Accounting software for nonprofits is one of the most in-demand accounting tools this year. Nonprofits are constantly having to make major decisions, and their decision-making process can be quick, easy, and less ambiguous with the help of effective accounting software.
Despite its importance, however, many nonprofit finance professionals struggle to use nonprofit accounting software. This article will provide you with a checklist that will aid you in assessing your current situation and decide if an accounting program is right for you. You will also find a list of the best accounting software for nonprofits available on the market with its pros and cons.
Our Top 5 Accounting Software For Nonprofits
Accounting Software For Nonprofits Reviews
1. Best Overall: Quickbooks Enterprise Nonprofit
If your nonprofit is looking to make the best use of its time and resources or wants to make a change, then you might want to take a closer look at QuickBooks.
QuickBooks Enterprise Nonprofit Edition has all the features of QuickBooks that nonprofits need, plus it was created for the needs of organizations like yours.
So, there are features like self-service payment collection so new donors can donate through your website without contacting customer service every time; an enterprise e-commerce solution so you can offer events or products for sale and accept online payments securely; and services for government grants that track grantors and grant programs in one place.
QuickBooks Enterprise Nonprofit Edition combines the features you need to run your nonprofit with the professional, easy-to-use design of QuickBooks. Designed by people who understand nonprofits, it simplifies so you can focus on your work. Plus, it’s easier to learn and use than ever.
Pricing Plans
- Simple Start – $12.50/mo.
- Essentials – $20.00/mo.
- Plus – $35.00/mo.
- Advanced – $75.00/mo.
All Plans Include
- Income and expenses.
- Securely import transactions and organize your finances.
- Invoice and payments.
- Tax deductions.
- Powerful reports.
- Bill management.
- Time tracking.
- Analytics and insights.
- Batch invoices and expenses.
- Customized access.
- Task management.
2. Best Customizable Option: Netsuite
Netsuite is the leader in cloud-based financial management for nonprofits. With more than 250,000 customers, Nutuse offers a full suite of budgeting and forecasting tools, integrated grant management capabilities across all stages of the grant lifecycle, robust reporting and analytics to improve decision-making, and 24/7 customer service.
Netsuite’s software is completely web-based, meaning nonprofit organizations can access their data from anywhere, at any time. Netsuite is our robust set of analytics that helps nonprofits answer real-time questions about their financial performance by providing predictive analysis and recommendations to increase efficiency and improve decision-making.
In addition, NutuRecorder provides easy-to-use tools to capture financial data right from an organization’s bank account, credit card statement, or check register in real-time.
All Plans Include
- Financial management.
- Fund accounting.
- Grant accounting.
- Automated FASB reporting.
- Simplified, flexible economic segmentation.
- KPIs, roles, and dashboards.
- Program efficiency tracking.
3. Best Easy-to-use: Sage Intacct
Sage Intacct accounting software for nonprofits provides its users with a full suite of features to record and track the cash coming in. The accounting software includes tools that manage donations, events, online giving, pledges, and lots more.
Imagine managing your business’s finances without the help of accounting software. You’d need to look through piles of papers and receipts to find out how much cash you had on hand at any given time when you received it, what it was for, and how much time it took! Accounting is about as frustrating as possible because there are too many human errors in manual bookkeeping.
One of the benefits of using online accounting software is they provide data security. When you use Sage Intacct, your information is safe because your data is hosted on the Internet and backed up to prevent data loss.
Sage Intacct provides its users with a free trial offer that lasts 30 days. It also comes with a 30-day refund period if customers are not happy with the software or if they want to return it. The accounting software comes with a personal and business plan for those who wish to use it for their own homes or offices.
All Plans Include
- Grant tracking and billing.
- Multi-entity and global consolidations.
- Nonprofit digital board book.
- Nonprofit revenue recognition.
4. Best Customizable Option: Aplos
Aplos is cloud-based accounting software for nonprofits, charities, and NGOs. This comprehensive solution helps you track the day-to-day operations of your organization, manage donations and grants, simplify bookkeeping with built-in reporting tools, and more.
Aplos Features
- Automate recurring accounting processes with Aplos’ automated invoice, expense, and donation management tools.
- Manage employees, donors, and volunteers while going with the Aplos mobile app for iOS and Android. Use Aplos’ built-in reporting system to view your organization’s financial status in real-time.
