Top 10 Nonprofit Accounting Software Picks for 2024 Zeffy

In conclusion, integration with other tools is an important factor to consider when evaluating accounting software for nonprofits. Compatibility with existing systems and third-party app integrations are key considerations that can help ensure data accuracy and efficiency. By carefully evaluating integration capabilities, nonprofit organizations can select accounting software that meets their unique needs. When it comes to accounting software for nonprofits, budget is always a major consideration. Fortunately, there are several budget-friendly options available that can help organizations streamline their financial management without breaking the bank.

What Users Didn’t Like About Xero

QuickBooks Enterprise Nonprofit and Xero are two examples of accounting software that offer these features. Bank reconciliation is the process of ensuring an organization’s freshbooks for nonprofits records (balance sheet, general ledger account, cash flow, etc.) are accurate. A nonprofit reconciles bank accounts by comparing the recorded amounts to the amounts on bank statements. Now that we’ve listed 13 of the best accounting software for nonprofit organizations, you should have a good idea of which one works best for you.

FreshBooks Accounting Software Testimonial Videos

Additionally, financial reporting features can help treasurers make informed decisions about their organization’s finances. Another accounting software that is easy to use is QuickBooks Enterprise Nonprofit. It has a clean and user-friendly interface that allows users to navigate the software with ease. QuickBooks Enterprise Nonprofit also offers a range of features that are specifically designed for nonprofits, such as donation tracking and grant management.

• It also has advanced reporting features that can help nonprofits track their financial performance and comply with regulations.
• Nonprofit accounting software often includes templates or built-in support for Form 990 data.
• However, Sage Intacct is definitely on the pricy end of the nonprofit software spectrum.
• Nonprofits without financial professionals on staff are often overwhelmed by more complicated solutions.

The template’s blank fields make it easy to create an invoice that suits your individual needs. Your donors will always know exactly how much they pledged, when they made the pledge and how to fulfill their promise. That makes less work for you and increased chances of receiving all your pledged donations. The software also has reporting tools that help you structure an expenditure roadmap to ensure you don’t exceed your cash flow. With Xero, you can generate reports, receive funds, and link your bank account for bulk reconciliation. Download and create professional non-profit invoices that are easy to edit and send.

Why consider alternatives to QuickBooks?

If you’re trying to balance a nonprofit budget on, well, a budget, Xero, Zoho Books, and FreshBooks are cheaper options, and Wave Accounting is completely free. While each organization’s features are highly subjective, well-rounded software must cover some basic accounting features. Accounting software is not a mere tool to manage expenses and funds, it helps keep up with compliance rules. Nonprofit organizations also need regular audits that are only possible with accurate financial record keeping. Wave Accounting offers a free plan for nonprofits and small business owners.

Because of its lower cost and no additional charges for new users, this application is an inexpensive choice for charitable organizations. Another important factor to consider when choosing accounting software for nonprofits is the uptime and reliability track record. Nonprofits rely heavily on accounting software to manage their finances, and any downtime can result in financial losses and delays in operations. Customer support and training resources are also essential factors to consider when choosing accounting software for nonprofits.

As a digital software expert with a focus on financial management tools, I’ve spent years analyzing platforms that help teams stay compliant, efficient, and audit-ready. When selecting a solution, consider factors such as ease of use, affordability, and scalability. Look for features like fund accounting, donation tracking, and reporting capabilities.

Many accounting software options offer step-by-step instructions and tutorials to guide users through the setup process. Additionally, some software providers offer implementation services to assist with the setup process, which can be particularly helpful for nonprofit organizations with limited staff resources. Many nonprofit organizations use third-party apps to manage their operations. It is important to select accounting software that integrates with these apps to ensure that data is accurate and up-to-date.

Pros and Cons of Zoho Accounting

• These reports offer insights into financial health and support effective decision-making.
• Whether you’re a small nonprofit looking for a cost-effective solution or a larger organization needing advanced automation and reporting, there’s an option for you.
• With the right accounting tools, you can accurately track funding sources, ensure compliance with financial regulations, and make smarter decisions about resource allocation.
• Quicken also offers a variety of reporting options, making it easy to get a clear picture of the organization’s financial health.
• Nonprofit accounting software solutions are tailored to the unique needs of nonprofit organizations.

Quicken’s user-friendly interface and robust reporting capabilities make it a popular choice among nonprofits seeking to streamline their financial management processes. You can access your accounting details from anywhere, working remotely with its cloud capabilities. Here’s a list of the best nonprofit accounting software options to manage your finances and boost fundraising initiatives. While FreshBooks is excellent for service-based businesses, freelancers, and independent contractors, downsides include limited billable clients and multiuser support.

Best for Managing Large, Global Non-profit Financials

However, since it’s a complex method, it’s more appropriate for large nonprofit organizations. One of the best capabilities of this financial accounting software is the ability to manage time tracking and invoicing in one platform. Sage Intacct is a cloud accounting tool for all types of businesses, including nonprofit organizations with a global presence. You can bill clients and allocate the revenue across your chart of accounts. AccountEdge provides all of the necessary accounting tools your nonprofit needs to succeed including accepting donations, providing donation receipts, recording expenses, and processing payroll.

Do you have a business with complex needs?

You can easily create a chart of accounts tailored to your organization’s activities, track budgets, and generate financial forecasts. With the right accounting tools, you can accurately track funding sources, ensure compliance with financial regulations, and make smarter decisions about resource allocation. SmartSimple is a grant management software that can help your nonprofit with various aspects of your accounting needs. Segmenting funds with Fund EZ helps your nonprofit financial advisor budget per segment, compare expenditures per fund, and create and print reports according to separate or consolidated sections.

Consequently, determining the obstacle(s) preventing your job from getting done is the first step in selecting nonprofit accounting software. The application focuses on essential accounting solutions, such as advanced budgeting, online reporting, and advanced project and grant management. The dashboard is easy to navigate and offers a variety of accounting-related tools, including cash flow management, AP, AR, general ledger, and many more. This accounting software is easy to use and expand and can be customized to match the needs of your nonprofit, especially tracking donations. Its Advanced Accounting plan has budgeting by fund, fixed asset tracking, income and expense allocation and project-specific reporting and is available for custom pricing. Organisations that support and manage multiple entities should contact Aplos to discuss its Enterprise plan, which is tailored to each customer.