AccuFund Accounting Suite
9 Reviews 4.5/5 ★ ★ ★ ★ ★A fund accounting suite from i3 Verticals for local governments and nonprofits with payroll, HR, and cloud or on-premise deployment.
Product Overview
AccuFund Accounting Suite is a fund accounting system from i3 Verticals designed for local governments and nonprofit organizations. Its core system covers general ledger, accounts payable, cash receipts, bank reconciliation, financial reporting, and dashboards, with optional payroll and human resources modules. Add-on modules extend the system into budgeting, grants management, utility billing, permits and inspections, fixed assets, and work orders.Pros
- Fund accounting built for local governments and nonprofits
- Add-on modules for utility billing, permits, and work orders
- Straightforward payroll module
Cons
- Implementation and training are priced separately
- Custom reports are difficult to build
- Exporting budget data to Excel is difficult
Target Market
Local governments, including municipalities, counties, and special districts, and nonprofit organizations that need fund accounting aligned with Governmental Accounting Standards Board (GASB) requirements, plus payroll, HR, and public sector modules such as utility billing and permits.Not Recommended For
Businesses outside the public and nonprofit sectors, or small organizations with basic bookkeeping needs that want published pricing and a quick setup.i3 Verticals Company Overview
i3 Verticals provides software for public sector organizations. It acquired AccuFund in January 2023 to add fund accounting to its portfolio, and it continues to sell AccuFund through a network of certified resellers. Its platforms cover courts and public safety, public administration, utilities, transportation, and schools, with software installations across all 50 states and Canada.
Key Features
- Financial Management: A fund accounting general ledger aligned with GASB requirements, with GL allocations, accounts payable, cash receipts, bank reconciliation, and ACH payments and receipts.
- Reporting & Dashboards: Includes a financial report writer, a reports and forms designer, scheduled reports, dashboards, and export to Excel and PDF.
- Security & Controls: Business rules and role-based restrictions limit access by department, bank account, GL account, payroll and HR items, and grants.
- Payroll: Supports multiple payrolls per period, split direct deposit, unlimited earnings codes and deductions, and tracking of non-payroll taxable benefits for W-2s.
- Human Resources & Employee Portal: Manages position control, leave requests, and timekeeping through web clocks and physical time clocks, with an employee self-service portal.
- Budget Development: Builds operating budgets as an add-on module for creating operating budgets, beyond the core budget reporting tools.
- Grants & Program Management: Tracks grant activity and program spending, with security restrictions available at the grant level.
- Purchasing & Requisitions: Manages purchase orders and inventory, with electronic approval routing for re quisitions.
- Accounts Receivable: Tracks open invoices and applies payments as they’re received, with an inventory add-on for organizations that sell stock items. Client Accounting and Client Invoicing are available as separate modules.
- Utility Billing: Offers a utility billing add-on module for municipal utility services.
- Permits, Fees & Licenses: Manages permits and inspections, along with local fees, taxes, and licenses.
- Fixed Assets & Work Orders: Tracks capital assets and manages work orders.
- Payment Portal: Accepts online payments through a pay portal module.
AccuFund Accounting Suite Pricing
i3 Verticals does not publish pricing for AccuFund; costs are quoted based on the modules selected, the number of users, and the deployment option. AccuFund Anywhere, the cloud version, is sold as a subscription, and the on-premise version is a perpetual license with optional annual maintenance and support. Implementation, training, and data conversion are quoted as separate services.
Product Overview
Developer Overview
User Reviews of AccuFund Accounting Suite
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- Municipality
- 1-10 employees
- Annual revenue $0-$1M
They met all my needs
I got a demo of their product, and they met all my needs. They can break down my personal property and real estate billings, which is something I was really looking for in software.
They were the most affordable while bringing the most value
The primary reason we began looking into software is to find a solution where we could scan and attach invoices. Not having this in our previous software was creating disorganization and was time consuming. Accufund allowed us to scan and search our stored invoices, but beyond that provided a consolidated database where we could do payroll, utility billing, and accounting. They also were the most affordable while bringing the most value.
