Nonprofit organizations have many of the same expenses as their for-profit counterparts, including payroll, rent, insurance, and utilities. (Nonprofits are also subject to the same tax laws as other companies.) But these expenses have to be accounted for, and there are strict regulations governing how they must be reported. Before choosing nonprofit accounting software, you should understand the two available options: a program that’s specifically made for nonprofits, or one that’s designed for for-profits but that also allows you to manage your nonprofit’s finances.
Nonprofit accounting can be a lot more complicated than it sounds. With multiple sources of funding, reporting requirements, and a variety of different stakeholders, it can be difficult to keep track of everything. Fortunately, there is a variety of nonprofit accounting software that can help you manage your nonprofit accounting. These software programs come in a variety of different flavors, from cloud-based solutions to software that you install on your own computer.
Our Top 5 Nonprofit Accounting Software
As a nonprofit organization, it’s important to keep track of every dollar that comes in and goes out. The best way to do this is by using software designed for nonprofit accounting—keeping track of donations, volunteers, and other expenses is simple, and using the right software means you’ll be better able to plan for the future, and can provide your stakeholders with more information on your finances.
The best nonprofit accounting software should help you meet your accounting needs. There are different software applications that meet the needs of different organizations, and it is important to choose the software that is best for your particular organization. This article will provide a brief review of five nonprofit accounting software applications that can meet the needs of your organization. This will help you choose the right software for your organization.
1. Best Overall: Sage Intacct
Sage Intacct is cloud-based accounting software. It is ideal for companies that operate in the nonprofit sector. It can integrate with other programs your organization may use, such as your website, Google Analytics, QuickBooks, and more. Intacct can also be tailored to your organization’s specific needs and requirements, such as how many users you have or what modules you need. The system provides stronger internal controls and tighter financial management, to oversee limited budgets and diversified funding streams.
Sage Intacct will facilitate multiple business processes, such as leadership succession planning and development. Sage Intacct solutions also easily integrate with other programs, including your nonprofit CRM software, simplifying business operations.
2. Best Customizable Option: Aplos
Aplos is one of the most affordable content management systems (CMS) for nonprofits. This software is used by organizations and community sites. It’s easy to use and has multiple features that help you create an amazing website. Aplos is easy to install and has a user-friendly interface, so it’s accessible to anyone who works for a nonprofit. Aplos software is a leader in the nonprofit sector, and it’s one of the most popular donor management programs available.
Generating nonprofit financial statements, customizable databases, improving donor retention, donation reporting, budgeting reports, creating custom reports, donor management, engaging your donors, and fundraising with confidence is all about Aplos. Aplos accounting software makes it simple for you to do accounting the right way.
3. Best for Affordability and Plan Options: QuickBooks Enterprise Nonprofit
QuickBooks Enterprise Nonprofit software is one of the best accounting software for nonprofits, due to its advanced features and ease of use. It integrates seamlessly with other QuickBooks Enterprise applications, providing a single solution for managing all aspects of your organization. It combines accounting, payments, automation, and payroll functions in a single product. In addition to standard accounting and tax reporting features, QuickBooks Enterprise Nonprofit software also offers a full range of nonprofit management features. If you are running a nonprofit organization, you should consider QuickBooks Enterprise Nonprofit software.
Categorizing revenue expenditures by fund or program and creating custom reports based on the data that matters most to your nonprofit organization, finding a complete accounting solution, tracking budgets by programs or funds in real-time, tracking donor management, grant management, financial reporting, bank reconciliations, expanding capacity and increasing protection, connecting apps to QuickBooks for a smarter software solution this is everything you can do with QuickBooks.
4. Best Range of Features: NonProfit Plus
NonProfit Plus is the perfect software for non-profit and charity organizations to keep their books in order and easily manage all the details of their organization. This software is one of the best-designed accounting software packages we have come across, with an interface that allows you to quickly and easily handle all of your books and finances, without the need to use a third-party accounting firm. It offers a variety of new features, including an easier-to-use interface and streamlined workflows, helping nonprofits improve their fundraising and overall management.
The software is completely customizable, so it will work for any non-profit or charity, regardless of how large or small. You can add your logo and other graphics to the software, and even use your own chart of accounts to get the details you need. It could be useful for you in maintaining your funding sources with a strong, dynamic audit trail, managing grants received and grants given, accounting and reporting on donations and donors, tracking activity, scheduling, printing, and sending donor receipts, acknowledgement letters.
5. Best Scalable: Blackbaud Financial Edge NXT
Blackbaud Financial Edge NXT is a software solution designed for nonprofits, and it includes a variety of modules designed to help your organization manage day-to-day operations, as well as track and manage contributions, donations, and other funding sources. This makes it a good fit for organizations that wish to handle their own data internally, but still need to practice financial transparency.
Analytics, fundraising and relationship management, grant and award management, organizational and program management, marketing, and engagement are at your service with Blackbaud Financial Edge NXT. The software contains all the tools your organization will need to effectively manage its money. The system integrates with a variety of third-party software to facilitate communication among staff members, volunteers, and donors and comes with several tools that allow you to track and analyze the effectiveness of your fundraising and operations.
