dashboards that are extremely easy to set up and maintain. A series of dashboard graphs are also available with drilldown access to the numbers behind the graphs. The Budget Development module allows users to enter budget revisions and view changes prior to saving the budget. The Expense Control component maintains complete control over expenditures and is available in AP, Purchasing, Requisitions and Journal Entry functions. AccuFund allows administrators to define system access for each user, including, read, write and delete capability. The Professional edition of AccuFund also contains screen-level security. Standard collection capability is found in AccuFund’s AR module, and potential donors and pledges can be tracked in the AR module. Documents can be attached to specific system files if desired.

    Financial Statements & Reporting - 5 Stars

    AccuFund’s Financial Report Writer allows users to easily customize report headings, rows and columns, and can also create FASB or GASB reports. Further customization options are also available, including the addition of organization logos and other graphical elements. The Reports/Forms Designer allows for the addition of reports, as well as customization of existing reports using included templates. When creating a custom report, users can choose from a variety of system filters. All reports can be saved for future access and edited as needed. AccuFund’s Grant Management module also offers excellent reporting options, including grant budget vs. actual budget, and encumbrance reporting. All reports contain excellent drilldown capability for easy access to originating documentation, and reports can be exported to Excel or CSV file format. All reports can be easily emailed to recipients, and can be saved as PDFs or in HTML.

    Integration & Import/Export - 4.75 Stars

    The AccuFund Data Import function utilizes a variety of wizards that make it easy to import data. Data Export options include exporting data to text, CSV or Excel. As previously noted, AccuFund users can also email reports as needed. AccuFund’s system modules and add-ons are designed for easy integration with the ability to easily scale up to the more robust Professional version of AccuFund if necessary. A series of third-party applications integrate with the core accounting product, as well. Accountants can easily access AccuFund data through the remote access function, with administrators simply assigning the appropriate rights to their accounting professional.

    Help/Support - 4.75 Stars

    AccuFund offers solid Help functionality throughout, with an excellent selection of training modules and PDF reference documents. An annual support agreement can be purchased for 25% of the software cost and includes toll-free telephone support, software maintenance and downloadable software releases. AccuFund now offers both web and live training options and should have a user forum up and running by the time this article publishes.

    Summary & Pricing

    AccuFund Standard Edition is available for $2,995 for a single-user system. The Professional Edition costs $6,595. AccuFund also offers a series of add-on modules for and additional fee. This scalable product is an excellent fit for both small and mid-sized organizations that require solid budgeting, reporting and grant tracking capability.

    2011 Overall Rating: 4.75 Stars

     

     

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