Do you work for a nonprofit organization? Or are you currently managing one? With the crunching of numbers, people tend to overlook the importance of bookkeeping. It is worth noting that small changes lead to millions of dollars in saving or revenue generation. The good thing about nonprofits is that the donations come in without an expectation of return. But still, you need to maintain an organized record of donations and other finances especially if you’re operating under federal funding. There are lots of free bookkeeping software for nonprofits available, but before delving into it, different aspects to consider would include your business size, volume of data entry required, ease of use, budget limitations among others.
Here, we have outlined some book keeping softwares that will help make your work easier and faster. So, here we go, the best book keeping software:
MIP Fund Accounting
MIP Fund Accounting (formerly Abila MIP Fund Accounting) is ideal for all sizes of organizations who need scalable software that’s easy to customize. MIP is supported both on-premise and through a cloud-based platform, plus there’s a mobile app so you can keep up easily.
This nonprofit accounting software offers the following core features:
- General ledger
- Accounts payable/receivable
- Bank reconciliation
- Budgeting and forecasting
- Reporting
Optional features include:
- Payroll
- Timekeeping
- Human resources
- Grant management
- Allocation management
- Fixed assets
- Multi-currency tracking
Best for: Small, medium, and large nonprofits who need accounting software that grows with them.
Free Trial: N/A
Register to schedule a personalized, 30-minute demo!
Accounting Suite by AccuFund
Accounting Suite by AccuFund offers a comprehensive accounting solution for both nonprofits and government agencies. Providing both on-premise and cloud-based deployment options, you can use this anywhere, and it offers a wide variety of features along with robust reporting capabilities.
Core features include:
- General ledger
- Accounts payable
- Financial reporting
- Bill payment and tracking
- Managing cash receipts
- Bank reconciliation
Optional features include:
- Accounts receivable
- Fixed assets tracking
- Requisitions
- Grants management
- Position control
- Loan tracking
- Client invoicing
- Allocation management
- Payroll suite
- Budget and forecasting
- Client accounting
Best for: Government agencies and nonprofits who need a flexible, yet comprehensive solution.
Free Trial: N/A
Register to watch a free demo!
Aplos
Designed for smaller NPOs, school organizations, and churches, Aplos is easy to use and streamlines how you can track donations and gifts. This cloud-based system allows organizations to manage fund accounting and finances and track cash flow while integrating online donation tools, donor database reports, and event registration. This is an all-in-one solution for many organizations.
Core features include:
- General ledger
- Accounts payable and receivable
- Activity tracking
- Asset management
- Bank reconciliation
- Budgeting
- Donor and donation management
- Financial statements and reporting
Advanced Features include:
- Fundraising reporting
- Form 990 reporting
Best for: Small nonprofit organizations and churches who need a simple, user-friendly accounting solution you can access anywhere.
Free Trial: Yes, you can access a free 15-Day trial.
Register to watch a free demo!
Pabbly
Pabbly is specifically designed for small- and medium-sized businesses and is mostly aimed at subscription-based business models. It provides detailed statistics on important metrics, such as revenue, payments, the total number of paying customers and new subscriptions. It also makes it easy to automate various operational aspects, generate invoices and communicate with customers. Pricing starts at $9 per month.
| Pros | Cons |
|---|---|
| Easy to automate | User interface could be better |
| Detailed statistical reports | Needs more custom options |
| Pricing is competitive | |
| Responsive customer support | |
| Hosted checkout pages | |
| No transaction processing fees | |
| Hybrid sales tax functionality |
Who it’s best for: Small and medium businesses
7. Sage 50cloud
Sage 50cloud is a good program for basic tasks, aimed at small and medium businesses. It handles most administrative tasks, like payment tracking, sending invoices and calculating taxes, but you need an additional tool for tracking payroll and employee time. Its pricing starts at $50.50 per month.
| Pros | Cons |
|---|---|
| Robust inventory management | Can be expensive |
| Good customization options | Missing time-tracking functionality |
| Integrates with Microsoft 365 | Mobile apps less intuitive |
| Advanced features | |
| Easily scalable | |
| Customer support | |
| Hybrid sales tax functionality |
Who it’s best for: Small and medium businesses
Wave
Wave is a software app that is ideal for freelancers and businesses with only a few employees, as most of its basic features are free. It lacks some of the advanced features found on other programs, like advanced tracking or project management, but it does basic things well, like send invoices and finance management.
| Pros | Cons |
|---|---|
| Most of basic features are free | Limited to basic functions |
| Solid invoice creation and management | Missing tracking management |
| User-friendly interface and navigation | Basic template options |
| Pre-authorization of transactions | Limited customization |
| Multi-currency support | Mobile app less intuitive |
| Responsive customer support | |
| Hybrid sales tax functionality |
Who it’s best for: Small business and freelancers
Xero
Xero is suitable for business owners and administrators on the go, as all features are available on the mobile app. Functions like invoicing, inventory tracking and purchase order creation can be easily customized and implemented from anywhere, and the connection with your bank account generates regular financial reports sent straight to your device. Its pricing starts at $9 per month.
