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Since nonprofits deal with monetary transactions, they must also abide by financial standards, or they might lose their tax-exempt status. Continue reading to learn more about this and which nonprofit accounting software is there to make your task easier. Nonprofit+ is fund accounting software with many optional modules for nonprofits. These time-consuming tasks, as essential as they may be for funding your charitable activities, also take the focus away from more important actions.

• QuickBooks integrates with many other programs, so you can build a customized solution that suits your organization.
• The reports must always be accurate and detailed enough to ensure transparency and adherence to audit demands.
• Its free subscription gives you access to 1 user profile and one accountant profile.
• Before making a decision, consider whether you need a solution that uses fund accounting.
• Suitable for both novice treasurers and experienced accountants, this free accounting software for nonprofit associations is also easy to use.

Determine if you are likely to be able to afford them and if they include the necessary features your nonprofit needs as it grows. Keep in mind that all versions of the software work only on Microsoft Windows, except for the OnDemand version, which also works on Macs. If you need features like donations tracking, you’ll need to purchase a separate program called Donation, which will cost you an additional $30-$135 per year. Sage Intacct comes equipped with all the features nonprofits need to save time doing administrative tasks so they can focus on more important matters.

Advanced Features & Functionality

It has expanded budgeting capabilities, so you can forecast different scenarios and budget across fiscal years. For large nonprofit organizations that have significant accounting needs as well as employees and a large donor-base, Financial Edge can be an excellent fit and it’s our top choice for large organizations. For large organizations that want enterprise-level accounting, Financial Edge is the clear choice. It integrates with Raiser’s Edge, a program of choice for donor and constituent management, and allows you to track expenses and budget across fiscal years.

The editorial content on this page is not provided by any of the companies mentioned and has not been reviewed, approved or otherwise endorsed by any of these entities. Read our comprehensive QuickBooks nonprofit bookkeeping Online review to learn about all that this software has to offer, or sign up for a free trial to see for yourself. But, don’t feel like you have to take the first software that pops up on your screen!

How to choose the right free accounting software for nonprofits

However, it also includes more advanced capabilities that allow customers to individualize the ERP product based on specific needs. The program enables the creation of configurable dashboards and customized reports. This software is available for deployment both on-premise and through the cloud, making it an effective ERP application for a variety of companies. It offers role-based functionality to protect the security of information and to ensure that employees only access information that is relevant to them and that they should be privy to. Blackbaud has a large range of nonprofit solutions, including their accounting software, Financial Edge NXT.

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 platforms allow organizations to manage many elements of their finances in one place. They even help automate some recurring tasks, reducing the chance of errors and duplication and saving valuable hours each week. Whether you’re creating a new nonprofit, hoping to revamp your financial system, or simply looking to simplify certain tasks such as filing your Form 990, this guide is for you. To help start your search, we’ve rounded up the most popular options to create this list.

Pricing

As an end-to-end option, it connects businesses with suppliers and clients to assist them in managing cash inflows and outflows. QuickBooks Enterprise is an accounting ERP that enables users to hold one million patrons, vendors and inventory items, 100,000 classes, 45 custom fields and no more than 40 users. Capabilities include research and development, supply chain management and real-time financing. FreshBooks is an all-in-one invoicing and accounting software dedicated to small businesses. Custom software solutions save time for nonprofits by performing the exact tasks necessary to run your NPO. Automation tools from these solutions fill out tax forms, track donations, or simply check your bank account all from one source.

It also identifies the right talent, delivers against compliance and financial imperatives and measures KPIs across clients and projects. Netsuite Accounting assists financial leaders in designing and modifying operations by pairing bookkeeping with robust compliance management to increase business performance and close proficiency. Immediate access to information offers users full visibility to study all the nooks and crannies and expeditiously fix issues. Your organization may also be growing in size and adding on paid staff members (rather than being fully volunteer run), 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.

Effective Nonprofit Accounting Software Tools

We’ve done some research for you, and we’re listing the top 4 software and what you need to know about them. Nonprofits can generate more than their share of paper trail or digital forms, but Yooz is designed to handle all of them. It can work with any format of scanned images https://www.bookstime.com/ and files from any operating environment, from PDFs to JPGs. The basic version of MoneyMinder is free, but MoneyMinder Pro is $159 per year and well worth the added cost. Unlike the free version, you can import PayPal transactions, print checks, and store documents.

Fifty-five percent of nonprofit finance professionals say that as their organization grows, it is somewhat to very difficult to make sure that technology will meet their expanding needs. MIP Fund Accounting takes this into consideration and has built a solution that grows with your organization. If you need more help with your small business accounting, download the Beginner’s Guide to Accounting. This free ebook makes accounting simple and teaches you everything you need to know without confusing accounting jargon. Xero’s many integrations and impressive range of features mean that it will likely work well for a variety of business situations. However, as Xero is so scalable, it’s a good match for businesses that are experiencing significant growth or eCommerce businesses that would benefit from the software’s integrations.

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We evaluated each accounting software program based on its features, pricing, ease of use, and customer reviews on Capterra. The fund accounting software provides you with different reports that allow nonprofits to manage their operations. Examples include donation reports, profit/loss reports, transactions reports, and expense reports. Fueled by grants and contributions, nonprofit organizations often face increased requests for accountability and transparency in financial reporting.

QuickBooks Online offers four pricing plans ranging from $30/month to $200/month. The larger the plan, the more features you can access, and the more users you can have. While most customers love this software, some have said they would like to see the reporting module more refined and improved. And many have mentioned they’d love a cloud version of this small nonprofit accounting software. Blackbaud serves a variety of nonprofits, including faith communities and churches, arts organizations, educational institutions, and just about any other type of nonprofit you can imagine.