Probably one of the most significant developments in the field of software-defined multifunction data acquisition systems and devices is the employment of FPGA (Field-Programmable GateArray) technology, resulting in a tremendous digital processing potential close to the I/O pin. FPGA technology is based on reconfigurable semiconductor devices which can be employed as processing targets in heterogeneous computing architectures for a variety of data acquisition applications. They can primarily be characterized by generic properties, such as deterministic execution, inherent parallelism, fast processing speed and high availability, stability and reliability. Therefore FPGAs areparticularly suitable for use in “intelligent” data acquisition applications that require either in-line digital signal co-processing or real-time system emulation in the field of advanced control, protocol aware communication, hardware-in-the-loop (HIL) as well as RF and wireless test. From the perspective of a domain expert however, primarily being focused on developing applications and algorithms, simple and intuitive design entry methods and tools are required that facilitate the FPGA configuration and design entry process. Traditional FPGA design entry methods and commercially available tools assume a comprehensive knowledge of hardware description languages (HDL),such as VHDL or Verilog®, and implement a process or function at register-level. In contrast, graphical hardware description languages for FPGAs, such as the integrated development environment NI LabVIEW® with FPGA module extension, abstract the design process by means of graphical objects, I/O nodes and interconnecting wires that represent the FPGA’s IP and implement processes, timing, I/O integration and data flow. This paper discusses the advantages of graphical system design for FPGAs over text-based alternatives, introduces interfaces for the integration of 3rd party IP, all backed up by a detailed illustration of a COTS FPGA-based multifunction DAQ target compared to a traditional DAQ architecture.