Microsoft Integration

TANGICLOUD’S FUNDAMENTALS
Nonprofit & Government Fund Accounting Software

Are you drowning in a sea of spreadsheets to balance your funds and track restrictions? Are you struggling with costly, time-consuming audits? Are you frustrated in trying to allocate expenses across funds, grants, programs or projects? Tangicloud’s Fundamentals software verticalizes Business Central for nonprofits and governments and provides advanced fund and grant accounting features. Together, Business Central and Fundamentals will empower you to manage your organization more effectively with the latest cloud computing technologies.  Here are the features you can count on:

FUNDAMENTALS CORE APP FOR BUSINESS CENTRAL:

The core App is priced by named users and delivers a full suite of industry-specific functionality, built on top of the world’s #1 middle-market ERP software platform – Business Central. Some standard features are:

ALLOCATIONS

No nonprofit or government fund and grant accounting software should operate without the ability to allocate across funds, accounts and dimensions like programs, projects, grants and departments. With Fundamentals, you can allocate funds at a detail line level in real-time.  This allows you to manage your budgets and approvals. You can also get detailed financial reports instantly.

APPROVALS & WORKFLOWS

Fundamentals allows accounting users to easily define electronic approval rules for journal batches, purchase/sales documents as well as document lines.

The process of line approvals within your organization enables designated users or groups of users to approve specific lines of information within documents. This automates workflows by focusing on data accuracy while ensuring the smooth flow of documents and information. Line approvals enable actions to be taken on individual lines within a document or journal line. Once all line approvals have been completed, the entire document can be routed for further approvals.

Fundamentals allows organizations to increase their operating efficiencies and to engage all employees in the approval process, no matter their work location.

AUDIT TRAILS

Every transaction in Fundamentals is recorded and preserved, even when fixing accounting errors. This makes your annual audits much easier and keeps your organization at the forefront of accounting best practices. You can drill down to any transaction or document on your books from reports and inquiries, so you always know where your organization stands. Never be at a loss to explain who did what and when, ever again.

BANKS

Manage multiple bank accounts in multiple currencies, with the ability to handle automatic reconciliations, positive pay, electronic payments, direct deposits and check writing.  Manage multiple funds within a single or separate bank account to suit your business practices and avoid “comingling” or creating a separate bank account for every fund.

BUDGETARY CONTROL

Budgets and the weeks of working on them each fiscal year with inadequate accounting software can be painful for nonprofits and governments in managing funds and grants. But not so with Fundamentals.  Our flexible and complete budgeting features include the ability to set up unlimited budgets for planning, revisions and final versions.   Use Microsoft Excel for more “what if” scenarios, and the ability to import/export either full or partial budgets, depending on your needs.

Budget approvals are based on the amount of money you have and are prepared to spend for specific purposes. They are meant to trigger attention and keep your budget safe from accidental over-spending. Once setup and implemented, budget approvals will issue warnings or activate budget controls that will not allow more spending than is planned. Budget control rules will calculate available amounts based on posted commitments, encumbrances, actuals as well as unposted documents and transactions.

COMPANIES & CONSOLIDATIONS

Manage and consolidate multiple companies with different fiscal years and/or currencies that are owned by your primary organization.

CURRENCIES

Do you work with employees, offices, or clients from different parts of the world? We manage multiple transaction, grant, and reporting currencies to provide maximum flexibility when your mission takes your organization across the globe.

CUSTOMERS

Every organization benefits from a well-run accounts receivable system. When you choose Fundamentals, you’ll have that and more.  Whether you want to generate basic invoices or set up automated reminders and recurring invoices, the receivables features are there to meet your needs.

EMPLOYEES

Efficiently manage your organization’s team by grouping and tracking relevant employee information and organizing employee data according to different types of information. Fundamentals stores personal information, tracks job openings in your organization, and extracts a list of candidates for these positions.

