2013 Review of AccuFund Accounting Suite for Nonprofits

AccuFund Accounting Suite for Nonprofits
877-872-2228
www.accufund.com

From the June 2013 review of non-profit accounting systems.

Best Fit: AccuFund Accounting Suite for Nonprofits is a fully integrated nonprofit software product ideally suited for mid-sized nonprofits that require program flexibility along with solid accounting functionality.

Strengths

  • Scalable product, with long list of add-on modules available
  • Available in both Desktop and SaaS versions
  • Solid reporting options
  • Extensive list of nonprofit specific modules and features
  • Excellent Dashboard and Employee portal

Potential Limitations

  • Users will need to invest upfront time in training and system setup

BASIC SYSTEM FUNCTIONS: 5 Stars

AccuFund’s Accounting Suite for nonprofits is available in both a desktop version and a cloud-based SaaS version. A logical option for smaller nonprofits that have more complex accounting and management needs, AccuFund offers users easy system navigation, with a toolbar at the top with a drop down menu where users can choose the system module they wish to access. Changing modules will automatically update available toolbar options. Users have the choice of utilizing function icons or use the menu bar that contains the balance of system options.

Data entry screens are easily navigated and have a list of functions related to the specific screen utilized. Look up options are available for all fields, and data entry screens are intuitive, making data entry easy. AccuFund’s core accounting suite includes GL, Cash Receipts, Financial Report Writer, AP, Bank Reconciliation, Forms and Report Generator, Forms Designer, Data Imports and Exports, System Security, User Security, Accounts Table Based or Flat, and Document Imaging and Scanning. AccuFund also offers a long list of optional add-on modules including AR/Inventory, Fixed Assets, Payroll, Purchasing/Inventory, Requisition Management, Human Resources, and Loan Tracking.

AccuFund is available in two versions: Standard and Professional, and with its extensive core modules as well as long list of add-ons, nonprofits can choose the modules they need today and add to their core system in the future.

CORE NFP/FUND ACCOUNTING CAPABILITIES: 5 Stars

Users can define the account structure they need, selecting the structure elements they wish to use, along with the length and separator. Users can use up to 255 alpha numeric characters and can utilize up to 99 segments. AccuFund allows users to create and process many different transaction types including cash receipts and credits, recurring invoices, utility billing, and purchase order requisitions.

The optional Budget Development module allows users to create budgets at any level, and allows users to create multiple budgets simultaneously. Users can easily access historical data, and prior versions of any budgets created. Budgets can be created by period or by grant project, and the budget project wizard guides users through the creation of a new budget. AccuFund’s Budget Reporting Module provides users with solid budget reporting capabilities, including custom formatting and reporting. AccuFund’s CRM/Fund Raising module provides donor and relationship management, pledge management, honor and memorial tracking, and donation tracking.

The optional Grants Management module provides users with a central database to manage all grant related activity including managing all relevant grant budgets and related tasks. An automatic due to/from feature ensures that all program funds are in balance. AccuFund easily handles multiple year end closings, with users able to easily automate the year end closing process. AccuFund also offers a variety of e-features including the ability to email invoices and statements. Users can pay bills electronically and can accept incoming EFT bank transfers for payment posting. The SaaS edition of AccuFund provides users with anytime/anywhere access, and the new employee portal allows employees to manage their timecard, view time sheet data and review and print check stubs as needed.

MANAGEMENT FEATURES: 4.75 Stars

AccuFund offers customized dashboard functionality, with each user able to track up to six categories of data, using datasets. Users can easily access prior year budget details, and all information can be stored online indefinitely. Encumbrance and memo journal entries can also be tracked in both current and prior years. AccuFund offers excellent system security, with managers able to define employee system access within each system component, and feature within that component. Managers can also define system user read, writer, and delete capabilities when setting up the system.

Expense controls can be found in several modules in AccuFund including AP and Requisition and Purchasing modules. AccuFund’s AR module tracks invoice aging, and the optional CRM module tracks all donations and pledge amounts, manages donor data and creates mass emailing to donors or constituents.

FINANCIAL STATEMENTS & REPORTING: 5 Stars

AccuFund contains several tools to increase the efficiency and customization of reports, including the Financial Report Writer, which allows users to drill to specific data in each report. Users can easily customize reports and produce both FASB and GASB reports adding graphical images or organization logos for professional presentation. AccuFund also offers a good selection of default reports that can be easily customized and saved for future processing.

Users have the option to print reports, save as a PDF, email directly to recipients, save as an HTML file, export to Excel, or schedule the report for future processing, with all options available by simply clicking on the representative icon on screen. AccuFund’s optional Grants Management module offers detailed grant reporting, including Grant Revenue and Expense, Grant Task List, and Grant Master List, as well as detailed budget reports for each grant set up in the system.

INTEGRATION/IMPORT/EXPORT: 5 Stars

AccuFund’s Data Import module contains a series of wizards designed to guide users through data import. Data can be imported using a comma delimited format, fixed field, or spreadsheet format. The Data Export module allows users to easily export data utilizing those same file formats. AccuFund offers users a wide variety of add-on modules to choose from, and all add-ons easily integrate with the core accounting system, making it easy to scale the system up as organization needs change. Accountants can easily access AccuFund data remotely using the SaaS version.

HELP/SUPPORT: 5 Stars

AccuFund contains excellent Help functionality in each module and also contains a series of wizards and tutorials making it easy for new users to navigate through the system. Various training options are also available including online/webinar training, on-site training, and a train the trainer option for managers wishing to train employees. Toll free product support is available, with costs running at 25% of the software cost. Software updates and enhancements are also included with the support agreement.

SUMMARY

AccuFund Accounting Suite for Nonprofits is a scalable product well suited to small to mid-sized nonprofits that require excellent donor and grant management capabilities along with solid reporting. A Government Accounting Suite is also available. AccuFund pricing begins a $2,995 for a single user system, with the SaaS version starting at $385.00 per month, with pricing dependent on number of system users.

2013 Overall Rating: 5 Stars

 

 

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