Only the customized plan includes in-depth income and expense tracking, budgeting by project or fund, asset tracking, and recurring transactions. With more than 1,000 third-party integrations available, Xero is a user-friendly, scalable, cloud-based accounting product that can be customized to fit the needs of your nonprofit organization. You can link your Xero account to Infoodle for seamless donor communication and analysis.
Sumac: Best Customizable Nonprofit Software
With the right bookkeeping software on your side, you’ll be able to make the most of your donations and reach people who support your cause. But if you want to accept donations you can’t just sign up for Zoho Books. Zoho Checkout is free as long as you accept only 50 donations—ever, not per month. 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. However, Sage Intacct is definitely on the pricy end of the nonprofit software spectrum. Information provided on Forbes Advisor is for educational purposes only.
Fund accounting features for tracking how donations and grants are used. Also track outgoing funds such as salaries, wages and other business expenses, and break them down by month. Subtract the sum of all expenses from the sum of incoming funding. Finally, write an explanation addressing how surplus will be reinvested into the nonprofit. Nonprofit accounting is vastly different from for-profit accounting. Nonprofits are backed by donations and grants, so they have strict financial accounting standards they have to meet.
QuickBooks Desktop Enterprise
In addition, they can track expenses and capture receipts to simplify tax filings and report to donors the nonprofits’ overhead-versus-project costs. Intuit QuickBooks offers several plans, ranging from $15 to $100 per month. Plan differences revolve around the number of users, customization options, inventory management, automations and expense tracking. Higher-tiered plans include advanced features such as automations. You have to pay an extra fee for payroll services, starting at $45 per month.
Similar to QuickBooks Enterprise, Accufund is available as both a desktop product and a cloud-based solution. In particular, nonprofits with lots of full-time employees may benefit most from the product’s HR management modules, which can assist with payroll, time tracking, tax management and HR policies. Each plan can be customized with other a la carte modules that address areas like budget development, payment portals and grants management. For example, accounting software can be used to store and track your organization’s expenses, payroll, and transactions.
Do you need payroll features or payroll assistance?
When choosing nonprofit accounting software, you’ll want to identify the obstacles blocking your work. Fund accounting features for tracking how grants and donations are used. Before making a decision, consider whether you need a solution that uses fund accounting. Nonprofits use this bookkeeping method to monitor how funds are used and track each separately. Your decision will also boil down to the size of your nonprofit, your budget and whether or not you want an all-in-one product. Once you have chosen an affordable software and respective plan that includes the accounting features and functionality your nonprofit needs, evaluate its more advanced plans.
Which is the best nonprofit accounting software?
The best nonprofit accounting software is based on the needs of your organization. While some nonprofits can use accounting software like QuickBooks Online with nonprofit organizations, other organizations may require something more robust like Nonprofit+, or software designed for a specific sector. To find what’s best for you, make sure to do your research and take advantage of free trials and demos.
Get more insights into your giving with pledge tracking, donations by donor, lapsed donors, or other giving reports. Get quantitative information on your deliverables while tracking your donations. Generate detailed reports, assess your progress over time, and get insights into the advancement of your cause. Use any of the above accounting tools for your nonprofit organization and comply with local and international laws for nonprofit entities.
The Best Accounting Software For Nonprofits
Nonprofit accounting software helps you to respond to these challenges smartly. Sparkrock is the only software on the list to offer this feature. If your nonprofit organization needs these features, then the price may be worth the tradeoff. Fund EZ comes as either a cloud-based product or a locally-installed program. FundEZ does not display its prices on its website, so contact the company directly for a quote. You can add Medicaid billing, foster care support, fundraising, and fixed assets for an additional cost.
Your financial situation is unique and the products and services we review may not be right for your circumstances. We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals or to buy or sell particular stocks or securities. Performance information may have changed since the time of publication. First, find out which considered software offers a free bookkeeping for nonprofits trial or a version you can use to try the software before buying. Narrow down your list of considered software to the ones you can afford. As we evaluated providers for this best-of guide, we looked for a variety of providers for different nonprofit needs. We also looked for some common elements, such as value for the cost, ease of use, breadth of features and functionality and customer support.
Download our guide for nonprofit organizations for advice on dealing with donors, managing funds and ensuring effective governance. The right software program can facilitate multiple business processes, such as leadership succession planning and development. Our solutions also easily integrate with other programs, including your nonprofit CRM software, simplifying business operations. It takes more than donations to succeed—you need a suite of powerful HR, CRM, and accounting software for nonprofits to move your mission forward efficiently. Instabooks nonprofit and non government receipt scanner software and app is designed for nonprofit and non government organizations.
- Freshbooks offers a tiered pricing system with a nonprofit discount.
- Araize FastFund Online provides a total software solution that allows you to keep track of your finances, manage your fundraising, and pay your employees.
- The solution can support tracking budgets by programs or funds, donor management, grant management, financial reporting, bank reconciliations, and more.
- You and your volunteers can accept donations from a credit card, debit card, bank transfer, cash, or check.
- Since nonprofits deal with monetary transactions, they must also abide by financial standards, or they might lose their tax-exempt status.
- AccountEdge provides all of the necessary accounting tools your nonprofit needs to succeed including accepting donations, providing donation receipts, recording expenses, and processing payroll.