13 Best Accounting Software for Nonprofit Organizations in 2024

We also tested core accounting software features like expense reimbursement, payment processing, payroll management and financial reporting. We also gathered customer reviews and compared user feedback to see how it stacked up against our testing experience. True fund accounting software is an accounting system specifically designed for non-profits to track funds, programs, grants, and projects. Fund accounting is different from traditional accounting in that it tracks multiple funds and accounts for the unique needs of charitable organizations. This type of software allows non-profits to separate their finances into distinct funds and accounts in order to accurately track and manage spending.

• Stay informed about changes in nonprofit regulations that might affect you.
• The accounting module automates routine calculations and generates reports in an easy-to-use interface which is great for both experienced accountants and volunteer church treasurers alike.
• Finding qualified replacements who understand both accounting principles and nonprofit-specific requirements is challenging.
• Clients that need unlimited donations in multiple currencies will need to add a $9 a month Zoho Checkout plan to their existing Zoho Books plan.
• Next, make a list of the features your organisation needs to properly track, report and manage its funds, donations and tax.

Ultimate Guide to Selecting the Perfect Accounting Software for Nonprofits

Get our FREE guide to nonprofit financial bookkeeping and payroll services reports, featuring illustrations, annotations, and insights to help you better understand your organization’s finances. When you’re on a budget, it’s easy to feel like you need to do it all yourself. The cost of an in-house nonprofit CFO (or even a phone call to your nonprofit CPA) can feel like an unnecessary expense. Organizations must constantly weigh program expansion opportunities against financial constraints, all while managing irregular cash flow patterns typical of grant funding cycles. Strategic financial planning poses a unique challenge in the nonprofit sector.

• QuickBooks offers discounted products for nonprofits through TechSoup, a nonprofit tech marketplace.
• 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.
• However, if you want to store your donor’s information in the add-on CRM, expect to pay for each saved contact.
• Many NPOs instead look to adopt new nonprofit accounting software solutions that work out of the box.
• Consider making a list of the following factors and compare your list with the overviews of your option.

NONPROFIT CFO SERVICES

Adding this responsibility to an existing staff member’s to-do list will likely overwhelm your employees, and your books won’t get the undivided attention they need. That’s why your first step in the bookkeeping process should be finding a bookkeeper (and evaluating your outsourcing options). Sage Intacct is best for global non-profits that must work across currencies and tax codes to manage their financials. The payments we receive for those placements affects how and where advertisers’ offers appear on the site.

Nonprofit Bookkeeping vs. Accounting

For instance, the budget development module supports unlimited cycles and budgeting at any organizational level. Organizations can better allocate their expenses through budget management for every program. Unfortunately, there aren’t many free nonprofit-specific accounting software options. (Nonprofit Treasurer, our favorite free option, recently fixed assets closed its doors.) If you’re looking for fully featured free accounting software, though, your best bet is Wave Accounting. It offers accounting and bookkeeping features comparable to QuickBooks Online and Xero but for exactly no dollars.

• Lastly, nonprofit accounting software provides reports which give insights into giving such as pledge tracking, donations by donor, lapsed donors, or other giving reports.
• Aplos is our top choice for nonprofit accounting because of its versatility in offering both nonprofit-specific and accounting features.
• Let’s say you’ve just been elected treasurer of a very small organization ― perhaps a parent-teacher association or a community sports team.
• As a result, it’s no surprise that most NPOs prefer free software options.

Nonprofits have unique financial management needs, which is why we carefully evaluated each option based on the features that matter most to them. These ratings are meant to provide clarity in the decision-making process, but what’s best for your business will depend on its size, growth trajectory and which features you need most. We encourage you to research and compare multiple accounting software products before choosing one. NerdWallet compared more than a dozen accounting software products, and Aplos is our top choice for most nonprofits. Fund accounting, also known as fund-based accounting, is the accounting system nonprofits use to keep their books and track funds.

• It’s designed to enhance efficiency and accuracy in nonprofit financial management.
• Because nonprofits have unique challenges around budgeting and compliance, it’s crucial to pick software that aligns with your goals.
• Look for software with features like fund accounting and donation tracking tailored to nonprofit needs.
• It is best for those non-profits in Melbourne which need a whole lot of personalised data which can be achieved through the use of the add-ons.

On the other hand, NonProfitPlus doesn’t list any pricing on its site—as with Sage Intacct, you accounting services for nonprofit organizations have to get in touch with a representative for a quote. Customers report paying more than $600 a month for NonProfitPlus’s full suite of features, so if you’re looking for affordable nonprofit software, NonProfitPlus probably isn’t it. Since QuickBooks was also made for non-accountants, it’s easy for first-time nonprofit bookkeepers to get a handle on nonprofit finances. Plus, QuickBooks’s mobile accounting app is at least as user-friendly as its software—so if you plan to do a lot of on-the-go donor management or financial tracking, QuickBooks is one of your best options. Aplos is a fund accounting software solution designed to manage all your nonprofit’s accounting needs. Keep your financial records straight and up-to-date thanks to this easy-to-use yet powerful software.

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