AccuFund Review

AccuFund Inc.
Product:
Vendor:
Founded:
Headquarters:
AccuFund
AccuFund Inc.
2001
Needham, MA
Ownership:
Customers:
Deployment Model:
Free Trial:
Private
Unknown
Cloud, On-Premise
No
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AccuFund At A Glance

Good: User-friendly dashboards, custom reporting, top-rated customer service.
Bad: Errors aren't amendable for certain transactions.
Bottom Line: Robust nonprofit accounting software with an extensive range of modules that benefit an organization’s financial management.

Product Overview

AccuFund is a powerful accounting and financial reporting software that helps nonprofit companies and government organizations prepare year-end financial reports, track journal entries, report annual expenses and more. Its core system includes a general ledger, accounts payable, cash receipts, financial and budget reporting, form creation and bank reconciliation. It also contains a range of additional modules, such as purchasing, allocations, human resources, grants management, fixed assets and payroll.

AccuFund’s built-in report designer allows users to produce financial reports and presentations while giving them the ability to classify accounts and customize account structures. The built-in form designer enables each organization to create and customize labels, receipts, checks and invoices the way it wants them.

The software is offered in both cloud-hosted (SaaS) and on-premise deployment versions.

Features

AccuFund comes with a core system and a range of modules that may be installed to meet an organization’s specific requirements. Its features include:

  • Dashboards: The AccuFund Dashboard lets users view the current status of their financial performance in either grid or graph mode and displays multiple data simultaneously. Several modules are supported by the Dashboard, which enables users to concentrate on the aspects of the financial system that are most relevant to them. For instance, if someone wants to see the top 10 accounts receivable clients and cash balances, they can define datasets and insert them into the graph to have that information shown. The Dashboard utilizes a group of tabs to prompt users as they create datasets and helps them through the steps of outlining the graphs.
  • General Ledger: Each transaction from each module is instantly posted to the AccuFund’s General Ledger and is available for reporting. Journal Entries are used to make adjustments. Several budget types (including grant, project and financial) allow users to report directly from the system. Every AccuFund module posts directly to General Ledger. In addition, the software lets users export transaction details to Excel with formulas and formatting added in the totals. Overall, General Ledger generates detailed reports and summary for all years.
  • Forms/Reports Designer: The Forms/Reports is present in all AccuFund components to create new reports and modify the current ones made through the designer. With limited knowledge of both design concepts and a database similar to the advanced features in a spreadsheet solution, a user can modify or add reports in every component of the system. When running reports, a range of filters is offered to narrow the focus. Along with choosing when the report runs, users can change or copy reports, which allows them to create a set of reports for specific needs.
  • Accounts Payable: AccuFund’s Accounts Payable feature offers check writing and invoice management functions. Users keep tabs on invoices payable for each checking account, which allows them to forecast cash flow requirements. Invoices can be recorded as received, with due dates being tracked by the system, for check processing and cash management processes. Each invoice can be distributed to multiple user accounts. In addition, the Accounts Payable supports 1099 information, user-determined laser check stock (including complete check production) and multiple checking accounts.

  • Billing and Invoicing?
  • Budgeting and Forecasting?
  • Core Accounting?
  • Expense Management?
  • Inventory Management?
  • Payroll Management?
  • Payment Processing?

Target Market

AccuFund primarily serves small, medium and large nonprofit organizations and government agencies. Here’s a list of prominent customers:

  • Richmond Jewish Foundation (RJF)
  • The Cumbres & Toltec Scenic Railroad
  • Foxborough Regional Charter School
  • B&B Payee Services
  • The Texoma Community Center
  • Long Wharf Theatre
  • The Music Center Foundation of Los Angeles
  • The Rancho Simi Recreation and Park District
  • United Way
  • BeadforLife

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Implementation/Integration

AccuFund can be implemented as an on-premise or a cloud-based (SaaS) solution.

By default, AccuFund leverages the ASA (SAP SQL Anywhere) database. The system utilizes a client/server stack with the data being managed by the server, and the majority of the activity happening on the customer workstation. When it comes to the operating system, larger server systems require Server 2008 or above. At the client’s end, Windows 7, Windows 8 or Windows 10 should suffice. You can read more about AccuFund’s system requirements here.

For cloud-based usage, the vendor offers AccuFund Anywhere, an industry-rated SaaS financial operations improvement software that enables nonprofits to track and view key performance metrics in a conference or on the go. Plus, web-based training is provided on all upgrades, so key staff members can keep up to date with solution enhancements and leverage the software’s full potential for their organizations. More information about AccuFund Anywhere is available at this page.

AccuFund is supported by experienced resellers nationwide.

Customer Service & Support

Customers can get in touch with AccuFund’s tech representatives by dialing 877-872-2228 or by filling out an online form.

AccuFund provides a yearly contract at 25% of the total expense of its solution for Support, Maintenance and Improvements. The key benefits of this include:

  • Software maintenance when bugs are discovered
  • On-site and web-based training (at an hourly charge)
  • Self-converting software upgrades
  • Telephone support with an 800 number

AccuFund’s resellers are also certified for support, training and installation services for the AccuFund software. Their support services include:

  • Web training
  • Telephone support
  • Remote services
  • On-site services

In addition, AccuFund has a Resources section where users can browse through an assortment of case studies, whitepapers, news articles and more. Users can also download AccuFund’s popular on-demand webinars to learn more about its offerings.

Pricing

AccuFund doesn’t publicly display its pricing information. Contact AccuFund directly for a quote.

Shortcomings

Some users have complained about the inability to amend specific errors. For example, product returns aren’t supported. That means a company cannot conduct negative receiving to match to credit memos. Also, invoice cancellation doesn’t release the receiving.

Screenshots

AccuFund Inc. Screenshot 1
AccuFund Inc. Screenshot 2
AccuFund Inc. Screenshot 3

About

AccuFund Inc. is a leading provider of scalable accounting software solutions for nonprofit organizations and government agencies. Its Accounting Suite meets the industry’s need for accounting software that is more robust than off-the-shelf solutions, yet much more affordable, intuitive and easy to use. Besides the full accounting suite, AccuFund also offers add-on solutions used in conjunction with other enterprises’ accounting software, as well as functionality options suitable for both small and big accounting departments.

The company offers its products through Value Added Resellers (VARs) located throughout the U.S. The resellers offer cost-effective installation assistance and on-site training, which extend to counties, cities, towns and municipalities. In addition, the company provides training and consulting, application alignment, and support services. AccuFund Inc is headquartered in Needham, Massachusetts, with additional offices in Boston and Littleton, Colorado.

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