BEST TOP 6 ACCOUNTING SOFTWARE FOR NONPROFITS THAT YOU WILL WANT TO USE IN 2022
The Best Top 6 Accounting Software for Nonprofits of 2022 (Reviewed and Ranked) Non-profit organizations, which depend on donations, have particular accounting issues. Americans gave more than $410 billion to charities in 2017, according to Charity Navigator. Non-profits must adhere to the exact standards and regulations set by the Financial Accounting Standards Board given the volume of money they handle. Accounting software for non-profits may make accounting and bookkeeping duties easier and more efficient for non-profit staff and volunteers, ensuring that financial records are in order and reporting requirements are satisfied. We investigated 10 different accounting programs and assessed them according to their features, price, and usability in order to assist you in finding the best accounting software for your business. 1: QUICKBOOKS ENTERPRISE NONPROFIT 2: SAGE INTACCT 3: ACCOUNTS from SOFTWARE4NONPROFITS 4: FINANCIAL EDGE by Blackbaud 5: APLOS 6: FASTFUND ONLINE
YOUR NEW EXPERIENCE OF ACCOUNTING SOFTWARE FOR NONPROFITS PLATFORM TECHNOLOGY
OUR TOP 6 PICKS & FEATURES
- 1.Safeguard donor data
- 2.Grow your donor lists
- 3: Get powerful insights
- 4: Nonprofit-specific report bundles
- 5.Nonprofit chart of accounts
- 1.Community Development Organizations
- 2. Educational Nonprofit Organizations
- 3.Faith-based Organizations
- 4.International Nonprofits and NGOs
- 5: Membership Organizations
- 1: Track income and expenses
- 2: Track fund balances
- 3: Associate accounts with lines on government forms
- 1. complete picture of your organization’s finances with powerful reporting and analytics
- 2. Budget management
- 3. Create advanced reports by funding source
- 4.SKY Reporting is the future of integrated business intelligence for nonprofits
- 1.Built-In Fund Accounting Software
- 2. People & Donor Management
- 3: Accept Online Donations & Gifts
- 1. Community Services
- 2. Religious Organizations
- 3.Education
- 4: Health Care
- 5: Associations
WHAT IS A NON-PROFIT ORGANIZATIONS
A nonprofit organization (NPO), also known as a non-business entity, not-for-profit organization, or nonprofit institution, is a legal entity organized and operated for a collective, public or social benefit, in contrast with an entity that operates as a business aiming to generate a profit for its owners.
Few industries have suffered as much as the nonprofit sector has during the pandemic. The statistics in the valley, from donations to unemployment, are at record lows, and there is little sign of a fast improvement.
Nonprofits will need some time to recover, but accounting software will be available to track all incoming and departing money. We will outline the top 20 accounting programs for nonprofits in this article, which may be used to manage donations, grants, and spending. After reading this article, you should know more about which accounting tool is best for your nonprofit or charitable organization.
The best overall ACCOUNTING FOR NON-PROFIT tool platform
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Intuit, a provider of tax preparation and financial services, is the firm that produces QuickBooks Enterprise Nonprofit. Founded in 1983, Intuit. It has gained notoriety since its debut and will generate more than $7.7 billion in revenue by 2020.
Although there are less expensive versions of QuickBooks for nonprofits, we chose QuickBooks Enterprise Nonprofit because to its durability. This program may be a good fit for big or expanding businesses that require full accounting services.
What Is Accounting Software for non-profits?
Some bookkeeping and accounting activities are handled by accounting software. It can carry out some commercial transactions and keeps financial information and records for your company.
Accounting software, for instance, can be used to record and monitor the costs, payroll, and transactions of your company. Additionally, it can generate reports, track donations, and receive grants. Due to its ability to handle bank reconciliation and expedite operations like invoicing, bill payment, and even payroll, accounting software can help you save time.
Why Do Non-profits Need Accounting Software?
Accounting for non-profits differs significantly from accounting for businesses. Since gifts and grants support non-profit organizations, they are required to adhere to stringent financial accounting rules. Non-profits must adhere to FAS 116 (Accounting for Contributions Received and Contributions Made) and FAS 117 (Financial Statements of Not-for-Profit Organizations) standards when it comes to reporting requirements.
Budgets for non-profits are frequently tight. Although it’s ideal to have a specialized accountant or bookkeeper—or several—on staff, this isn’t always realistic for new or expanding businesses. Even with a small workforce, the correct accounting software may assist non-profit organizations in meeting these criteria so they can fulfil their financial goals and cut costs.
