Ellucian Banner Finance vs FastFund Accounting
Ellucian Banner Finance
ellucian.comFastFund Accounting
araize.comSide by side
| Figure | Ellucian Banner Finance | FastFund Accounting |
|---|---|---|
| Price from | £27,916.67/mo | $22/mo |
| Free plan | — | — |
| Free trial | — | Yes |
| Open source | — | — |
| Web | Yes | Yes |
| iOS | Yes | — |
| Android | Yes | — |
| API | Yes | — |
| Plans published | 2 | 10 |
| Spec score · Accounting software | 8.7 (#7) | 8.1 (#24) |
| Spec score · Fund Accounting Software | 8.6 (#11) | 8.2 (#21) |
| Founded | 1986 | 1984 |
| Headquarters | The company lists Reston, Virginia as its corporate headquarters. | Chapel Hill, North Carolina, United States |
| Purpose | Banner Finance provides higher education institutions with real-time access to financial data, from procurement and accounts payable to sponsored research and endowment management. | FastFund Accounting is nonprofit accounting software for managing funds, grants, programs, departments, budgets, and financial reporting. |
Plans
Ellucian Banner Finance
- Banner SaaS Platform£335,000 a year
- Ellucian Banner FinancePriced on request
FastFund Accounting
- Standard$50 a month
- Premium$110 a month
- Accounts Payable add-on$22 a month
- Accounts Receivable add-on$22 a month
- Direct Cost Allocations add-on$22 a month
- Multi-User (2) add-on$22 a month
- Purchase Orders add-on$22 a month
- Fundraising Bundle add-on$25 a month
- Indirect Cost Allocations add-on$40 a month
- Multi-User (5) add-on$40 a month
In their own words
Ellucian Banner Finance
Ellucian Banner Finance is a cloud financial management system for higher education institutions. It covers procurement, general ledger, finance operations, accounts payable, fixed assets, internal stores, journal entries, budget development, sponsored research accounting, endowment management, and accounts receivable. The Research and Grants module supports grant work from initial proposal through project close, consolidates grant information, produces federal reports including the Federal Financial Report, and provides a grants ledger that can operate beyond fiscal year end. Staff can use My Finance Query for spend analysis dashboards, saved queries, and query sharing; My Requisitions to create and track requisitions; and My Journals to manage journal vouchers. Secure mobile access provides financial information and personalized self-service views, alongside web access. Listed integrations include Ellucian Spend Management powered by Chrome River, Ellucian Analytics, Ellucian Workflow, Ellucian CRM Advance, and Banner Document Management. The product also provides higher education financial statement reports for GASB and FASB. Pricing is on request; the product sheet does not list a free plan or trial.
FastFund Accounting
FastFund Accounting is web-based accounting software for nonprofits that need to manage funds, grants, programs, departments, budgets, and financial reporting. Its six-segment, user-defined chart of accounts tracks restricted and unrestricted funds as well as grant, program, and project activity. It generates FASB-compliant financial statements, including statements of financial position and activities, functional expenses, and cash flow, plus data for IRS Forms 990-N, 990-EZ, and 990. Bank integration uses Plaid to retrieve data daily from institutions in the United States and Canada. Reports export to Excel, CSV, HTML, and PDF, and an audit trail is included. FastFund Online runs in a browser on Windows, Mac, and other devices. Standard costs $50 a month; Premium costs $110 a month. The license includes unlimited telephone and email support.