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Accounting

2016 Review of AccuFund for Nonprofits

AccuFund is an excellent choice for mid-sized nonprofits that need a scalable product that can be accessed remotely. The availability of both on–premise and online/cloud editions allows users to choose the option that would be suit their organization’s needs. The scalability of the product allows users to start with the core set of modules and add others at a later date. AccuFund pricing begins at $2,995 for a single user system with additional modules available ranging from $1,295 and $2,495 in price. AccuFund Anywhere starts at $190 for the first users, with additional users extra. Additional modules range in price from $80 and $110 per month.

Best Fit: AccuFund for Nonprofits offers a variety of software deployment options. AccuFund is well suited for mid-sized nonprofit organizations and government entities.

Product Strengths:

  • Both on-premise and online/cloud version available
  • Strong set of core modules
  • Excellent selection of add-on modules
  • Seamless integration with Salesforce
  • AccuFund for Nonprofits provides a degree of flexibility in its product offerings, giving users the choice of a traditionally installed product, an online version of that same product, or AccuFund Anywhere, the cloud-based version of the product. 

Potential Weaknesses

  • Purchasing additional modules may drive cost out of reach of smaller nonprofits
  • Training and system setup required

BASIC SYSTEM FUNCTIONS: 5 Stars

All versions of AccuFund are scalable, with users able to add on to the core product at any time. Users can choose to have the product installation on a local computer or network, or access the hosted version of AccuFund Online, or simply access AccuFund Anywhere from the cloud. AccuFund and AccuFund Online offer a core system with the option to add additional modules. AccuFund Anywhere offers only the core modules.

AccuFund offers the same interface no matter which version is utilized, with a drop down menu at the top of the interface screen. Users can easily access any installed modules using the navigation arrow. Feature icons are updated each time a different module is accessed. All data entry screens offer user navigation tools such as tabs to easily navigate through the product. Look up options are available throughout, simplifying data entry.

The core AccuFund System offers GL, Financial Reporting, Budget Reporting, AP, Cash Receipts, Bank Reconciliation, Forms & Report Generator, and User Security System. Numerous add-on modules are also available, including Budget Development, Payroll & Labor Distribution, Grants Management, Human Resources, Fixed Assets, AR with Inventory and Responsible Party Billing, Allocation Management, Purchasing with Inventory, Online Requisitions, Loan Management, and Representative Payee. Two new modules; Entity Consolidator, and Work Orders have recently been added in the latest release, which also contains enhancements in new features in many of the product’s modules. Highly scalable, users can easily start out with the core system and add additional modules as needed. The option to choose from several product deployment options also increases the product’s scalability.

CORE NFP/FUND ACCOUNTING CAPABILITIES: 5 Stars

AccuFund offers an extremely flexible account structure, with the product providing a 255 character account structure that will support up to 99 separate segments, making it easy to track multiple grants, projects, programs or other funds. Users with less stringent need can opt to use the predefined chart of accounts that is included with AccuFund.

The product can easily handle multiple transaction types including processing of journal entries, entering encumbrances, allocations, fixed asset data, inventory tracking and posting of cash receipts. The optional Budget Development module allows users to create a budget at any level, with users able to create new budgets while accessing historical budget data for comparison.  

Multiple budgets can also be created simultaneously, so users can track information from multiple sources such as grants, annual organizational budgets, and program budgets. Program managers and other management staff can create their own budgets, with the ability to monitor all activity against that budget. AccuFund’s Fundraising/CRM module is designed to work with Salesforce to create a complete CRM/fundraising tool.  

To increase functionality, the AccuFund Connector offers real time posting capability between the two products. This connectivity allows users to track all donations, pledges, campaigns, and donor and relation management functions. The Grants Management module helps users manage all aspects involved in grant funding, from initial approval, beginning and ending dates, grant budgets and revisions, and grant reporting. AccuFund also includes an automated Due To/From option that ensures that all fund accounts remain balanced.

The product easily handles multiple year closings, allowing users to post in the following year before prior year is closed. A wide variety of automated and e-features are found throughout the product as well, including the ability to issue electronic invoice payments, accept electronic payments, and the ability to email invoices and statements to donors and customers.  Users have the option to choose between AccuFund Online or AccuFund Anywhere for easy remote system access.

MANAGEMENT FEATURES: 4.75 Stars

AccuFund contains a fully customizable dashboard that users can refresh to display current data. The product offers excellent budgeting capability, with users able to easily create and edit budgets as needed. Users can also choose to lock budgets for security purposes. By using historical totals, users can simply increase budget numbers by a defined percentage, which can be helpful when creating estimated growth based on a percentage.  

System security is multi-level, with security levels set by specific system function. Users can track all grants and programs using the Budget Development module, and the Cash Receipts module manages all accounts receivable totals, including aging and collection tasks if necessary. All statements and invoices can be emailed directly to recipients if desired. The add-on CRM module can easily track all campaign, donation, and pledge details.

FINANCIAL STATEMENTS & REPORTING: 5 Stars

AccuFund offers an excellent selection of reports that can be customized as needed. The Forms and Report Generator allows users to easily create custom reports or customize standard reports to suit their needs. The Financial Report Writer provides users with a series of report templates including Trail Balance, Working Trial Balance, Balance Sheet by Fund, Combined Revenue & Expenses by Fund or by Department, Statement of Cash Flows, and Cross-Year Revenue & Expense Report. Additional nonprofit specific reports can be created as well, with users able to customize the report with logos and images if desired.

All reports can be viewed, printed, emailed to recipients, or exported to a variety of formats including HTML and Excel. An optional Grant Management module contains the ability to monitor each grant from initial proposal to fulfilling report requirements.

INTEGRATION/IMPORT/EXPORT: 5 Stars

AccuFund contains an Import Wizard that simplifies data import from other third-party applications. Data can be imported in a variety of formats including fixed field, text, comma delimited, and spreadsheet formats. AccuFund is a completely integrated system, with users able to purchase the core system and add on additional modules at any time. Accountants can easily access AccuFund Anywhere and AccuFund Online from any location with the use of a login and password.

HELP/SUPPORT: 5 Stars

Help options are bountiful in AccuFund, offering users a variety of help tools including system wizards, webinars, tutorials, and a selection of white papers that can be downloaded. Resellers are available to assist new users with system setup and AccuFund recommends some training for new users. Both web-training and onsite training is available, and an annual support contract is required, and typically runs 25% of the cost of the software. The support contract also includes toll-free support along with any product updates and maintenance.

SUMMARY

AccuFund is an excellent choice for mid-sized nonprofits that need a scalable product that can be accessed remotely. The availability of both on–premise and online/cloud editions allows users to choose the option that would best suit their organization’s needs. The scalability of the product allows users to start with the core set of modules and add others at a later date. AccuFund pricing begins at $2,995 for a single user system with additional modules available ranging from $1,295 and $2,495 in price. AccuFund Anywhere starts at $190 for the first user, with additional users extra. Additional modules range in price from $80 and $110 per month.

2016 Overall Rating: 5 Stars