The program can assist with the special accounting requirements of a non-profit organization, including fulfilling particular reporting requirements, keeping track of grants, promptly providing contributors and stakeholders with financial information, and producing balance sheet reports.
What Accounting Software for Non-profits Is Best for my NGO
Think about your organization’s needs and the experience of the person who will be handling your organization’s accounting when selecting accounting software. Smaller businesses and volunteer-run groups will probably do better with free or inexpensive solutions that are organized, straightforward, and include basic accounting tasks.
You will probably require a more complex program and pay more for accounting software if your group is bigger, has hundreds of donors, or accepts a high number of online payments. Large organizations with thousands of donors will require enterprise-scaled systems, like Blackbaud’s Financial Edge or QuickBooks Enterprise Non-profit.
What features should non-profit bookkeeping software have?
Non-profit-specific features like fund-based accounting, gift tracking, and Form 990 production should be included in the finest accounting software for non-profits. Software with strong accounting functions should also be taken into account. For NGOs, this frequently entails basic budgeting, a chart of accounts to assist you to track finances, and basic financial reports (including donor and board-facing financial reports).
You could also require particular add-ons based on the kind of organization you run. You may require accounting software with customer relationship management if you are managing hundreds or thousands of donors (CRM). Software that interacts with HR and payroll solutions is necessary if you have a large team. Pricing is also important to consider; non-profit software can range from being absolutely free to costing hundreds of dollars each month.
When assessing the software we review below, make careful to take into account the particular requirements of your non-profit. Additionally, we can help if you’re seeking for additional non-profit options
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Our Methodology
Our writers researched the most popular ACCOUNTING FOR NON-PROFITS software on the market. They looked at 10 different pieces of software in total, screened alternatives from ten different companies and makers, reviewed 25 user evaluations (both good and negative), and tested three of the pieces of software themselves before making their final recommendations. All of this study has resulted in advice that you can rely on
What people says....
SUMMARY
CONCLUSION
Our preferred accounting software for nonprofits is Quickbooks followed by Sage Intacct since it provides the most capabilities and interfaces seamlessly with a wide range of third-party applications. However, the best accounting software for nonprofits for you may differ. Our best substitutes include Aplos, NonProfitPlus, QuickBooks Online for Non-profits, and Zoho Books; any one of these could satisfy your requirements.
Your non-profit’s success depends on choosing the correct software, so be sure to take advantage of any free trials and try out various products. Making the most of your money and connecting with supporters of your cause will be possible with the correct bookkeeping software by your side.
Many non-profit boards and decision-makers may believe that hiring a non-profit accountant is simpler after researching possibilities for non-profit accounting software. A non-profit accountant may be the best choice for you if your organization requires thorough financial reporting, reconciliation, and tracking.
Accountants are a great asset for any non-profit organization since they can advise on expenditures, assist with tax preparation, and lighten the team’s administrative burden in the area of money. However, many accountants will ultimately require software to assist them in performing their duties well. Non-profit accounting software can be what you need to enhance operations, whether you’re a tiny company looking for tools to make your life easier or your accountant needs a system to assist his or her work.
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Also, see our article on Best Accounting software for small businesses
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MORE FEATURES
- 1. track your finances, manage your donor lists
- 2. create donor and grant reports.
- ntegrates with several apps used by nonprofits
ABOUT QUICKBOOKS ENTERPRISE NONPROFIT
Intuit, a provider of tax preparation and financial services, is the firm that produces QuickBooks Enterprise Nonprofit. Founded in 1983, Intuit. It has gained notoriety since its debut and will generate more than $7.7 billion in revenue by 2020.
Although there are less expensive versions of QuickBooks for nonprofits, we chose QuickBooks Enterprise Nonprofit because of its durability. This program may be a good fit for big or expanding businesses that require full accounting services.
QuickBooks Enterprise Nonprofit allows you to track expenditures and gifts, create donor and grant reports, budget by program and compare to actuals. You can collect donations with this version of QuickBooks and safely keep donor information in your database. Upgrades to the Gold, Platinum, or Diamond plans are available.
Pros And Cons
Like
- combines payroll services, financial statements, and contribution administration into one package.
- Online security and backup
- connects to programs like Kindful
Dislike
- Enterprise edition is not available for a free trial.
