NFP accounting: Better than ever
New regs, expectations place greater demands on nonprofit apps
BY Dave Mcclure
The management of nonprofit organizations is much more complicated than it was just two years ago.
FAS GROUP JOIN FORCES
To begin with, there is a bewildering array
of entities that qualify for the designation of
“not-for-profit,” including government organizations. Add to that the increasing requirements for reporting under FASB 117 and increasing pressure from the public and boards
of directors for greater financial disclosure,
and the demands on an NFP accounting system grow more substantial.
But the most significant change has been
the redesign of the Internal Revenue Service’s
Form 990, the annual report required for organizations to keep their nonprofit status. The
new form has two more pages and 16 extra
schedules covering topics from public charity
status and public support to supplemental
financial statements and information regarding fundraising or gaming activities.
Predictably, however, the eight leading
accounting packages that provide accounting support for this field easily handle these
complications, providing stronger support,
better analytics and better reporting capabilities than ever before.
Here’s the roundup for 2010.
separate programs for FASB/GASB reporting; endowment reporting; the F9 Pro add-in
to produce financial reports in Excel linked
directly to the data in AccuFund; and a loan
tracker for loan management in housing, economic development and other agencies.
The most recent release features enhancements to many of the core modules. With the
AccuFund Accounting Suite Financial Report
Writer and Standard Report Writer, users emailing reports directly from the system can
now break out a specific page or pages in a
report automatically and e-mail the page(s)
to different individuals or the appropriate
manager or department.
The general ledger allocations module now
includes configurable allocation templates
in which users simply complete fields and
create standard allocations forms. Client invoicing, an extension to the client accounting
module, enables agencies to set up the levels
of services or care associated with a client,
and then calculate charges and generate billing automatically. Further enhancements are
also included in the payroll, human resources
and budget development modules.
Available in both a desktop and a hosted
version, AccuFund is notable for both its flexibility and its modular design. Compliant with
both Windows Vista and Windows 7, it offers
a strong and scalable solution appropriate for
a wide range of nonprofit organizations.
exceptional reporting system and the ability
to handle nonprofit organizations that manage multiple funds — each with their own
calendars, accounting, reporting structures
and financial management requirements.
Notable are two special modules, a nonprofit Fund Revenue Center for endeavors
such as thrift stores, mail order and fundraising that offers inventory control, order entry
and AR; and point-of-sale software to manage
retail sales and membership revenues.
The suite enables each fund to have its
own fiscal calendar, separate from the organization’s calendar. It also handles inter-fund
transfers and fund balancing, fully conforms
to GAAP, has multi-tiered security settings, a
protected audit trail, and can produce reports
according to FASB Standards 116 and 117.
CMS Professional 2010 introduces a new
financial dashboard called Cougar Dtails that
connects to a nonprofit’s general ledger data
and presents it from a visual perspective to
present trends and financial health. Other
new features include enhanced filtering using a “contains” option, and the ability to export reports to a CSV file.
At its most basic level, the Cougar Mountain Fund accounting system offers simple
general ledger and bank reconciliation services. Step up to the full suite, however, and
this software offers a wealth of flexible tools
that will fit the needs of almost any size or
configuration of nonprofit.
MIAMI — Microsoft Dynamics GP and
CRM reseller Solutions@MBAF has
combined with Ft. Lauderdale, Fla.-based
Microsoft business intelligence and enterprise consultants The Financial Accounting Solutions Group, consolidating the
staff of both firms into one office.
The FAS Group provides technology
solutions and an array of mergers and
acquisitions consulting services to private
as well as public companies. Their industry focus includes companies in wireless
communication, international health
insurance, IT infrastructure, security and
correctional management, and the entertainment industry.
Solutions@MBAF LLC is the information technology affiliate of accounting
firm Morrison, Brown, Argiz & Farra.
AccuFund is a scalable fund accounting
suite designed specifically for nonprofits. It
includes a core accounting system of eight
functions, and a series of a dozen modular
Core products are the general ledger, accounts payable, cash receipts, bank reconciliation, financial reporting, budget reporting,
user security, and a report and forms designer. Modules expand this core system with capabilities for accounts receivable, purchasing
and inventory, electronic requisitions, payroll, human resources, employee time entry,
allocation management, client accounting,
budget development, grants management,
fixed assets, loan management, and online
requisitions. Additionally, AccuFund offers
CMS Professional 2010
for Fund Accounting
Cougar Mountain Software
CYMA IV Not-For-Profit
FISHBOWL GROWS VAR PROGRAM
CYMA Systems Inc.
SALT LAKE CITY — Inventory control solutions provider Fishbowl has expanded its
reseller program to include options for
Fishbowl resellers and referring consultants to increase revenue streams and
growth opportunities. The benefits of
Fishbowl’s new program include: software
discounts between 30 and 50 percent
on an annually prorated basis; additional
revenue potential from support plans,
consulting, training, implementation and
customization; residual sales credits from
customers that renew annually; and a 10
percent referral commission program.
Resellers can also offer Fishbowl
Inventory’s advanced capabilities to their
customers so they can continue using
QuickBooks as they grow.
Dave McClure is the president of Kent Associates, in Alexandria, Va., an independent
testing laboratory and evaluation service.
The Cougar Mountain Fund Accounting Suite
is a modular system designed for nonprofits
and government entities that need to balance
multiple-fund ledgers or track grants with
comprehensive budget comparisons.
The suite includes modules for general
ledger, AP, purchase orders, bank reconcili-
ation and payroll, plus a universal bridge to
transfer data into the accounting program.
Additional enhancements include a credit
card authorization system for online process-
ing of credit cards, checks and debit cards;
an e-commerce platform; fixed assets; and a
flexible GL report generator. It also offers an
CYMA’s Not-For-Profit Edition Fund Ac-
counting Software is a FASB 117-based fund
accounting system developed specifically for
nonprofit accounting, offering the capability
to track funds, track grants and generate the
necessary reporting nonprofits require.
DYNAMICS VAR REDESIGNS SITE
HARWINTON, CONN. — After several years
of planning, Connecticut-based Microsoft
Dynamics GP reseller CAL Business Solutions has a new Web site focused specifically on helping accounting software
users and buyers in the decision-making
process. The goal of the new site (www.
calszone.com) is to give software buyers
tangible information that will help them to
make informed decisions. In addition to
the expected Dynamics GP overview and
highlights, the site goes into more depth
to show module descriptions, system
specs, deployment options and comparisons to competing products. It also has
demo videos, white papers and more.