pryme Fund Management

Fund accounting software for non-profit, charities and other fund-based organisations. Manage your funds and grants within your financial system.

fund accounting software

pryme Fund Management

Fund Accounting Software

Fund accounting software for non-profit, charities and other fund-based organisations. Manage your funds and grants within your financial system.

About pryme Fund Management

Based on a dedicated fund ledger, part of the financial system, keep track of your contributors, funds and grants and all related transactions such as commitments, allocations, and transfers.

With full access to data. Dynamic reporting where the user can configure reports such as fund movements and financial reports.

Looking for new ways to improve your fund management and reporting?

Track and register the use of funds and grants, ensuring that they are being used for the intended purpose. Automate and streamline the process of managing grants and funds from approval to compliance reporting within an integrated accounting framework. Automate tasks that may now be spread across multiple systems or a series of spreadsheets. As a result, this allows you to have all the information in one place and to avoid duplicity of data and effort.​

Manage the whole grant/fund lifecycle in a Fund Ledger, which is fully integrated with your General Ledger. Thus, end-to-end grant management in a unified financial system. No matter whether the grants are restricted for a specific action or initiative, or if you receive several funds for one single program. Assign, reassign, allocate and reallocate grants with full traceability and reporting capabilities. Manage programs or projects where there are multiple sources of funding with greater transparency.

Obtain live data reporting on grant allocation with the press of a button. Easily keep track of your spending and make cost projections. Monitor how much funding is left on a certain grant or if there’s been overspending with up-to-date reports. In brief, identify risks and take corrective measures if required.​

Equally important, ensure compliance with easy reporting for audit purposes. Maintain accurate financial records including SOFA and Movement of Funds, and comply with relevant regulations, regardless of the size of your organisation. ​

Feature Highlights

Fund Management

  • Grant & Fund Management
  • Restricted & un-restricted Funds
  • Link Funds to multiple Funders
  • Fund Commitments
  • Fund Documents
  • Post to G/L

Fund Tracking

  • Fund Ledger
  • Fund Ledger entries
  • Fund Commitments
  • Fund (re-)Allocations
  • Fund Usage
  • Fund (re-)Classifications

Fund(er) Reporting

  • Dynamic Financial Reporting
  • Fund Commitment Report
  • Fund Allocation Report
  • Fund Usage Report
  • Fund Movement Report
  • SOFA Report

FAQs

Fund accounting software is used to manage and track the financial performance of a fund or grant. In this case, it ensures that the fund is in compliance with regulatory requirements and generates reports and analytics on the fund’s performance to provide insights for decision making. It helps in streamlining the workflow and in managing the organisation more efficiently.  In any case, pryme Fund Management works for both grants and funds.​

The features fund accounting software should have are grant and fund management in terms of compliance and reporting. On top of that, it should be integrated with your accounting system to streamline your processes.

With a cloud-based fund and grant management software, you can access your data and applications from anywhere and from any device with an internet connection, allowing your team to work remotely. Additionally, they are highly scalable, which means that they can easily accommodate changes in the size and needs of your organisation. On top of that, cloud-based fund management systems are automatically updated and backed up, so that your data is safe and secure. Last but not least, cloud-based funding software is often more cost-effective than on-premises solutions. ​

A good cloud-based fund management software should include granular permission settings for different types of users, as well as data backup and disaster recovery features that ensure that information is not lost in case of system failure.​

Have a closer look at your organisation’s processes and workflows and identify the gaps. In brief, the main goal should be to look for an integrated tool that helps you simplify your processes related to funds and grants reducing the need for duplicate data entry, and thus the risk of error.​

Automating the processes in your organisation will help you be more efficient. Consequently, having one centralised source makes it easier to access high-quality data. Furthermore, with the reporting and analytics features you can generate reports on fund and grant performance, which are difficult to generate with Excel spreadsheets. Cloud-based fund management software is flexible and scalable, meaning that it can adapt to your organisation as it grows. ​

pryme Fund Management can easily be installed for free trial. The installation can be done from Microsoft AppSource, or in Business Central from the Extension Marketplace page.

A subscription-based fund management software can vary depending on a few factors, such as the features and functionality included, the number of users, and the pricing model. A subscription-based model (SaaS- Software as a service) can cost anywhere from a few dollars per user per month to several hundred depending on the features and functionality.

The advantages of using Microsoft-based software are several. Employees are already familiar with Microsoft products, so the adaptation process runs smoother. It can easily integrate with other Microsoft products such as Outlook, Sharepoint and Teams. Having a Microsoft Office subscription can help offset the cost of the software for your organisation. The cloud-based Microsoft ERP Business Central receives regular updates which enhance the user experience. Additionally, your organisation is provided with the security of a large corporation that guarantees that your data is backed up and kept safely and securely. The continuity and stability of the product from the Microsoft side, being this a well-established company with a long history of providing software products, shouldn’t be underestimated. ​

Out-the-box Business Central is not enough for an organisation that deals with grants and funds because it is more focused on financial management, supply chain management and inventory management. In contrast, pryme Fund Management is an add-on built on Advanced Projects that has been specially designed for organisations that receive funds and grants. It adds industry-specific capabilities such as fund management and fund reporting. pryme Fund Management supports the typical processes of your highly-specialised industry.​

pryme Fund Management is an extension for businesses that deal with funds and grants built on Microsoft Dynamics 365 Business Central and Advanced Projects. It can only be built on Business Central. ​

The Statement of Financial Activities (SOFA) Report, also known as the Income and Expenditure Statement or Statement of Activities, is a financial statement that provides a summary of an organisation’s revenues, expenses, gains, and losses over a specific period. It presents the organisation’s financial performance, showing the sources of income and the allocation of expenses during that period. The SOFA report is typically used by non-profit organisations, charities, and other similar entities to demonstrate their financial health and transparency to stakeholders.

A Movement of Funds report is a document that tracks the movement or transfer of funds within an organisation. In the non-profit sector, organisations often have multiple fund accounts, or program-specific accounts where funds are received, stored, and spent for various purposes. A Movement of Funds report provides a detailed record of the transactions involving these funds.

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