See if one of these additional accounting software solutions for nonprofit treasurers and bookkeepers meets your needs. Unlike https://www.bookstime.com/ most software for nonprofits, NonProfitPlus includes inventory management, which is crucial if you stock merchandise (like T-shirts and mugs) to raise money or reward donors. On the other hand, NonProfitPlus doesn’t list any pricing on its site—as with Sage Intacct, you 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.
Software4Nonprofits ACCOUNTS
- Donors may pose restrictions on how contributions should be used, making revenue recognition another challenging task.
- Diamond includes all the features of QuickBooks Desktop Enterprise Platinum edition with the exception of Enhanced Payroll.
- Nonprofit organizations should use fund accounting, not regular financial accounting, to track their financial data.
- You can even send payment receipts to your donors as a token of appreciation and proof of having received their contributions.
- As the plan levels increase, you’ll have access to greater features such as multiple users, time tracking, bill pay, budget tracking by program or fund, and advanced custom reports.
Non-profit employee salary levels correlate with expected fundraising levels and grants. Salaries are also limited by the percentage of administrative costs to fundraising revenues needed to attract donors. The Sage Intacct accounting solution dashboards let you view essential KPIs, consolidation, and drill-down features for seeing each separate non-profit entity’s financials. Your team gets role-based views of the real-time dashboard and can document collaborative operational change decisions on the dashboard itself. QuickBooks offers discounted products for nonprofits through TechSoup, a nonprofit tech marketplace.
Nonprofit accounting software FAQ
Additional modules can be purchased to create a custom solution that is typically used by larger nonprofits with an extensive digital infrastructure. Accounting software is a type of computer program that allows bookkeepers and accountants to record and report an organization’s financial statements. Software may be specifically designed for certain types of organizations, including nonprofits, so they can take care of their financial reporting and remain compliant. For instance, tracking donations in QuickBooks is possible through workarounds, but not as straightforward as with a product built for nonprofits. If you choose to use regular accounting software, make sure you can integrate with an app like Donor Receipts or Kindful that provides nonprofit-specific tools.
- We appreciate that QuickBooks provides businesses the flexibility to either access Enterprise remotely via cloud hosting or stick with the traditional desktop setup.
- Easy to share information with your accountant and to find QuickBooks experts and online resources if needed.
- If you’re a new nonprofit or on the smaller side, it’s tempting to choose the cheap option that works well for small organizations.
- These are essential for tracking your nonprofit’s finances and making sure it has the cash that it needs to pay the bills.
- Ideal for small nonprofits, Wave offers essential functions like invoicing and receipt scanning without subscription fees.
- Also, be sure that the tool you select has reporting tools and an easy-to-read dashboard.
- Its ease of use really stands out, with multiple customer service channels that make it simple for users to get help when they need it.
Money Minder (Great Nonprofit Bookkeeping Software for Volunteer-Led Organizations)
If you want to send and track invoices for people’s annual dues or gifts, we found its invoicing system to be easy to use and it integrates well with credit card processing software. If you find yourself spending a lot of time chasing down payments, be they board pledges, consulting revenue, membership fees or subgrants, FreshBooks may be the right choice for you. Created as invoicing software, it now has a full range of accounting functionality. Fund accounting is used specifically by organizations that manage money but don’t turn a profit.
Best for Large Organizations
This seemed to us like a reasonable price to set the system up efficiently income statement and maximize its utility for your staff. Let’s say you’ve just been elected treasurer of a very small organization â perhaps a parent-teacher association or a community sports team. The finances are a mess, you’re struggling to understand how much money you can spend and people are complaining that they don’t get reimbursed when they pay for things on the organization’s behalf.
- It is essential for nonprofit accounting software because it allows organizations to stay compliant with grant requirements by keeping detailed records.
- If you’re further down the path and have more detailed accounting needs, you can upgrade to Sage Intacct for a more intensive cloud-based software system.
- NetSuite’s cloud-based Social Impact software includes fund accounting, inventory management, and even ecommerce support.
- This can include rules set forth by the Financial Accounting Standards Board (FASB), Internal Revenue Service (IRS) regulations for tax-exempt organizations, and state-specific reporting requirements.
- Requesting to test the software yourself allows for a hands-on experience that can greatly influence decision-making.
- Start by creating a list of the most essential features and functionalities that are critical for your organization’s performance and success.
- The solution offers tools for fund accounting, grant management, and in-depth reporting, but does not offer pricing publicly.
Advanced Reporting is included in all QuickBooks Desktop Enterprise subscriptions. Right Networks performs backups of all Hosted data on a nightly basis and retains the back-ups for a rolling 90-day period in a protected offsite facility as an additional level of protection. Customers are responsible for verifying the integrity of the hosted data at least every 90 days. Snapshots are taken daily and then replicated to another physical Right Networks facility for Disaster Recovery.
As you sort through the options to accounting services for nonprofit organizations choose the right accounting software for your unique nonprofit organization, consider your budget, financial needs, organizational size and personal preference. Do you rely on other apps to manage your nonprofit’s finances (for instance, a donation acceptance app or reporting tool)? Integrating those apps with your accounting software can cut down on the time you spend doing manual data entry. Nonprofits don’t rely on the sale of products, goods and services to make money. Instead, they rely on donations, grants and other profit-free income streams, which means nonprofit software should help you accept, record and track donations.