B2B Payments

AccuFund Adds New Features To Government AP Offering

AccuFund, an accounting and ERP solution provider for nonprofits and government entities, this week announced the launch of new features.

In a press release, AccuFund said its newest version of its Accounting Suite introduces new automated capabilities as well as enhanced data-management functions. Among the updates is the addition of AccuBot, an “Intelligent Automation” feature that interconnects various accounting processes to provide greater insight.

For instance, users can receive alerts when tasks are completed or thresholds are met, and invoices can be automatically generated when a work order is completed.

The company also introduced Business Rules, allowing businesses to customize the accounting platform to meet their own internal controls and needs, including custom vendor onboarding processes.

AccuFund has also added Leave Management, a module for employees to request leave or assets, automatically routing their requests to the appropriate personnel for approval. Finally, the updates also introduce a programs module, allowing non-accounting data to be stored within the AccuFund platform, including deadlines, tasks, documents, and important dates.

In a statement, AccuFund General Manager and Vice President Ian Scotland said the updates are the result of customer feedback.

“It’s important in today’s ever-changing software landscape that our clients and prospects know we are always working to improve the financial/ERP system they rely on,” he said. “In addition to the new modules, thus far in 2018 we have made over 230 enhancements and upgrades to our system.”

In an interview with PYMNTS earlier this year, Scotland pointed to some of the unique challenges of financial management for the nonprofit and government landscape.

“The biggest is the level of tracking [and] reporting they must do on how funds are spent,” he said in January. “For example, when someone buys a cup of coffee from Dunkin’ Donuts, they don’t say, ‘Okay, of this $2.18, I want $1.05 spent on labor, $0.50 spent on coffee beans, $0.25 spent on milk and you can use the rest for overhead. Oh, and by the way, we don’t pay for cups.’”

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