Accounting
2019 Review of Tangicloud for Nonprofits & Government
Apr. 16, 2019
From the 2019 reviews of nonprofit accounting systems.
Tangicloud for Nonprofits & Government was launched in 2016, offering a suite of fund accounting applications designed for mid-sized to large nonprofits that are looking for a more robust fund accounting system. Tangicloud is powered by Microsoft Dynamics NAV as an on-premise solution, or Microsoft Dynamics 365 for cloud accessibility.
Tangicloud offers three product versions for nonprofits to choose from: Essentials, Select, and Enterprise, with a long list of core and add-on modules available. The product allows users to use their current chart of accounts structure or create a custom chart of accounts that can utilize up to eight user-defined dimensions for easy grant or fund tracking. Tangicloud allows users to process multiple transaction types for a single entity or multiple companies including bank reconciliations, human resource management, inventory management, allocations, budgeting, along with standard financial transactions such as purchase orders, cash disbursements, cash receipts, journal entries, and even offers multi-currency capability.
Tangicloud’s Budget feature allows users to easily create an unlimited number of custom budgets, that can be used during the initial fund planning stage, with users able to create final budgets as well. Tangicloud allows users to easily create a separate budget for each grant or fund managed. Users can easily export all budgets to Microsoft Excel to create multiple what-if scenarios. Both full and partial budgets can be imported from or exported to Excel as well, with all budget activities tracked in real time in order to view up to date budget versus actual totals.
Tangicloud’s Contacts with Donation Management feature allows users to easily track donors and donations made, with the ability to classify the donation as restricted or unrestricted as needed. The donation history of all donors can be easily tracked in the system, and pledges, gifts, and campaigns can all be tracked in the Contacts module. Working as a CRM, users can also track detailed information about potential donors as well as current donors. The optional Grant module, found in the Select and Enterprise editions of Tangicloud, allows users to track awards, sub-awards, and contracts. Grants can be tracked in Tangicloud from the initial proposal to any revisions, to the final proposal. The allocations module in the product allows users to allocate across funds, accounts, and even dimensions such as programs, grants, and departments, supporting both fixed percentage and derived percentage allocations. Automatic billing for grant reimbursements is available in Tangicloud as well.
Tangicloud supports multiple funds and multiple companies, with income sources segregated by fund, with the system automatically generating inter-fund balancing entries. Multi-level security is offered in the product, with system users assigned system access individually or assigned to a group that have been assigned similar access permissions.
Tangicloud offers good reporting options, including complete FASB/GASB reporting compliance capability including Statements of Financial Position, Statement of Activities, Statement of Cash Flow and Statement of Functional Expenses. Standard financial statements are also available including Trial Balance, Balance Sheet, Income Statement, Cash Flow Forecast, and other related financial reports. All Tangicloud reports offer drill-down capability, and can be viewed on screen, printed, exported to Microsoft Word and Excel for additional customization, or saved in the application as a PDF.
Standard modules included in the Essential edition of Tangicloud include Allocations, Audit Trail, Banks, Budgets, GL, Multiple Companies, Contacts w/Donation Management, Multiple Currencies, Customers, Employees, Funds, Inventory, Reports, and Vendors. Add-on modules available include Endowments, Expense Reports, Fixed Assets, Grants, Purchase Orders with Encumbrances, Requisitions with Commitments, and Time Sheets. The Select edition allows users to select up to four of the add-on modules while the Enterprise edition includes all optional modules. The product also integrates with Jet Reports designed for the Microsoft NAV market. All Tangicloud modules are designed for complete integration and Tangicloud also offers excellent integration with Microsoft Office applications, including Word, Excel, and Microsoft 365.
Tangicloud offers good help options, with access to Help available throughout the application. Product support can be contacted via toll-free telephone or email. Those interested in Tangicloud should contact the company directly for more help and support options.
Tangicloud is a scalable fund accounting application that is best suited for larger nonprofit organizations that desire a scalable application that offers a wide variety of modules. Tangicloud is available in three editions with the Essentials module currently running $199.00 per month. The product also offers complimentary limited user access for CPAs. Select and Enterprise editions are also available, with users able to request pricing directly from Tangicloud.