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Accounting Software for Fundraising

Is your Nonprofit confused about the benefits of Accounting Software? There is a lot that could be said about this question, but I am going to focus on accounting software for fundraising and other specific types of nonprofit organizations. It is important to understand that accounting software for nonprofits 2021 are just as important to every business as the foundation is to a house. By using them, organizations can keep track of important information in order to operate more efficiently, such as donations and expenses.

No matter what size nonprofit organization you manage, or whether you are a fundraiser at a nonprofit organization that wants to improve its accounting, finding the best software for nonprofits is a big challenge. The big question on the table is: “What is the best nonprofit accounting software out there? I have compiled an overview of a few of the best free accounting programs available for nonprofits in order to make this decision easier for you.

ACCOUNTS from Software4Nonprofits

When it comes to small organizations, such as churches or community organizations, we chose ACCOUNTS as the best accounting software available on the market. You will find that it is both affordable and easy to use, and that it has all of the necessary features you need to keep track of income and expenses, and to create reports for your use.

  • There is a 60-day free trial and a 30-day money back guarantee available
  • A one-year subscription to the standard version of the service costs just $130 
  • Using the program you will be able to keep track of the accounts of multiple organizations at no additional charge (up to 5)

Cons

  • There is only one desktop program that can be used on Windows computers
  • If you want to track donors, you will have to purchase a separate donation program
  • In the standard version of the software, only one user can enter data at a time

There is a program offered by Cooperstock Software, a small business based in Canada, called ACCOUNTS through Software4Nonprofits which provides accounts for nonprofits. Founded by the treasurer of a religious finance committee, the company was created due to the fact that the treasurer was unable to find software that met the requirements of his committee. As an alternative to the more costly and complicated accounting programs that were available at the time, he created ACCOUNTS as an alternative to those programs. 

It is the perfect platform for small organizations who need basic bookkeeping and accounting services. The ACCOUNTS platform is designed specifically for small organizations and churches. You can use the program to keep track of income and expenses, fund balances, and associate accounts with lines on your IRS tax forms, as well as create detailed reports on your income and expenses. 

The software can handle the accounting for both your child’s sport team and the school PTA at no additional cost, if you are responsible for managing both organizations’ accounting. For example, your school PTA and the PTA at your child’s school are both able to use the software for their accounting. 

For the first year of ACCOUNTS, the standard version costs $130 for the first year of use. There is a charge of $65 for the next year after that. There is a free version of ACCOUNTS available online that can be downloaded for a period of 60 days. If you decide to purchase ACCOUNTS, it is also guaranteed for 30 days from the date of purchase. In the event that you are not satisfied with your purchase and do not intend to use it anymore, the company will give you a full refund of the purchase price. 

ACCOUNTS was designed specifically for Microsoft Windows and therefore it is only available as a desktop version for users with that operating system. A cloud-based, browser-based version of the app, called OnDemand, is available for most platforms, including Mac, and is available via the cloud. There is only one user who can enter data at a time under the standard version of the software. In the case of the local network version that costs $220 for the first year, up to five users can access the database at the same time if you upgrade. 

In order to keep track of donations and donor information, you will need to purchase additional software in order to do so. There is another program available from Cooperstock Software called DONATIONS, which is free for organizations with 100 or fewer donors each year. Larger organizations will need the paid version of DONATIONS. 

ACCOUNTS has a 4.7-star rating on Capterra.

Zoho Books

In addition to a powerful accounting engine, beautiful invoicing, a web-based invoicing system, and international support, Zoho Books also boasts enough other features to rival QuickBooks Online. As of right now, Zoho Books does not include a built-in nonprofit management feature, however, there are two nonprofit management modules that can be found in the Zoho Marketplace: Donor Management and Volunteer Portal.

It is worth noting that these two add-ons are completely free, making Zoho Books a very affordable option for small nonprofits and startup nonprofits that need strong accounting software but don’t yet require any other features.

