2013 Review of CYMA Not For Profit Fund Accounting
May. 27, 2013
CYMA Not For Profit Fund Accounting
From the June 2013 review of non-profit accounting systems.
Best Fit: CYMA is a comprehensive financial management system designed for mid-sized nonprofits and government entities that require scalability, customization, and solid reporting.
- Excellent customization capability
- Streamlined data entry options
- Strong budgeting capability
- Grant tracking option available
- Users can purchase modules as needed
- Can be expensive depending on user/module numbers
- Set up can be time consuming
No stranger to the nonprofit world, CYMA has offered software solutions to nonprofits since 1980. CYMA is modular in design, offering a flexible, scalable product, with users able to purchase the modules they need, and add the rest at their convenience.
BASIC SYSTEM FUNCTIONS: 5 Stars
CYMA is available as a desktop system, or as a hosted system. Product installation is straightforward, and those choosing the hosted system will not have to install the product at all. CYMA uses the System Manager module to control all system navigation, with the eDesk function providing users with the ability to customize their workspace.
The addition of the Control Center allows users to access modules from a central location, with the ability to add frequently used functions to the Favorites section. Users only see installed modules, and the Popular section automatically displays users frequently used functions for easy access. Users can easily switch between modules and display a Workflows screen, which provides access to functions within the module.
Data entry screens have look up options and function tabs at the bottom of the screen for easy processing. The addition of the Quick Entry Transactions function allows users to enter multiple receipts, JE’s, disbursements, and electronic payments using a single grid, making the process much more efficient. The reference section contains an excellent selection of tools for new users, including the Getting Started function, Tutorials, and Technical FAQ’s.
CYMA offers a good selection of modules, which include GL, AP, AR, After the Fact Payroll, CYMA Alerts, CYMA Business Insights, Employee Self Service, Grant Tracking, Project Tracking, Purchase Order, Sales Order, along with product add-ons such as State Payroll Forms, Disaster Recovery, CYMA Managed Backup, and the MICR Check Package. While the System Manager module is required, all other modules can be added as needed.
CORE NFP/FUND ACCOUNTING CAPABILITIES: 4.75 Stars
CYMA offers users a flexible account structure, with users able to utilize up to 24 alpha-numeric characters and up to 10 segments for each account. Account sub-types can also be used for more customization and tracking capability. CYMA easily processes multiple transaction types including QuickPay, which processes invoices and prints checks from one entry screen.
Cash receipts, disbursements, and electronic payments can all be entered from a single grid entry, saving a lot of data entry time. Purchase orders and inventory adjustments can also be processed in CYMA. The new Advanced Budgeting option enhances already strong budget capability, allowing users to freeze original budget amounts for future reference. Budget transfers and adjustments can now be made using the same budget grid, and users can also import budgets from spreadsheets if desired. Donors can be tracked in the Customers option in the AR module, or users can use Donor Express, a third party application that integrates with CYMA.
Grant tracking is available in the GL module, with users able to configure grant information and track funding sources, while also setting up and maintaining grant budgets and expenses against each grant. Funds are balanced automatically in CYMA, using the Due to/From accounts feature with users able to manage multiple projects and programs over several years. Each fund, grant, or project can be closed individually, and CYMA offers users excellent audit trail functionality, providing detailed information on all system transactions as needed.
CYMA’s AR module allows users to provide customers with electronic invoices and electronic payments can be easily processed through the AP module and the new AR EFT option allows users to receive payment quickly by automatically drafting customer accounts.
MANAGEMENT FEATURES: 4.5 Stars
The CYMA Calculators provide quick access to vital data including a Breakeven Analysis, Cash Flow, Financial Ratios, and Inventory Analysis. Budgeted amounts can be tracked in AP, with invoices able to reference budgeted amounts during data entry, ensuring that invoice totals do not exceed budgeted amounts.
Users can also review a related budget during invoice entry as well. Budgets can also be imported from spreadsheet programs, or users can use the Quick Budget entry option to quickly enter budget amounts on the fly, and add the rest at a later date. The AR module easily tracks outstanding balances through the invoice status feature, and unapplied payments can be easily posted to outstanding balances as well.
Fundraising capability would be provided by Donor Express, which integrates with CYMA and provides users with the ability to manage donations and any related data. Users can also attach relevant documents, spreadsheets, and images to data files as needed.
FINANCIAL STATEMENTS & REPORTS: 5 Stars
CYMA contains 100’s of standard reports that are fully customizable. CYMA also integrates with Crystal Reports and F9 Financial Reporter for further customization if desired. Reports are easily produced for each individual grant, project, or program, and budget reporting is extensive as well. FASB 117 Financial Statements are easily processed in CYMA; including Statement of Activities, Statement of Financial Position, and Statement of Functional Expenses.
The Grant Tracking feature, found in the CYMA GL module provides excellent grant tracking and reporting functionality across multiple fiscal years. All CYMA reports can be viewed on screen for review, printed, or emailed. Reports can also be exported to Excel, Word, HTML, XML, PDF and RPT formats as needed.
INTEGRATION/IMPORT/EXPORT: 4.5 Stars
Users can easily import data into CYMA’s GL, AP, AR, and Payroll modules using a CSV format. Fixed assets files can also be imported into CYMA using the import interface option found in the GL. Data can also be easily exported to third party reporting applications such as Crystal Reports. All CYMA modules integrate seamlessly with the System Manager module, increasing product scalability. CYMA also integrates with a number of third party applications such as time and attendance, donor management, and product shipping that can be added on as needed.
HELP/SUPPORT: 5 Stars
CYMA offers a variety of tools for new users including the Getting Started feature and the New in CYMA, which details all of the new features and enhancements in the latest version. Tutorials are also available for new users to become accustomed to the product, and the help function provides answers to basic system questions.
The CYMA website, easily accessible through the eDesk, provides additional user tools including the knowledgebase, and the online learning center. Users can also log in to download any system updates. The purchase of a support contract entitles users to free online training and free training manuals for reference. CYMA offers a variety of technical support options, depending on level of support needed.
SUMMARY & PRICING
CYMA remains a solid nonprofit financial management product that continues to improve with each new release. Ideally suited to mid-sized nonprofits, CYMA modules begin at $645.00 per module with a 3-module system running right around $2,000.00.
2013 Overall Rating: 4.75 Stars
See inside June 2013
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