BUCS is an acronym for Budgetary Control System, and the name is quite fitting considering that it's a complete accounting system deployed as a single app. Rather than rework an existing commercial product, the developers decided to start from scratch. That gave them the freedom to custom-tailor each feature to the specific needs of fund accounting operations.
As a result, it's totally compliant with all relevant government accounting guidelines.
Who Uses BUCS?
Governmental authorities, non-profit organizations, and education fund managers are among those who've adopted BUCS to manage their fund accounts. Private investors and foundations have also found that BUCS offers a number of features that handle problems unique to fund management.
- General Ledger: Accountants can customize the app's ledger however they'd like. It offers over 80 different items to include on expense and revenue reports. A sophisticated calculator is bundled in, which helps to nearly eliminate the risk of mathematical errors.
- Report Generator: BUCS can automatically create and maintain an unlimited number of reports. Non-profit groups that have to adhere to GASB 34 regulations can rely on the software to comply with these rules. It can create multiple sets of records, which are important for those who need to regularly transfer report sheets to governmental authorities. It can also combine more than one report into a single document.
- Allocation Processor: Fund managers that need to oversee multiple cash accounts can use the allocation processor to ensure that they're distributing money in the most efficient way possible.
- Modular Design: A large number of plug-in modules come with BUCS. Users are free to disable any tools they don't need. They can also download new modules and activate them on-the-fly.
- Grant Tracker: Non-governmental organizations that pay grants to other non-profits need to monitor how their money gets spent. The grant tracking module will keep an eye on third-party accounts to prevent unnecessary expenditures.
- Cash Receipt Journal: Smaller groups that need a way to quickly enter data gleaned from receipts can make regular entries into this journal. BUCS will automatically calculate expenses and store this information.
- Encumbrance Processing: Public school foundations are required by law to comply with encumbrance processing guidelines. This module can automatically ensure that all accounts comply with these rules.
- Bank Accrual & Consolidation: For those working with multiple accounts, interest accrual can be difficult to calculate. It can be even harder to make sure that all checks line up. This module automatically checks that all data is accurate before it's submitted.
- Consolidation: Users who have to manage hundreds of accounts simultaneously can consolidate them based on class and type.
Those looking for free accounting software can download a basic version of the app without a license. Larger groups that need a fund accounting software product with more features can purchase an organizational license by paying a one-time fee. Every BUCS accounting software package should run on any modern Windows-based PC regardless of whether it's registered or not.
Whether you need a solid small business accounting software product or something that's capable of simultaneously managing hundreds of funds, BUCS is flexible enough to tackle all your financial chores.