| Pros | Cons |
|---|---|
| Robust mobile app | Missing check remittance |
| Cloud-based | User interface could be better |
| Solid inventory tracking and invoicing | Customer support |
| Customizable templates | |
| Easy to use | |
| Multiple app integrations | |
| Quick setup |
Who it’s best for: Small businesses or anyone managing financials
GoDaddy Bookkeeping
GoDaddy Bookkeeping is best suited for businesses that sell through a major online marketplace, as it offers seamless back account integration with any of those sites. It can handle basic functions like creating invoices and calculating taxes, but it lacks more advanced functions like project management and detailed reporting. Its pricing starts at $4.99 per month.
| Pros | Cons |
|---|---|
| Basic functionality (invoicing, tax calculations) | Lacks advanced features |
| Bank integration with popular ecommerce sites | Limited reporting features |
| Affordable | Missing project tracking |
| Strong invoicing tools | |
| User interface | |
| Easy to use | |
| Automates quarterly taxes calculation |
Who it’s best for: Small businesses, freelancers
Kashoo
Kashoo is a small business accounting solution that is easy to use, using machine learning technology to categorize payments and helping the user automate certain functions. An unlimited number of users can use an account and it is priced at $19.95 per month or $16.95 if paid upfront for an entire year.
| Pros | Cons |
|---|---|
| Easy to use | Missing product inventory and time tracking |
| Clean interface | Dashboard could be better |
| Payroll app integration | No Android option |
| Project cost tracking | |
| Affordable | |
| Income and expense management | |
| Convenient customer support options |
Who it’s best for: Small businesses
OneUp
OneUp is especially useful for users who need help with pricing and inventory management. It can handle most basic bookkeeping needs and offers easy integration with your bank account. Pricing starts at $9 per month.
| Pros | Cons |
|---|---|
| Easy to use | Customer support could be improved |
| Solid recording functions | Missing payroll function |
| Easy bank integration | |
| Affordable | |
| Good suite of services | |
| Social media integration | |
| Lots of functions available in least expensive plan |
Who it’s best for: Small and medium business, enterprise
AccountEdge Pro
Although it lacks a functional mobile option, AccountEdge Pro can efficiently handle a small- or medium-sized organization’s accounting needs. The interface is intuitive, and all functions can be customized to perfectly fit the business in question. It is available for a one-time fee of $399.
Related: [14 Bookkeeping Basics for Small Business Owners](https://www.indeed.com/career-advice/career-development/bookkeeping-basics)
| Pros | Cons |
|---|---|
| Financial reporting functions | Missing mobile app function |
| Intuitive interface | More expensive than others |
| Customizable functions | |
| Contact database | |
| Automated billing | |
| Easy to use | |
| Responsive customer support |
Who it’s best for: Small and medium business
FreshBooks
Cloud-based financial management and accounting software FreshBooks is not only for SMBs. Nonprofits also do well using this comprehensive platform. The software’s popularity stems from its ability to streamline organizations’ time tracking and invoicing processes. Indeed, sending invoices using FreshBooks takes only a few minutes.
If you run a nonprofit, FreshBooks is just the tool for you. It helps you accelerate the donation process, which can greatly help your organization in its undertakings. It enables donors to send donations through a variety of online payment options that are not only convenient but highly-secure as well. This, along with its invoicing and tracking capabilities, will ensure that your cause is better served.
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FreshBooks continues to receive upgrades that are bound to benefit your organization further. For instance, it has become a collaboration tool and now sports a more visually appealing dashboard that can generate even more customized invoices, which the system can track. Tasks can now likewise be prioritized, thanks to the tool’s time tracking capability, resulting in more transparent accounting, which is a must for nonprofits. Its search functionality has also received a facelift, along with the addition of multicurrency support. The platform comes with mobile apps that support both Android and iOS devices and integrates with third-party applications, including G Suite, Shopify, Stripe, and PayPal. These are but the key Freshbooks benefits; the app goes a long way in terms of ease of use and pricing.
Detailed FreshBooks Review
NetSuite ERP
One of the many NetSuite ERP features is an accounting module that is designed for nonprofits. This system is scalable, and therefore, suitable for businesses of any size. It can automate different business processes, including revenue, order, billing, and inventory management, to name a few. The software can be used by virtually anyone in the organization, from top brass to rank-and-file employees, giving them total visibility into reports and KPIs. It effectively combines financial management and business intelligence, allowing users to drill down into data and come up with sound decisions.
Its fund accounting tool NetSuite for Nonprofits is designed to help users manage all their financial processes. It sports numerous features that are sure to satisfy your accounting requirements while providing you with useful business capabilities.
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The tool effectively cuts costs, improves accountability, and ensures accurate financial management for all types of nonprofits. This helps organizations keep their focus on their missions as they are freed from complexities that come with financial management and accounting. Whether your mission involves local or global communities, Netsuite for Nonprofits can help your organization survive and succeed in its missions as it allows you to maximize the potentials of volunteers, increase external support and help you secure revenue-rich projects.
NetSuite for Nonprofits’ pricing details are not publicly available. You will have to directly contact the vendor and ask for a quote.
Detailed NetSuite ERP Review
Conclusion
Free accounting software for nonprofits. The search for the best free accounting software for nonprofit organizations has been on-going since the creation of nonprofits. Many are still wondering how they can manage their organization’s finances without spending a lot of money. That’s why non-profit organizations are using free bookkeeping software to meet their financial management needs.