A Nonprofit’s Guide to Purchasing Accounting Software
Nonprofit software can be a great way to streamline your nonprofit’s accounting process, making it easier to manage your books and serve your community. As with any other software you’re considering, be sure to do your research before making a purchase so that you can get the most for your money. There are many free nonprofit accounting software programs available on the internet, but some are better than others. This buyer’s guide can help you decide which program is the best for you.
5 Tips for Looking the Right Nonprofit Accounting Software
Nonprofit accounting software is used in several industries, including education, health, and government. Nonprofits often have very specific requirements when it comes to their accounting software, as they must follow regulatory guidelines that differ from industry to industry. There are many choices of nonprofit accounting software on the market today, so it can be a challenge to narrow down your options and find the right software for your needs. That’s where we come in. Here are five tips for finding the right nonprofit accounting software:
- Determine what the software is going to be used for.
- Look for software that is specific to your industry.
- Be sure the software can handle your current accounting needs while still being able to grow with your needs.
- Find out if the software is the same on both the front end and back end.
- Compare the various accounting software packages that are available to you and choose the one that best fits your needs.
Extra Requirements When Selecting the Best Nonprofit Accounting Software
Here are some additional points to be taken into account while looking for your right software.
- You should keep in mind that you will use a software program that works with the latest software versions and the latest operating systems.
- You have to choose your nonprofit accounting software that is technically supported in case of any issues.
- Maintenance and, if appropriate, training should be available for your nonprofit accounting software.
- One more important thing is that your software program shall be compliant with eligibility criteria, federal and state laws, and regulations (Nonprofits have to be both financially and legally accountable to the government and the public. And to ensure that your organization is operating transparently and in compliance with the law, you need the right accounting software).
FAQ: Nonprofit Accounting Software
What is the Best Accounting Software for Nonprofits?
If you are looking for nonprofit accounting software, you know how difficult it is to find a good system—one that will be easy to learn, easy to use and to produce accurate reports. Our latest list of the top five accounting software options has proven to be a helpful resource for those looking to make the switch, or perhaps just looking for some guidance. After we reviewed all the top options available, it was clear the best program was QuickBooks Enterprise Nonprofit, which had the best combination of intuitive design, clear reports, and low price.
The best accounting software for your needs will provide you with the strength and flexibility to easily adapt to your changing needs.
What About Eligibility Speaking about Nonprofit Accounting Software?
Nonprofit accounting software is a popular topic for software reviews and is commonly recommended by experts in the field. Nonprofit organizations have a lot of the same basic accounting needs as for-profit businesses. They need to: keep track of what money comes in and where it goes, pay their employees and contractors, and maintain basic records on their assets. However, nonprofits also have some accounting needs that are unique to their sector, and a few accounting needs that are the same as for-profit businesses.
We take a look at the most common accounting software for nonprofits and the accounting needs that drive that choice.
However, not all organizations are eligible to use it. These are the basic guidelines that govern the use of nonprofit accounting software:
– The organization must be a nonprofit organization.
– The organization must not be a government agency.
– The organization must not be a political candidate.
– The organization must be a 501(c)(3) organization.
– The nonprofit accounting software must be approved by the IRS.
– The organization must have annual gross revenue of less than $1,000,000.
– The organization must have a number of employees of less than 10.
– The nonprofit accounting software must be licensed for fewer than 50 employees.
Why Do You Need Nonprofit Accounting Software?
A nonprofit organization is one that is not geared toward making a profit. Instead, the reason for its existence must focus on public service or other civic goals. Basically, a nonprofit organization is one that has been created by a government agency or a group of people with similar interests, such as a church group. Since the main purpose of a nonprofit organization is not to make a profit, the expenses associated with maintaining the organization must be covered by donations or other income. Because of this, tracking the financials is vital for a nonprofit organization.
So, nonprofit accounting software can help streamline daily tasks while providing the information you need to ensure compliance with industry standards. Nonprofit accounting software is an ideal solution for nonprofits looking to keep track of their money.
Conclusion
Thus, the best nonprofit accounting software programs address these challenges and help keep your financial information organized, accessible, and secure. Whether it is helping to manage the financial operations of a large organization or to keep track of the finances of a small nonprofit, the right accounting software can make a big difference.
In short, regarding the said five software programs it should be mentioned that:
- Blackbaud Financial Edge NXT will help to raise more funds, more efficiently. Reach and engage new supporters. Manage and expand relationships.
- NonProfit Plus is packed with features that make it easier to manage your nonprofit’s finances, including grant management, donor management, fund accounting, and also makes it easy to provide your donors with the level of transparency they have come to expect.
- QuickBooks Enterprise Nonprofit is affordable and highly popular in use. Most of all users choose QuickBooks Enterprise Nonprofit.
- Aplos software is a unique, highly customizable option for nonprofits. It offers a full suite of fundraising, volunteer engagement, data storage, and asset management tools. What makes Aplos a good choice for nonprofit organizations is its ability to create custom software for the unique needs of each organization.
- Sage Intacct is the best overall nonprofit software. It was designed by a team of experts who have worked with nonprofit organizations for many years, and have seen firsthand the challenges that many nonprofits face.
So, choose the right one and enjoy it for the convenience of a nonprofit!
