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NONPROFIT ACCOUNTING SOFTWARE Reviews 21 BEST FIT MIP Advance is a true fund accounting solution well suited for mid-sized nonprofts and government entities that manage multiple f unds and require advanced reporting capability. PRODUCT STRENGTHS • Available as a cloud-based product or installed on-premises • Product ofers a mobile app that allows users to access the system using smart phones and tablets • Excellent selection of fundraising and donor management tools • Available in multiple editions POTENTIAL LIMITATIONS • Product setup time may be con- siderable SUMMARY & PRICING MIP Advance ofers users the fexi- bility of a cloud-based system, along with strong fund management and reporting options. Pricing for MIP Advance starts at $99.00 for a single user and includes GL, AP, Bank Reconciliation, Dashboard, and Export to Excel Only modules. Te Standard Version is $199.00 for a single user and includes all of the above modules as well as Budgeting, AR Reporting, Forms Designer, API, and Import/Export modules. Other variations of this model are available from Abila's website. www.Abila.com BEST FIT AccuFund for Nonprofits offers a variety of deployment options. AccuFund is well suited for mid-sized nonproft organizations and govern- ment entities. PRODUCT STRENGTHS • Bot h on-prem ise a nd on l i ne/ cloud version available • Strong set of core modules • E xcel lent selec t ion of add-on modules • Seamless integration with Sales- force • AccuFund for Nonprof its pro- vides a degree of fexibility in its product oferings, giving users the choice of a traditionally installed product, an online version of that same product, or the cloud-based AccuFund Anywhere. POTENTIAL LIMITATIONS • Purchasing additional modules may dr ive cost out of reach of smaller nonprofts • Tr a i n i n g a n d s y s t e m s e t u p required SUMMARY & PRICING AccuFund is an excellent choice for mid-sized nonprofits that need a scalable product that can be accessed remotely. Te availability of both on- premise and cloud editions allows users to choose the option that would 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. Accu- Fund pricing begins at $2,995 for a single user system with additional modules available ranging from $1,295 to $2,495 in price. AccuFund Any- where starts at $190 for the frst user, with additional users extra. Additional modules range in price from $80 and $110 per month. www.Accufund.com Abila MIP Advance AccuFund for Nonprofts Read the full review and see expanded ratings for this product online at: www.CPAPracticeAdvisor.com/12162284 Read the full review and see expanded ratings for this product online at: www.CPAPracticeAdvisor.com/12162193 5 5 2016 OVERALL RATING 2016 OVERALL RATING All Aboard! Nonproft Accounting System Keeps the Trains Running Managing the accounting for a nonproft group can be a challenge, and in some ways even more challenging than running a business. While there is less focus on achieving a profit, getting the most from revenues is defnitely a priority, and nonprofts also have much more stringent fund management requirements, tracking which projects and activities that specifc funds are used for. Preserving History Those are just some of the challenges that Katharina Root faces in her role as bookkeeper for the New Mexico-based Friends of the Cumbres & Toltec Scenic Railroad. The 64 mile-long, narrow gauge railroad, first built in 1880, is operated for tourism by an interstate agency coordinated by the states of New Mexico and Colorado. The role of the nonprofit group, which is a 501(c)(3) organization, is to preserve, restore and help interpret the historic railroad line as a living museum. To achieve its mission, the group relies on donations from more than 2,500 members around the world, and volunteer labor from more than 500 members who come to Albuquerque each year for work sessions. Te work can be tedious, such as scraping and refurbishing boxcars, and some specialized work, like rebuilding 100 year-old steam engines, must be contracted out. "People come from all over the country, many are railroad or history bufs, others are interested in helping the community," she said. "Tese folks rock, and spend countless hours and do amazing planning and work, and our board of directors, who are leaders in industry, are devoted to our mission." One of the major projects the group recently fnished was the total restoration of Locomotive 463, which is registered as a National Historic Place. Te steam-pow- ered locomotive was built in 1903, and was later owned by actor and country singer Gene Autry. Te group also recently renovated a post office boxcar, including a kitchen, stove and bags for mail. Before AccuFund Katharina, who runs an accounting practice in the area, works for the Friends of the Cumbres and Toltec part time, while also serving her mostly small business clients in the area. When she started managing the finances for the nonprofit about 17 years ago, the group was using an off-the-shelf accounting system that she said was limited in its capabilities. "We really needed a system with true fund accounting capabilities, beter reporting, and the ability to track by asset across multiple projects and multiple levels," she said. "Nonproft accounting has more complexities than for-proft business accounting." Katharina has to track a budget of more than $635,000 with more than 60 restricted funds, such as specifc projects that a member has made a donation for. Te group also receives some grants. With her experience in accounting, she knew what the group needed, and she said that when she found Accu- Fund, and the CRM product that goes with it, she knew it would be a perfect solution for the organization. With the help of David Williamson, a local technology consul- tant, they were able to map their accounts and set up all of the features in the program, including importing existing vendor fles, donors, projects and the balance sheet. Life with AccuFund Since the transition to AccuFund and the CRM fundrais- ing system, Katharina says that preparing information for their annual audit is easier than ever before. "Our level of accuracy has increased by using AccuFund and we've had the most successful audit preps the last two years. I no longer feel anxiety about getting ready." The system's multi-segmented chart of accounts and report- ing on those individual segments has also made a real difference, she said. "Tere were reports that used to take a day to set up and run, and now they are on-demand and I can run them in seconds, and this saves time and stress." She also notes that the overall level of accuracy is much beter, making it easy to know a fund balance at any time. "AccuFund is more powerful and accurate, and has made my job easier, which makes our nonproft stronger and more able to fulfll our mission." Read the 2016 review of AccuFund at www.CPAPracticeAdvisor.com/12162193.