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Accounting & Audit

2020 Overview of Tangicloud Fundamentals

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Tangicloud Fundamentals

Tangicloud Technologies, Inc.

www.tangicloud.com

877-786-9604

From the April 2020 reviews of nonprofit accounting systems.

Launched in 2016, Tangicloud has consistently delivered comprehensive fund accounting software designed for nonprofits and government agencies. Today, the original program has been entirely rewritten, offering a series of core modules and apps designed to be delivered via Microsoft Cloud.

The new application, Fundamentals, is powered by Microsoft Dynamics 365 Business Central, and it is flexible enough to suit the needs of nonprofits and government agencies of any size.   

Fundamentals core features include G/L, Bank Management, Multi-Currency, Budget Planning & Control, Enhanced Allocations, Commitments/Encumbrances, Purchase Orders, A/P, EFT and MICR Payments, Fixed Assets, Inventory, A/R, Project Management, Workflow with Approvals, Revenue Recognition, and Indirect Cost Calculations. Apps designed for team users include, Timesheets, Expense Reports, and Requisitions. In addition, there are Grant Management, Advanced Allocations, and Procure to Pay apps available, with Labor Allocations and Deposits and Loans due to be released in the fall of 2020.

The changes in Tangicloud and its core product are due to the desire to move to Microsoft’s Business Central Cloud. In the process of updated the deployment method, Tangicloud took the opportunity to enhance the core modules to better reflect the needs of the nonprofit community. These enhancements include the addition of eight global dimensions, an increased number of user defined fields, and improved navigation designed to simplify the user experience.

Fundamentals also includes industry-specific account categories, and the A/P module has seen updates such as a Quick Pay option, MICR check processing and the option to allow early A/P payments. Where users may see the most significant changes is in the reporting module, with hyperlinks now included in all reports, enabling users to drill down to G/L entries. Also new are updated report formatting options, as well as the addition of nonprofit specific reports such as Statement of Activities, Statement of Financial Position, and Statement of Functional Expenses.

Tangicloud has also added a new partner program and is actively helping new partners transition to the program as smoothly as possible.