TANGICLOUD FUNDAMENTALS FOR
NONPROFITS & GOVERNMENTS
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, powered by Microsoft Dynamics 365 Business Central can empower you to manage your organization more effectively. Here are the features you can count on:
FUNDAMENTALS CORE APP:
The Core App is for graduates of the low-end accounting software packages that abound today. It is a step up to comprehensive fund accounting, improved audit compliance and FASB/GASB compliance at an affordable price. Here’s what you get:
No nonprofit or government should operate without the ability to allocate across funds, accounts and dimensions like programs, projects, grants and departments. With Tangicloud 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.
Every transaction in Tangicloud is recorded and kept, 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.
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 accounts to suit your business practices.
Budgets and the weeks of working on them with each fiscal year, can be painful for nonprofit and governments. 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.
Manage and consolidate multiple companies with different fiscal years and/or currencies that are owned by your primary organization.
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.
Every organization benefits from a well-run accounts receivable program. 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.
Efficiently manage your organization’s team by grouping and tracking relevant employee information and organize employee data according to different types of information. Microsoft Dynamics 365 Business Central stores personal information, tracks job openings in your organization, and extracts a list of candidates for these positions.
For fiscal years beginning after December 15, 2017 organizations following the guidelines of FASB’s ASU 2016-14 will only 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. Within the software you can segregate your income sources by fund and automatically generate inter-fund balancing entries. If you run a government organization, you can set Fund Type to General, Special Revenue, Capital Project, Debt Service and Permanent fund groupings. Fundamentals is designed to meet your specific fund accounting needs today, and for years to come. And you can manage and report on these funds with FASB/GASB reporting compliance using Tangicloud’s pre-packaged Statements of Financial Position, Activities, Cash Flow and Functional Expenses.
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.
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, when staff have access to 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, 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.
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.
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 company-wide priced modules to bring even more power to your solution.
Cover all of your administrative tasks required to track proposals, awards, sub awards and contracts with Tangicloud’s Grant Management functions. Our Grants Management features will make you more competitive for securing grants and managing compliance.
Manage your organization’s assets throughout their lifetime, depreciate them according to GAAP guidelines or expense them to grants and projects.
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 solution 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 budget available net of requisitions, existing purchase orders and actual expenses.
Make your organization more efficient when you replace your paper forms with an accounting software package designed to meet the needs of all your staff. With Tangicloud’s requisitions and commitments your team can request and approve funds based on what’s truly available at the time of request and never go over budget again, without management approval.
Not everyone in your organization will need to enter and post transactions, but you may often have employees that should 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:
Employees and volunteers can enter their expenses directly into Tangicloud, 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.
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.
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 OPTIONAL FEATURES
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:
Primo Payday is the 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 of the mouse, and the posting setups are flexible enough to handle any payroll requirement. Primo Payday delivers exceptional visibility into payroll expenses and how they impact your company’s profitability by item and/or customer. If Business Central is your ERP system, Primo Payday is your payroll solution.
At Tangicloud, we’re committed to software innovation, so check back here often to see how Fundamentals continues to grow with your needs.