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ABOUT SAGE INTACCT
Sage Intacct sets a high bar for what fund accounting software should offer nonprofit administrators. In addition to standard accounting functions like bank reconciliation, the program provides a number of tools tailored specifically for nonprofits:
- Donation monitoring
Management of fundraising, membership, and dues
multi-currency support (for international donations)
Financial reports specifically for nonprofits, including forecasting and budgeting
automation of tasks to lessen repetitive data entering
Additionally, Sage Intacct provides free seminars to assist charitable organizations in starting up, which is especially helpful for nonprofits who are finding it difficult to make ends meet after COVID-19. Additionally, Sage Intacct receives 8.6 out of 101 possible stars on the review site TrustRadius, with users expressing satisfaction with Sage’s quick customer support response times.
Pros And Cons
Like
- Numerous regions and currencies are supported
- Monitoring donations and managing dues
Dislike
- NO PRICING ONLINE
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ABOUT SOFTWARE4NONPROFITS
For small businesses and churches that want fundamental bookkeeping and accounting services, SOFTWARE4NONPROFITS is an intuitive platform. You may manage income and expenses, keep tabs on fund levels, link accounts to lines on your IRS tax forms, and generate in-depth reports using the application.
You can use the software to manage the accounting for both entities at no additional expense if you are in charge of keeping the books for various groups, such as the school PTA and your child’s sports team.
Pros And Cons
Like
- The software is free to use for the accounting of up to five different businesses.
- 30-day money-back guarantee and a 60-day free trial
Dislike
- The desktop application is only compatible with Windows.
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ABOUT FINANCIAL EDGE
Financial Edge is without a doubt the best option for large enterprises seeking enterprise-level accounting. It interacts with Raiser’s Edge, the go-to tool for managing donors and constituents, and lets you keep track of costs and budgets throughout many fiscal years.
Blackbaud, a well-known software provider that serves healthcare facilities, educational institutions, and charity organizations, recently unveiled Financial Edge. It offers services to millions of users in more than a hundred different nations.
Financial Edge can be a great fit for large nonprofit organizations with considerable accounting needs, staff, and a sizable donor base. It is our top recommendation for large nonprofit organizations.
Pros And Cons
Like
- Remotely manageable software that is hosted on the cloud
- integrates with the donation management system Raiser's Edge
Dislike
- NO ONLINE PRICING
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ABOUT APLOS
Church-specific and nonprofit since its inception, Aplos’ software. You don’t need to modify the built-in general ledger in your program to meet the accounting demands of nonprofits because it is based on fund-based accounting. A full suite of functions is available in Aplos Lite, which has a monthly price of $79 and is suitable for both church and nonprofit accounting:
If text-to-donate functionality is something you’re interested in, you can upgrade to Aplos Core for $139 per month. Additionally, Aplos’s tailored solutions start at $189 a month if you run a larger nonprofit with numerous active projects.
Unfortunately, Aplos’ accounting features are less robust than its nonprofit functions, which shine out. In-depth tracking of revenue and expenses, budgeting by project or fund, asset tracking, and recurring transactions are only included in the customized plan.
Pros And Cons
Like
- Fund accounting
- Support for tracking donations
Dislike
- low support for several currencies
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ABOUT FASTFUND ONLINE
You can manage bank reconciliations, prepare accounting reports, build budgets for each department and grant, and generate all the data required to complete the IRS Form 990 with the help of the FastFund Accounting platform. There is no setup price and the FastFund Accounting application can be purchased for as little as $42 per month. Additionally, you are not required to sign a contract and can break it at any time.
Two other programs from Araize are available for single purchase or as a package with the accounting program. You can track monetary, pledged, and in-kind donations with FastFund Fundraising, produce personalized donor receipts and construct complete donor profiles. FastFund Fundraising can be purchased for as cheap as $20 per month when bundled with FastFund Accounting, or for $42 per month when purchased separately.
Pros And Cons
Like
- One service or all three might be chosen.
- includes online video instruction
Dislike
- Personal training is more expensive.
Frequently Asked Questions
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The accounting system used by NGOs to maintain their books and track finances is known as fund accounting, commonly referred to as fund-based accounting.
The focus of typical small-enterprise accounting is profit—how much money the business is bringing in, spending, throwing away, and saving. Contrarily, the focus of non-profit accounting is on tracking finances, including a careful eye on fund management. The main objective of fund accounting software is to demonstrate to you and your shareholders—board members and donors—exactly where their money is going..
Non-profits need to manage income and expenses much like businesses do when it comes to accounting software. For their organizations to continue to be tax-exempt, non-profits must adhere to tight rules.