nonprofit bookkeeping software

If you upgrade to the Gold, Platinum, or Diamond plans, you can even get payroll services for your organization and pay your staff directly through QuickBooks. Your organization may also be growing in size and adding on paid staff members , meaning payroll and time tracking are features you can no longer ignore. Both fund accounting and payroll are pieces of functionality that can be bought as stand-alone or add-on software features to existing accounting packages. Looking for a fully integrated (all-in-one) option will be the better long-term option to avoid integration issues and paying multiple software vendors a month.

Set reports to be automatically created and emailed to board or committee members on any schedule you’d like. QuickBooks Enterprise Nonprofitto easily store and access thousands of donors, vendors, and items. nonprofit bookkeeping You can also set individual user permissions for more than 115 different activities to further safeguard donor data. QuickBooks helps track donations, invoicing, bookkeeping, and all your accounting needs.

Why Do Nonprofits Need Accounting Software?

Aplos is a comprehensive cloud-based fund accounting program for nonprofits and churches. This software has received strong customer reviews across the board from nonprofits around the world. It has a solid reputation in the nonprofit world and for good reason. On the downside, Blackbaud is a bit expensive and complex and requires a lot of training and support to get up to speed on the basic functionality. Just like QuickBooks Online, Wave has no industry-specific features. Unlike QuickBooks Online, Wave can’t separate income and expenses by classes to mimic fund or program service accounting. If you need to track activity for more than one fund or one program service, then you’ll be better off spending money on better software.

When evaluating offers, please review the financial institution’s Terms and Conditions. If you find discrepancies with your credit score or information from your credit report, please contact TransUnion® directly. Daniel Epstein is a senior financial research analyst at FinancesOnline and the architect behind our Fintech and ERP content division.

Best Cloud-Based Solution

Nonprofit+ can be expensive and is not ideal for small organizations. Before committing to the hefty price tag, we highly recommend comparing Nonprofit+ with the other ERPs to ensure that you get the most bang for your buck. Xero offers a solid accounting solution, and with hundreds of integrations, you can fully customize this software to best fit the needs of your nonprofit organization. Xero is a good choice for nonprofits of all sizes but is most beneficial to larger nonprofits that need to add additional users without increasing their monthly costs. These programs offer a wide array of features and are designed specifically with not-for-profit organizations in mind.

With FastFund Fundraising, you can create detailed donor profiles, track cash, pledges, and in-kind gifts, and create customized donor receipts. When bundled with FastFund Accounting, FastFund Fundraising is available for as little as $20 per month, or $42 per month as a standalone product. Financial Edge is a product released by Blackbaud, a leading software company that caters to nonprofit organizations, educational institutions, and healthcare facilities. For smaller nonprofits or nonprofits who are just starting out, you probably don’t need software with as many features as QuickBooks Enterprise Nonprofit.

AccuFund Accounting Suite

Accounting software for nonprofits is a specialty type of accounting software. It performs some of the same functions as regular accounting software, such as income and expense tracking, payroll, and accounts receivable. In addition, it has specific functions designed to help nonprofits with their accounting needs. For example, accounting software for nonprofits will be able to accept and track donations through a portal and keep track of donor receipts. Bill.com is an all-in-one accounting software for small and medium-sized businesses and nonprofit organizations. The software is completely cloud-based, allowing users to view their data from any location. And nonprofit organizations stand to gain from the tool’s multiple capabilities.

  • The 7 Best Free Accounting Software of 2022 We evaluated the best free bookkeeping software by user friendliness, accounting features, customer service, and…
  • It includes volunteer management tools, allowing you to track volunteer hours and create reports by volunteer or event.
  • FastFund Online is the only cloud solution that seamlessly integrates nonprofit accounting, fundraising, and payroll in one system.
  • Integrating these systems makes it easy for your organization to transfer donor information from donation pages to your CRM to your accounting ledger.
  • Nonprofits with multiple locations can set up each location as a separate entity to segregate information.

Users can also find additional features for increased scalability for their organizations, such as Wave Money or Wave Payroll. It provides users with tools specific to nonprofits to help organizations manage their finances better. It also has robust reporting capabilities that allow users to identify an organization’s most significant benefactors. The system can monitor expenses, enabling nonprofits to present accurate reports to their sponsors. Aptean focuses on requirements specific to nonprofits, including being able to handle international projects and currencies, donor rosters, and varying reporting periods.

Best Nonprofit Accounting Software to Try

Driven by donations, nonprofit organizations face unique challenges when it comes to accounting. According to Charity Navigator, Americans donated over $410 billion to charitable organizations in 2017. For NPOs, most operating expenses are entirely made up from funds, grants, and donations.

How do I find wealthy donors?

  1. Start With a Great Donor Database.
  2. Clean Up Your Donor Database.
  3. Perform Prospect Research.
  4. Zero in on Past Giving.
  5. Screen Auction Participants.
  6. Consider Event Attendees.

It offers both on-premise and cloud-based options and even has a mobile app to enable access on the go. Standard features include a general ledger, accounts payable, and budgeting functions, https://www.bookstime.com/ and optional extras include payroll, human resources, and multi-currency functionality. With 25 modules you can choose from, MIP lets you build a solution that suits your nonprofit.

Such tools also help you file proper tax returns to keep your organization’s nonprofit status intact. Zoho Books is well-rounded nonprofit accounting software for nonprofit agencies of any size. Be it a new charitable foundation or a nonprofit with global operations, there are scalable features and pricing models to fit the needs of every agency devoted to a good cause.

nonprofit bookkeeping software

With this information at your fingertips, you’ll be ready to choose a software solution that will help you set up quicker, more accurate finance procedures. If you’re unfamiliar with accounting terms and lingo, we’ve also included a glossary of some of the finance and software terms that come up frequently in this list. To view it, just scroll down to the bottom of this page or follow this link. These features might include a platform to file your Form 990-N or the ability to create custom reports. Xero claims that they are the online accounting software alternative to QuickBooks.

Contacts & Statements

This may influence which products we review and write about , but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. Our partners cannot pay us to guarantee favorable reviews of their products or services. And while the tool itself provides security for various workflow processes, it also tightens the security measure around your signatures and documents. It has 256-bit SSL encryption that prevents unsanctioned access or editing of files. Nonprofits can generate more than their share of paper trail or digital forms, but Yooz is designed to handle all of them.

  • Cloud-based financial management and accounting software FreshBooks is not only for SMBs.
  • The best accounting software for nonprofits should offer nonprofit-specific features like fund-based accounting, donation tracking, and Form 990 generation.
  • You will receive unlimited reporting, beautiful dashboards, and round-the-clock accounting and support.
  • If you’re the treasurer of an organization, you can use the program to manage budgets, handle bookkeeping duties, reconcile bank accounts, and generate detailed reports.
  • In case you are starting afresh as a nonprofit business and wondering how to document funds and expenses meticulously, you probably need to look for an accounting system for your organization.
  • There are also tons of integration options and built-in customer support.

The dashboard has mentions of profit and loss, sales, and other terms not commonly used in nonprofit environments. At this time, there is not a nonprofit edition for QuickBooks Online. Enter a quick Spend Money transaction or a more detailed Purchase Order to categorize and keep track of your nonprofit organization’s expenses.

Xero: Runner-up

There are also tons of integration options and built-in customer support. Because it’s a full ERP, the software is on the expensive side, but for larger organizations that want strong fund accounting, Nonprofit+ could be a good choice.

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