EXCEL IMPORT

Accountants will often use Excel workbooks to prepare complex entries or import data from third-party systems like payroll. Fundamentals includes an easy tool that accountants can use to import data from other systems

FIXED ASSETS

Manage your organization’s assets throughout their lifetime, depreciate them according to GAAP guidelines or expense them to grants and projects.

Fund Balancing with Allocations

FUND MANAGEMENT

In Fundamentals, you can set up an unlimited number of funds, but you must have at least one. Each fund should have a distinct purpose and will help explain how your organization’s money is being spent to meet your mission and goals. Your funds, if setup properly, will balance automatically within Fundamentals and will post both the Fund Class and Fund Type into posted GL entries for reporting purposes.

All debits and credits are forced to balance by fund number, creating a separate “balance sheet” within the same company. Funds may also be used for multi-entity balancing (e.g., property, store, etc.)

Balancing can be done using automatic inter-fund (i.e., due-to/due-from entries), or by distributing the control entries based on the revenues and expenses entered on transactions. This distributed method eliminates most inter-fund entries and creates multiple fund entries on Balance Sheet Accounts.

Reliable accounting software for nonprofits and governments needs to comprehensively manage funds and grants.

MANAGING RESTRICTIONS AND RELEASES

Fund Classes are used to map Net Asset Classes based on both internal and external reporting requirements. The list can specify user-defined restriction codes and net asset GL accounts, as well as the external restriction for reporting purposes.

The Fund Class Code is posted to the general ledger for reporting purposes and is also used to post closing entries to the Net Asset G/L Account No. Fund Classes can also be used to post automatic entries for releases from restriction.

INDUSTRY-SPECIFIC REPORTING

For fiscal years beginning after December 15, 2017 organizations following the guidelines of FASB’s ASU 2016-14 only needed to record net assets without donor restrictions and net assets with donor restrictions. Fundamentals can do that. However, if you would like to set your funds in the traditional unrestricted, temporarily restricted, and permanently restricted formats, Fundamentals can help there too.

If you run a government organization, you can set categorize your funds  into General, Special Revenue, Capital Project, Debt Service and Permanent fund groupings. 

Fundamentals is designed to meet your specific Fund Accounting Software needs today, and for years to come. And you can manage and report on these funds with FASB/GASB reporting compliance using pre-packaged Statements of Financial Position, Activities, Cash Flow, and Functional Expenses.

GRANT MANAGEMENT

Fundamentals is also used to define sources of funding from granters. Many special fields have been added to track funding sources, as well as specialized functionality to allow for calculating Indirect Cost Recovery amounts. Grants can also be defined with a Currency Code to enable reporting to funders in their currency.

GENERAL LEDGER

Do you need to keep your existing chart? Want to use an industry-standard definition for your organization? Sure! Create a chart with EIGHT user-defined dimensions and multiple funds and grants for designating exactly where your money is sourced, spent and how it’s reported. Our advanced general ledger also offers allocations, automated due-to/due-from transactions, great budgeting features, and recurring journals. All this with a system designed to handle multiple companies, multiple languages and multiple currencies. This is a CFO’s dream come true.

INVENTORY

With Fundamentals, you’ll be able to track your inventory based on any of the three major methods of accounting for your stock: FIFO, LIFO or Average Cost. Plus, your inventory will be as up-to-date as you need, because all staff can access their data entry functions via the web, and on multiple devices.  As Fundamentals is based on the world’s most successful ERP platform in Microsoft Dynamics 365 Business Central, you can rest assured that you will always be able to manage specialized needs such as tracking memberships, gift shop items, equipment, supplies and other provisioning and sales needs.

PURCHASE ORDERS

Planning ahead is the sign of a well-run organization, and one of the best ways to plan ahead with the detail necessary to avoid negative financial surprises is to deploy solutions with encumbrance accounting in place. No more accidentally spending portions of your budget twice. You create purchase orders and management can approve or disapprove those orders based on the budget available net of requisitions, existing purchase orders and actual expenses.

