One of the manyNetSuite ERP features is an accounting module that is designed for nonprofits. This system is scalable, and therefore, suitable for businesses of any size.
Nonprofit funds are divided into categories based on rules for use, whether they are restricted or unrestricted. Tracking these funds and their requirements can get very complex—very quickly. Xero is a nice option for small to very small nonprofits with no need to manage multiple grants, projects, or funds.
Maybe you mostly need accounting software but want a few nonprofit tools thrown in. Perhaps you want something specific to your industry, such as Breeze. Or maybe you’re ready for a full-fledged fund accounting ERP, such as FundEZ or Nonprofit+. FundE-Z is by far the one of the most complex and developed of the programs on this list.
This is an example of a dashboard within QuickBooks Online being used for a nonprofit organization. The learning curve for Sparkrock is steep, and it’s not exactly intuitive. However, good user documentation and customer support can help flatten the Xero And Nonprofits curve. Users often recommend phasing in the implementation instead of doing a hard cutover. The setup for QuickBooks Premier Nonprofit isn’t the easiest, but once it’s done and the user knows where everything is located, it’s very easy to use.
Xero claims that they are the online accounting software alternative to QuickBooks. Serenic Navigator is also designed to meet nonprofits’ budget, fundraising, donor, and grant management processes. MIP Fund Accounting can change and grow with your organization through your most difficult fund accounting, human capital management, and payroll challenges.
Zoho Books: Best Automation
Look for included functionality or supported integrations with standalone tools likeExpensify. assets = liabilities + equity What matters is that it gets professional help to avoid any oversight.
AccountEdge provides all of the necessary accounting tools your nonprofit needs to succeed including accepting donations, providing donation receipts, recording expenses, and processing payroll. The MIP Fund Accounting standard solution features include a general ledger, accounts payable, bank reconciliation, forms designer, and configurable reports.
Adaptive Insights makes it easy to improve your accounting by helping you successfully forecast, budget, and maintain accounting. This web-based software is ideal for medium to large organizations who already have accounting software but want to integrate more advanced planning, tracking, and forecasting. Accounting Suite by AccuFund offers a comprehensive accounting solution for both nonprofits and government agencies. Providing both on-premise and cloud-based deployment options, you can use this anywhere, and it offers a wide variety of features along with robust reporting capabilities.
QuickBooks does offer nonprofit-specific desktop software that includes some donation tracking features. But honestly, the QuickBooks desktop version isn’t as flexible as the cloud-based version. And QuickBooks itself recommends simply customizing your QuickBooks Online plan instead of choosing desktop software.
In addition, QuickBooks Online offers good customer support and an active User Community, along with paid access to QuickBooks Live Bookkeeping . Aplos makes accepting and managing donations easy with a donation widget, a Smart Donor database, recurring donation options, and donor-specific preferences. In addition, Aplos accepts online donations, and its customizable mobile-friendly donation forms require no programming.
Integration Tools To Enhance Nonprofit Accounting Software
Xero provides a free 30-day trial that does not require a credit card. Intuit QuickBooks is a well-established company with an array of accounting solutions for many industries, including nonprofits. QuickBooks can be a great accounting software choice for nonprofits of any size, with low monthly costs and easy-to-use budgeting tools. QuickBooks syncs with your bank account and offers app integration for PayPal and Square retained earnings balance sheet accounts. One popular option is QuickBooks Online, which is affordable and can handle smaller nonprofit operations with ease. QuickBooks also offers Enterprise software that has many features designed for larger nonprofits, but it is more expensive and may be better suited for a dedicated accounting team. Zoho Invoice is a robust accounting and invoicing software that can serve both businesses and nonprofit organizations.
They have also found occasional issues with reporting, which can be difficult to customize. Users also ask for more flexibility when it comes to reports and data for organizations with more complex operations. Araize offers a free 30-day trial of FastFund that can be canceled at any time.
Xero also offers a free 30-day trial so those interested can try out the product to see if it’s a good fit for them. You may find you don’t need all these features, but this is a starting point for evaluating each option and making choices. And there you have it, our 20 best accounting software for nonprofits. By this time, you should be able to find the right accounting platform for your nonprofit.
What is a non-profit account?
Non-Profit Accounting: Definition and Financial Practices of Non-Profits. A non-profit is an organization whose primary objective is to fill a need of society (as opposed to a regular business, the priority of which is to maximize revenue for its owners and shareholders).
This option is best for nonprofits that require an easy-to-use software option with less training required out of the gate. Your small nonprofit organization has taken off and donors are flocking to your cause. In addition to using the right accounting tools, you should also make sure you’re working with a bookkeeper that understands and has experience with nonprofits. At Business.org, our research is meant to offer general product and service recommendations.
The regular (and free!) updates ensure that your organization is always ahead of the accounting curve. Aplos has 1 GB of storage and maintains PCI compliance in all of their plans.
Have you ever wondered if your nonprofit could make more each year if it was even a little more efficient? With project tracking you can create new projects, records notes and information about the project and manage multiple programs. Team permissions—Set custom user permissions to safeguard donor data.
How do nonprofits cover expenses?
Nonprofit expenses can be divided into three distinct categories: Program, administrative, and fundraising expenses. Program expenses are directly related to carrying out your nonprofit’s mission and result in goods or services being provided.
While their main software solution is desktop-oriented, they offer an optional cloud app for your organization’s on-the-go needs. Nonprofit Plus allows your nonprofit to manage your one-off donations but also has functions to manage your recurring revenue. Because recurring donations provide a consistent revenue stream, the best accounting software solutions for nonprofits will take this into consideration while budgeting. Fund EZ software was written exclusively for nonprofits to automate functions for accounting, fundraising campaign, grant management, and more in real time. Menus and customized toolbars make it easy to navigate this software and quickly access the information your nonprofit needs.
Some users might find the website development feature appealing, along with the online events sign-ups and communication portal. Picking the right accounting software can help take the stress out of bookkeeping and accounting.
And since it is cloud-deployed, you get to sustain connectivity with your teams with the use of mobile devices. You likewise get to make your organization transparent to all stakeholders, which is critical to securing and retaining sponsors and donors. Reporting is also made easier and more accurate using the tool so that you can inform your board on how your organization is faring.
- Plus, specialized Blackbaud consultants can help guide you through these integrations.
- We recommend starting with mid-tiered QuickBooks Online Plus option to access fund accounting needs.
- Financial Edge NXT is a cloud accounting solution for mid-sized nonprofits that is used by over 5,500 organizations.
- The IRS requires organizations belonging to this category to restrict its activities to charitable purposes since the funds are collected from public individuals or other charities.
Certain companies like Xero provide a lifetime 25% discount on any of its pricing plans if you are subscribing as a non-profit business owner. Another good solution, QuickBooks Online, does not have such an offer, but if you start using the software without the free trial, you can save 30% for 6 months. It stores the organization’s bank accounts and credit card information so users can stay up-to-date on their expenses and income. It can be integrated with third-party payment solutions like Stripe and Paypal to reconcile all accounts. The short answer is that it’s a good idea to use accounting software designed specifically for or highly compatible with nonprofits.
Amid the pandemic, few sectors have had it so bad like the nonprofits sector. From donations to unemployment, the figures are gone so low in the valley—with no immediate respite in sight. If you want to explore products with similar features, these NonProfitPlus alternatives are a great starting point. Similar to Aplos, it is surprising that an established brand such as Blackbaud doesn’t include payroll features with this system. All options chosen have a rating of 4.5 stars out of 5 or higher by Capterra software reviewers.
Author: David Ringstrom