NPO Software Measures Up
By Roberta Jones, CPA, Ph.D.
The Journal of Accountancy, the prestigious publication of the American Institute of Certified Public Accountants, recently reviewed twelve fund accounting products. Donald R Frey & Company’s BUCS Fund Accounting System was included the review. Five others opted out. Four others were too specialized to be included in the review. While the products were not ranked, the evaluation did assess the products’ inventory of what it considered to be the more important features. Below is a sampling of comments about BUCS.
“Very strong budget controls that can be customized; makes software well-suited for both government and nonprofits.”
“Pooled cash account allows a user to eliminate the need for ‘due-to/due-from’ accounting when using one checking account.”
GASB and FASB reports: “Except for Frey, none of the products produces a true statement of cash flow.”