- Health Care Providers & Services
- 1-10 employees
- Annual revenue $1M-$10M
AccuFund was very well presented
Honestly it wasn’t my favorite software. My favorite software was Acumatica but the recurring years price tag was way too high. AccuFund was the best server-based software that fit within our budgetary parameters. Our executive team really didn’t want a cloud solution. Could I push it and sell it? Yeah, probably. But trying to push and sell a cloud solution that also costs an extra $15k/year going forward - that’s a hard sell.
We had a list of stuff we evaluated; basically reporting capabilities, throwdown capabilities, and the look and feel - how user-friendly it was. I would say the person from Accufund we spoke to knows what she’s doing and she could answer most questions pretty easily. Some of the other sales reps for other programs didn’t know their product well enough. They just weren’t good at presenting their solutions.
AccuFund was very well presented. The rep was well prepared and professional.
- Internet Software & Services
- 51-250 employees
- Annual revenue $10M-$50M
Very flexible and complete encumbrance accounting tool
Very flexible and complete encumbrance accounting tool that should meet any government agency or department’s accounting requirements and fit into most every existing process.
Pros
The product was able to allow a client to replace their extensive library of "custom" Excel spreadsheets into a sophisticated application with more controls and budgeting capability. The product implementation and support was outstanding...
Cons
Havn't discovered anything as of date.
- Diversified Consumer Services
- 11-50 employees
- Annual revenue $1M-$10M
Drill down capabilities on reports
The processing of cash receipts and accounts payable automatically feeds into the general ledger. This makes reconciling accounts very easy. It is easy to upload information into these components.
Pros
Drill down capabilities on reports.
Cons
subsytems, like cash receipts and accounts payable do not allow adjustments. Adjustments need to be done through a journal entry. This makes tracking difficult. For example you cannot change the account an invoice has been posted to, in accounts payable. So the next time you look at that invoice you will not know that the account was changed via a journal entry.
- Education Services
- 51-250 employees
- Annual revenue $10M-$50M
AccuFund Accounting Suite Review
Pros
reporting, user friendly
Cons
not able to change descriptions after paying the vendor bill
- Diversified Consumer Services
- 1-10 employees
- Annual revenue $0-$1M
AccuFund Accounting Suite Review
we are currently using the software to help us with the representative payee needs and for that it works perfectly. it does everything that we needed it to.
Pros
multiple banks are very important to us and this software makes that process very easy. also important to us is safety and security unlike quicken and quickbooks I can not delete a record without a record this vastly helps with ensuring that your records are safe
Cons
the reports leave something to be desired
- Family Services
- 51-250 employees
- Annual revenue $10M-$50M
AccuFund Accounting Suite Review
The reporting capabilities are great, but require a fairly substantial amount of training to use to full potential. The grant tracking is exceptional as long as the proper amount of time is invested upfront getting the Chart of Accounts setup properly. It took a significant amount of time to setup/convert and learn the system, but should pay off in the long run.
Pros
Reporting capabilities
Cons
It was a difficult transition from the outdated manufacturing software we were using to this fund accounting software.
AccuFund Accounting Suite Review
AccuFund is very flexible. We are an unusual non-profit organization, and we had a very complex chart of accounts. AccuFund has been able to handle that, and we’ve been able to modify almost everything to help streamline things on our end. I strongly recommend that you consider it in your list of options and have someone provide a demo and discuss with you how AF might be able to make life easier for your accounting staff.
Pros
The payroll has been such an improvement over our last software. I've appreciated that it is very flexible and reasonably intuitive. The A/P allows for bills to be paid by ACH, which was also an upgrade for us. And, like I mentioned, the chart of accounts allowed for great flexibility, which we really needed.
Cons
The biggest disappointment with AF is the document storage. Yes, a picture or PDF can be stored in the system, but the viewing of that item is rather painful - zooming, sliding around, etc. Not pretty. I am really hoping they'll upgrade that in the future because we've decided to forgo using it at this point because it was such a pain to use. The only other areas of disappointment were things that ended up being a little less straight-forward/streamlined for us than we would've liked, such as donor management (we didn't purchase the A/R module or the donor mgmt module, so that's probably our own fault...) and some bugs in payroll.