PROJECT MANAGEMENT

Business Central’s Jobs module can be used to manage detailed project phases and tasks, creating a work breakdown structure to manage construction initiatives, events and program details.

VENDORS 

Manage your payables and expenses, from requisitions through purchase orders and invoices, then finish with your payment cycles.  Fundamentals supplies detailed tracking of commitments through the entire procurement life cycle.  Build great vendor relations by tracking contact information, accounts payable terms and payment cycles, and track by invoice, date, or subject, and even plan your payments as your budget allows.

ADVANCED APPS FOR BUSINESS CENTRAL (extra cost)

If your organization requires a full-blown enterprise solution, Tangicloud has a complete suite of advanced accounting software features for governments and nonprofits. Once you have Fundamentals, you can add these Apps to bring even more power to your solution.

BATCH & LABOR ALLOCATIONS

Calculate pooled allocations as well as labor and fringe distributions on a periodic basis.  Labor allocations also calculate payroll encumbrances to support effort certifications.

LOAN MANAGEMENT

Manage notes payable and notes receivable with system-generated amortization calculations with full integration to banks, AP and AR.

PUNCHOUT TO EXTERNAL CATALOGS

Purchase requisitions and orders may be connected to storefronts like Amazon Business to directly select products. Shopping carts are approved and routed through the complete procure-to-pay cycle.

TEAM APPS FOR BUSINESS CENTRAL

Not everyone in your organization will need to enter and post financial transactions, but you may often have employees that need to be empowered to enter and read data that helps you run your organization better.  These Team Apps will allow your team to help keep operations running more efficiently than ever before:

EXPENSE REPORTS

Employees and volunteers can enter their expenses directly into Fundamentals, saving valuable accounting department time. Expenses can also be imported from Expensify, thus enabling employees to use their mobile devices to easily “scan” receipts.  All expenses can be routed for budget and management approval before being posted for reimbursement via payroll or accounts payable.

REQUISITIONS

With Tangicloud’s requisitions and commitments, your team can request goods and services, and then route planned expenses for approval. Requisitions may be fulfilled via quotes, purchase orders, or from inventory. Requisitions can also be linked to punchout catalogs such as Amazon to complete a shopping experience.

TIME SHEETS

Remove the hassle of paper or Excel time sheets by deploying the Time Sheets function within Fundamentals. Your staff will access Fundamentals anywhere at any time. You’ll spend less time chasing those tardy timesheet submissions and more time enjoying and managing your valuable colleagues. Also, you’ll improve effort tracking against grants, projects, and programs to increase your ability to support audits and funder reporting.

ADDITIONAL 3RD-PARTY APPS FOR BUSINESS CENTRAL

The following features are available to grow your solution to fit your needs end-to-end. Please ask your representative for pricing on these features:

PAYROLL FOR BUSINESS CENTRAL

Primo Payday and Integrity Data offer a truly integrated payroll solution for Microsoft Dynamics 365 Business Central designed from the ground up with one goal in mind, simplicity. A pay period can be run and posted with just a few clicks, and posting setups are flexible enough to handle any payroll requirement. This payroll product delivers exceptional visibility into payroll expenses and how they impact your organization’s net assets. If Business Central is your ERP system, Integrity Data and Primo Payday is your payroll solution.

BUDGETING, FORECASTING AND MODELS WITH DIVERSE DATA TYPES

Solver Budgeting and Forecasting gives nonprofits and governments a comprehensive planning tool to effectively increase operational efficiencies throughout their organizations.  This set of tools not only provides process automation, but also offers time savings and increased accuracy for managing financial expectations for future periods.  Estimate your financial outcomes based on past data on a weekly, monthly or annual basis. Now your organization can enjoy better transparency for all of your constituents right from within a Microsoft Dynamics 365 Business Central experience.

At Tangicloud Fund Accounting Software, we’re committed to customer-driven innovation, so check back here often to see how Fundamentals continues to grow to meet your changing needs.