Best Accounting Software For Nonprofits
Our editorial team independently evaluates products based on thousands of hours of research. Business News Daily provides resources, advice and product reviews to drive business growth. Our mission is to equip business owners with the knowledge and confidence to make informed decisions. You can only get the 30-day free trial with no credit card required if you want to try QuickBooks. We included user reviews in our evaluation to incorporate actual user feedback. We look at user review websites and assess all the positive and negative comments about the software.
Accounts by Software4Nonprofits services
For instance, tracking donations in QuickBooks is possible through workarounds, but not as straightforward as with a product built for nonprofits. If you choose to use regular accounting software, make sure you can integrate with an app like Donor Receipts or Kindful that provides nonprofit-specific tools. The program is also ideal for organizations that require consolidated reporting, thanks to its consolidation management module, which allows users to merge financial statements across multiple organizations. On the downside, it lacks transparent pricing, is complex, and requires a lot of training and support to get up to speed on the basic functionality. Aplos might be a simpler and more convenient alternative for nonprofits not leaning toward ERP functions.
Proper training ensures your staff can fully utilize the software’s features. Invest in comprehensive training programs to maximize the return on your software investment. Even better, think carefully about the level of support your accounting software options offer before committing to a tech solution. With time-tracking tools and customizable invoices, FreshBooks helps you manage your nonprofit’s finances without breaking a sweat. However, larger organizations with complex financial needs may find it limiting. Multiple organizations and faith-based nonprofits often depend on the ability to raise money and convince donors.
Next Up In Business
- You can set up automated alerts for grant application deadlines and reporting requirements, ensuring that your team stays on top of crucial tasks.
- Xero also excels at accounting basics that can keep your nonprofit’s budget on track, including thorough financial reporting and expense tracking.
- To process a transaction via credit card, you must pay a fee of at least 2.9% plus $0.60 per transaction.
MoneyMinder has a great free tool, but to get the best of the software, you need to upgrade to MoneyMinder Pro, which starts at an annual price of $179. Entry-level plan limits bills and invoices to five and 20 per month, respectively. Easy to share information with your accountant and to find QuickBooks experts and online resources if needed. Donor database collects information like giving history and lets you create groups.
Smaller organizations often opt for QuickBooks Online due to its affordability and user-friendly interface. Larger nonprofits may choose Blackbaud Financial Edge for its advanced features, inclusion in legacy nonprofit software, and nonprofit-specific functionalities. Picking the right nonprofit accounting software depends on your organization’s accounting needs. Large organizations are better off with enterprise resource planning software than small business accounting software and vice versa. It’s essential to go for a solution that suits your size and infrastructure, as not choosing the right nonprofit accounting software could lead to inefficient operations and waste of resources.
Best for Free Basic Accounting Tools
If multiple members of your team need to be using it or if you want elevated functionality, be ready to pay for a higher-tier option. We collaborate with business-to-business vendors, connecting them with potential buyers. In some cases, we earn commissions when sales are made through our referrals. These financial relationships support our content but do not dictate our recommendations.
Regularly review financial reports
This not only helps with compliance but also boosts operational efficiency by identifying trends and improving processes. Keeping an eye on real-time data ensures that organizations can act quickly to maintain their financial health. Nonprofit-specific accounting software offers nonprofits flexibility and accessibility. Keeping best practices in mind allows nonprofit accounts and financial professionals to maximize the benefits of your purpose-built tech solution. OneNFP Financials App bridges the gap between program management and accounting, offering a unified platform for financial oversight and advanced reporting within the familiar Office 365 environment.
It’s the best accounting software for nonprofits that want to grow on a pay-as-you-need basis. Nonprofit organizations need accounting software that can streamline their bookkeeping and simplify special financial tasks beyond the scope of regular accounting software. I’ve made a best accounting software for nonprofits comprehensive review of the 10 best accounting software for nonprofits.
Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain actions on our website or click to take an action on their website. Sign up to receive more well-researched small business articles and topics in your inbox, personalized for you. Prices aren’t published on the website, but you can contact the provider to request pricing information or a customized quote. Integrations include anything you can link with Zapier, although that may be somewhat more advanced. Integrations include other Zoho tools, along with PayPal, Stripe, and WePay.
If you’re looking for a discount on QuickBooks Online (and what nonprofit isn’t?), try TechSoup’s discounted nonprofit technology products. With Funraise’s QuickBooks integration, you can make the most of your online fundraising. Look for automation capabilities to handle routine tasks like transaction recording and financial report generation.
We weigh in user comments and ensure that we agree or disagree with what other users have to say based on our understanding of the software. QuickBooks currently offers a 50% discount for the first three months or a 30-day free trial with no credit card required. Realm is a mobile database and synchronization platform designed to help developers build real-time, collaborative applications.
Rather than depending on a general-purpose business accounting solution with basic accounts receivable (AR) and payable (AP) functionality, organizations prefer using nonprofit accounting software. These include industry-specific functions, primarily fund accounting and the real-time collection of donations. The best accounting software for nonprofits should offer nonprofit-specific features like fund-based accounting, donation tracking, and Form 990 generation. The best nonprofit accounting software streamlines basic accounting tasks, like transaction tracking and invoicing, while meeting a nonprofit’s unique needs. Nonprofit accounting requires specialized tools for fund accounting, restricted funds management, and compliance with unique financial reporting standards mandated by the government. Key focus areas include tracking diverse revenue streams, managing program-specific expenses, and preparing Form 990s.
Is QuickBooks a Nonprofit Accounting Software?
The solution can support tracking budgets by programs or funds, donor management, grant management, financial reporting, bank reconciliations, and more. Blackbaud Financial Edge NXT is adept at grant and fund-specific budgeting capabilities. The platform aids grant management by offering detailed tracking and reporting capabilities, allowing nonprofits to monitor spending, compliance, and performance against specific grant requirements.