Nonprofit Accounting Software in 2023: Top 7 Ranked
Be sure the software you choose meets nonprofit requirements such as financial reporting standards, grant tracking, and donor management. Nonprofit accounting software options allow nonprofits to accurately manage the complex financial needs of organizations of any size. Rather than depending on a general-purpose business accounting solution with basic accounts receivable (AR) and payable (AP) functionality, organizations prefer using nonprofit accounting software. These include industry-specific functions, primarily fund accounting and the real-time collection of donations.
Typically Free Donation Software Features
- Ultimately, this enhanced visibility into finances helps nonprofits make more informed decisions and better serve their mission.
- Fundly is a fundraising platform built to help individuals and organizations create donation pages, share stories, and collect contributions online.
- In addition, Netsuite’s accounting reports are designed to meet the specific needs of nonprofits.
- There’s no one-size-fits-all solution when it comes to bookkeeping software for nonprofits.
- While its core audience is still small teams, the platform is flexible enough for nonprofits managing product sales, event merch, or project-based budgets.
It’s also on the pricier end of accounting software that wasn’t built for nonprofits. If you’re trying to balance a nonprofit budget on, well, a budget, Xero, Zoho Books, and FreshBooks are cheaper options, and Wave Accounting is completely free. 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. Determine if you are likely to be able to afford them and if they include the necessary features your nonprofit needs as it grows. You can also consolidate the financials of multiple global entities into one platform, then connect business management software such as Salesforce. You can consolidate across multiple currencies and local tax codes automatically and in minutes.
Set Up Recurring Giving from Donors
For example, Zoho Books offers support via phone, chat, or email, and users can access the application from any online location. ZipBooks also offers color-coded reports and simple graphs, which make it easier for non-accountants to get an overview of financial performance. This can be helpful for nonprofits that want a quick, visual understanding of their financial status without digging through complicated spreadsheets or reports. With a comprehensive understanding of your needs, use a guide like this one to consider the various options and select the best choice for you. Non-profits need accounting software to maximize their cash on hand and track where every dollar goes. You can contact the support team via phone, chat, or email if you hit a rough patch.
Overall, QuickBooks Online is a powerful accounting tool with some great features. There are no long-term contracts, and users can cancel subscriptions at any time. One of the main benefits of Zoho Books is that it is very user-friendly, even for those who are not familiar with the software. They may be able to throw in additional functionality as a bonus or give you a price break based on prepaying for a full year or other possible discounts. Sage offers some of the best help guides, which can help even technology-averse staff members set up their dashboard as needed.
As a result, Netsuite is an excellent accounting solution for nonprofits of all sizes. QuickBooks Online plans are subscription-based, with prices starting at $10 per month for the Self-Employed plan. QuickBooks also offers a mobile app, which makes it easy to track finances on the go. Overall, QuickBooks Online is a versatile software that can meet the best accounting software for nonprofits 2023 needs of both businesses and nonprofits. Overall, Zoho Books is a flexible and affordable option for small businesses looking for cloud-based software.
Improved financial and reporting automation
Let’s go over the features commonly found in donation software, and which ones are usually included in free vs. paid plans. Zeffy offers a free-forever plan with no transaction fees, allowing unlimited users and donations. Users can create and manage campaigns without any cost, though transaction fees apply.
Best Accounting Software for Nonprofit Organizations and Charitable Groups
Put simply, whatever support format is easiest for your church is available with Realm. All Xero plans offer reporting, payment acceptance, file storage, contact management, tax calculations and the ability to connect Xero to a bank account. Its $42 and $78 plans ($2.10 and $3.90 per month, respectively, for the first three months during the current promotion) add bulk transaction reconciliation, higher bill pay limits, project tracking and analytics. Features include customizable donation forms that you can tailor to fit your organization’s needs.
- Below are my detailed summaries of the best free donation software that made it onto my shortlist.
- Yes, many of the best nonprofit accounting software let you automate grant tracking.
- Furthermore, Quicken provides mobile app access, allowing nonprofit leaders to monitor finances and updates on-the-go for added convenience and flexibility.
- Its free plan includes basic accounting features like invoicing, expense tracking and financial reporting.
QuickBooks is an effective accounting tool for nonprofits with features designed to meet their specific needs. It can help streamline finances, track expenses and income, manage donations, and prepare accurate reports, making it a great choice for nonprofits. The software is easy to use and can be customized to fit the unique needs of any organization. It also offers a variety of features that can help simplify the accounting process.
FastFund is the only cloud-based software as a service that seamlessly integrates nonprofit fund accounting, fundraising CRM and payroll in a single system. This includes income and expense tracking, as well as the ability to generate financial reports. The best accounting software for nonprofits will offer comprehensive security features to protect data from unauthorized access or theft.
What users dislike about Denali Business
The software also offers automated workflows and recurring transaction features to save time, helping nonprofits focus on their mission rather than manual accounting processes. With no payroll tools, Quicken allows solo-run nonprofits that rely on volunteers to perform basic business accounting, such as allocating funds based on donor intent to different categories or budgets. Software4Nonprofits is a donation management tool tailored for small non-profit organizations to manage donations and financial accounts efficiently. Its primary users are small charities and non-profits looking for an affordable and user-friendly solution for tracking donations and managing finances.
Best Nonprofit Accounting Software Shortlist
If you need features like donations tracking, you’ll need to purchase a separate program called Donation, which will cost you an additional $30-$135 per year. With Blackbaud Financial Edge NXT, you can manage your cash flow, accounts payable, and accounts receivable. On the plus side, it integrates with Blackbaud’s Raiser’s Edge, a capable tool for donor management and fundraising. Its strengths include handling complex financial tasks and multi-entity global consolidations, ideal for larger nonprofits. Additionally, Sage Intacct’s real-time reporting tools provide critical insights for effective program and resource planning.