- Set up a customized online payment portal so donors can securely give money to your nonprofit online. Receive automatic reports from the IRS, so you don’t have to spend time preparing them yourself.
Pricing Plans
- APLOS SUITE – $29.50/mo.
- APLOS SUITE + TEXT TO GIVE – $39.50/mo.
- APLOS SUITE + ADVANCED ACCOUNTING – Customized solutions starting at $159/mo.
All Plans Include
- Free support.
- Customizable reporting.
- True fund accounting.
- Budgeting tools & reports.
- Donation tracking & giving statements.
- Event registration & tickets.
- Merchant account for secure payments.
5. Best Scalable: Blackbaud Financial Edge NXT
Blackbaud Financial Edge NXT is cloud-based accounting software for nonprofits that gives you everything you need to simplify the management of your organization’s financial records.
Quality, performance, and security are the top three things they think about when designing products at Blackbaud. The company wants you to have a great experience with Financial Edge NXT, creating the system around these concepts. A key component of this design is a technology called Blackbaud Secure.
Blackbaud Secure helps protect the community of nonprofits using their products from phishing and other online fraud-related scams. Blackbaud Secure also helps keep your organization’s data secure in accordance with the Payment Card Industry Data Security Standards (PCI DSS) and the Payment Application Data Security Standards (PA-DSS).
Blackbaud Secure Features
- Account summaries help you quickly access important financial information for your organization’s fiscal year.
- Reports give you the data to fully understand your organization’s performance and make decisions that keep you in compliance with the laws governing your nonprofit.
- Spreadsheets and charts show you how every dollar is spent in detail at a glance.
- Financial Edge NXT allows multiple users to work together on your financial information–giving them access to all of the same reports, spreadsheets, and charts.
Buyer’s Guide
Nonprofit accounting software suites can be very complex, and for some, this can be daunting. This article includes information on the main categories of nonprofit accounting.
Whether you decide to choose a specialty-based solution or a general-purpose solution will depend on several factors, including the size of your organization as well as how the software solution complements your unique workflows.
What Is Accounting Software For Nonprofits?
To put it very simply, accounting software for nonprofits is a program that is designed to facilitate the financial functions of an organization. Such type of software is very different from accounting software for businesses or even individual private-sector employees.
Unlike the commercial sector, nonprofit organizations do not need complex, complicated, and thorough financial reporting. Instead, what they require is a system that allows them to easily and quickly organize individual transactions, produce reports in near real-time, and allow errors to be corrected promptly.
For this reason, the ideal software packages are designed with what users call “non-linear” (read friendly) accounting software that gives users exactly what they need instead of too much information all at once.
Accounting Software For Nonprofits Benefits
One of the key benefits of using accounting software for nonprofits is that it can help to streamline your financial processes and reduce your workload. This can be extremely beneficial for any organization regardless of its size, mainly since resources are always limited, and the responsibilities are always growing.
In addition to streamlining this process, accounting software helps you create an accurate picture of your organization’s finances. This includes a balance sheet, profit, loss statement, and other informative reports that can help forecast future budgets.
How To Choose Accounting Software For Nonprofits?
Before choosing a product for your organization, it is important to understand the different elements that must be considered when making this decision.
What you are looking for in accounting software for nonprofits depends on your organization’s exact needs and requirements. For instance, if you are looking for help with financial tracking, automatic payment processing, or planning budgets, the type of software that best fits your needs depends on these areas.
Another area to consider is the level at which you want to integrate accounting software with other systems within your organization. If this will be integrated through an online solution, it will require integration with your email system and may need a mobile application and cloud-based servers.
FAQ
What Is The Best Accounting Software For Nonprofits?
QuickBooks is one of the most commonly used accounting software programs for small, medium-sized, and large companies. It is highly compatible with many accounting software and payroll services. There are so many features in Quickbooks that it’s almost impossible to get bored or find a need for something else.
Is Quickbooks Good For Nonprofits?
A lot of nonprofit organizations find Quickbooks useful for its flexibility and ease of use. This software program for the financial management of a business. It’s meant to be easy to use and can help any organization run more effectively, regardless of size or industry.
What Accounting Software Do Nonprofits Use?
Many nonprofit organizations use the same types of accounting software that businesses use. They usually rely on the accounting software to run their day-to-day activities. There are some different options out there, but the most popular is QuickBooks. It’s also commonly used with Intuit’s online software portal, or even if you’re just starting a business, you can use their free starter edition.
