2013 Review of CYMA 13: Financial Management System

• Good customization options
• Support for consolidations of multi-division/location entities
• Good reporting, customization, batch options and financials generation
• Comprehensive modules with direct integration
• Export to many file formats

Potential Limitations

• Module-based system
• Live support not included in pricing
• No online file sharing or portals

From the February 2012 review of Client Write-Up systems.

The CYMA Financial Management System, on the market for 17 years and having gone through 13 major versions in that time, provides a comprehensive accounting and business management program with modules, utilities and tools focused on managing small and mid-sized enterprises. Modules include GL, AP, AR, live and after-the-fact payroll, bank reconciliation, job costing, grant tracking, inventory, HR tools with employee self service functions, project tracking, as well as sales and purchase order management. This review focuses on the system’s write-up centric modules. A version of CYMA is also available for non-profits.

Basic System Functions: 4.5 Stars

The eDesk is CYMAs primary interface, providing a home page with multiple customization options. Built on an HTML platform and with a very web browser-like feel, it can also be used as firm or business’ intranet, with options for custom branding the interface, and the ability to show company news and information, display a user’s pending tasks and alerts, or show their calendar. Users can also add “favorites” to external websites or to program functions.

Initial setup of clients and data importing is guided by wizards, and users can select from chart of accounts templates for common industries, can create custom charts, or copy from existing clients.

Work screens in CYMA use a more traditional interface, with primary system areas like the Workflow and Control center screens giving users access to modules and client data. The program has selection screens for clients, vendors and employees that are displayed in spreadsheet views with search, filter and sorting options. Data entry screens also include smart entry fields and selection lists. The program stores client data in a Pervasive database, and a run-time version of that database system is included with CYMA licenses.

Core Write-Up Features: 4.75 Stars

CYMA’s GL module includes options for consolidating GLs of companies with unlimited levels, and options for combining selected accounts in summary or detail. Account structures for a parent entity can vary from its original sub-entities, and multiple child entities can be mapped to a parent company account.

The system supports any number of customizable journals, and has options for automatically recurring transactions, and for allocated and automatic reverse posting. CYMA can track any number of historical years, with as many as 14 budgets per account. Accounts can also be created on-the-fly during journal data entry. Within journal screens, descriptions, account types, sub-types and user-defined segments can be customized.

The program includes drill-down functionality that lets users move quickly from the GL, payroll, financials and other reports to their transactions and journal entries. Business analysis features include calculators and financial ratios that are accessible from the user’s home page. These include cash flow, business valuation, buy versus lease comparisons, amortizations, breakeven analyses and working capital needs.

Live and after-the-fact payroll processing and compliance are available via separate modules, and offer direct deposit with multiple employee accounts, total customization of employee pre and post tax deductions, third party payments, unemployment insurance and accruals management. Withholding rates for federal and all states are included with annual pricing and are updated quarterly. Payroll tax and employment reporting options for federal and all states are included, including generation of W-2s and 1099s, and the 940 series.

The reconciliation module includes an integrated register that has more than 100 customizable data fields, plus tools for verifying and clearing transactions individually, by date, check number ranges, deposits or credits. The module allows management of any number of companies and subsidiary divisions posting to single GLs, with any number of accounts, records or contacts. Additional reconciliation functions provide importing of bank statements from common file formats. The latest version of CYMA’s reconciliation module includes an After-The-Fact Quick Transactions dialog that lets users quickly clear a variety of transactions in the same grid, including journal entries, disbursements, electronic payments and receipts.

Accounts payables management functions are found in CYMA’s AP module, which provides tools for invoice and cash processing, along with check writing functions with a MICR printing option that can print to plain or preformatted check stock. The system can manage multiple accounts per client, and offers logo and electronic signature printing. Users can also attach documents, images and other fillies to transaction records (such as invoices or warranties). Outgoing EFT payments can also be supported.

Reporting & Financial Statements: 4.5 Stars

CYMA has more than pre-built reports, including full and customizable financial sets that offer live dynamic synching with the program and drill-down functions when viewed on-screen. Reports can be customized with a built-in report writer, or can be saved to Word, Excel and Crystal Reports for more extensive modification. CYMA can also save reports to PDF, HTML and XML for digital storage and export.

In addition to reporting functions, the AR module includes multiple invoicing and client communication templates. Users can attach digital documents to files, create recurring invoices, or email invoices and statements to clients directly from the program.

Import/Export/Integration: 4.5 Stars
The module based system saves data in a single, shared database and each module integrates with the others via the core System Manager. Data can be imported from CSV and Excel formats, which allows import from most time clock and payroll systems. The system can export data to CSV, XML, Word, HTML, PDF and text formats, which allows data transfer into most tax systems. CYMA has direct integration with the TaxWorks professional tax program.

Other features include employee payroll and HR self service through an optional module, but no client collaboration portals or online sharing tools are available.

Help & Support: 4.5 Stars

CYMA’s built-in help functions includes an indexed utility, right-click menu options, task-sensitive help, a built-in reference manual and links to the company’s website. Online support functions include a knowledgebase, tutorials, update center and links. Live technical support is free only during initial implementation, after which it is offered for a fee on a per-use or subscription basis. Users that subscribe to Software Maintenance Program have additional support options through an Online Learning Center with web-based classes and training resources.

Summary & Pricing:

The CYMA Financial Management System provides a strong multi-client or in-house financial management system, with key modules designed for managing even complex business organizations with consolidated sub-entities and multi-divisional enterprises. Pricing for the system is dependent upon specific modules and the number of users.

2013 Overall Rating: 4.5 Stars