Pros

  • Modules for nonprofit organizations that are free of charge
  • A number of accounting features are available
  • You can get a free plan by clicking here
  • Using it is simple and easy

Cons

  • Suitable for small nonprofits, but not for large ones

Zoho Books Features

There are plenty of great accounting features available with Zoho Books, including invoicing, inventory, expense tracking, mileage tracking, and much more. With one of its add-ons for your nonprofit, you can get even more benefit from the software and get even more out of it.

By adding Donor Management to your account, you will be able to access the following features:

  • Donor, volunteer, and visitor database that can be accessed by the public
  • Contributions can be managed in a variety of ways
  • Make a donation request
  • Application for donations

With the Volunteer Portal add-on, you get these features:

  • Management of contacts
  • Management of donors
  • Management of volunteers
  • Managing the tasks of volunteers
  • Planning an event can be a challenging task
  • Registration for an event
  • The latest reports

Zoho Books Pricing

It is important to note that Zoho Books offers four different plans, one of which is completely free. You will have to upgrade to a paid plan if you wish to have access to more features and users. It is possible to choose from paid plans that range from $20/month to $70/month, although you can get a discount if you pay annually. As of right now, both the Donor Management and Volunteer Portal add-ons are completely free of charge and they can be found in the Marketplace of Zoho Books.

A great option for new/small nonprofits who are looking for strong accounting and donor or volunteer management as well as a great accounting system is Zoho Books. With this cloud-based accounting software for nonprofits, you can keep track of your finances easily, and the app offers a number of exciting features. There are many larger nonprofits that will find this option to be too limiting, but if your nonprofit is looking for a more affordable way to keep the books, this might be the best solution for you.

Financial Edge by Blackbaud

Financial Edge is the obvious choice for large organizations that are looking for enterprise-level accounting solutions. With this software, you can integrate it with your favorite donor and constituent management program, Raiser’s Edge, and keep track of expenses and budgets across multiple fiscal years using Raiser’s Edge. Pros

  • Remotely managed cloud-based software that is accessible from anywhere in the world
  • The software integrates with the Raiser’s Edge donor management system

Cons

  • There is a lack of transparency on the website when it comes to pricing

It should be noted that Financial Edge is a product released by Blackbaud, a leading software company that caters to nonprofit organizations, educational institutions, and hospitals, as well as healthcare facilities. In over a hundred countries around the world, it serves millions of users. 

If you are a large nonprofit organization with a large number of employees and a large donor base, Financial Edge is a fantastic option and one of our top choices for large organizations with a lot of accounting needs.

You can use Financial Edge from any laptop as it is a cloud-based program, so you can access it from anywhere. It is possible to create budgets, track expenses, manage cash flow, and maintain a general ledger using Financial Edge software. There are many features in the software, such as the ability to forecast different scenarios and budget across fiscal years, enabling you to create detailed budgets. 

In addition, Financial Edge integrates with Blackbaud’s Raiser’s Edge, the industry standard program for donor management and fundraising management, to ensure that all your organization’s fundraising and donor management efforts are coordinated.  

Despite the fact that the pricing for Financial Edge was not readily available on the site, Financial Edge was given a 4.2-star rating on Capterra.

Sumac by Silent Partner

Our review of Sumac shows that it is the best choice among nonprofit organizations when it comes to customizing donation tracking and donor management tools. A powerful fundraising tool that is affordable, offers free training sessions, and comes with built-in email marketing capabilities, Sumac is an excellent choice.

  • Affordable pricing and different packages available
  • It is possible for staff and volunteers to access the databases simultaneously from anywhere in the world 
  • Profiles of donors that can be customized

Cons

  • There are no general accounting capabilities included in this product
  • There may be an additional charge for implementation services and data migration
  • A $150 per hour fee will be charged for additional training

In many cases, small and midsize non-profit organizations have excellent accounting software and manage their finances well, however when it comes to donor management and the tracking of donations, they need help. If you are reliant on multiple spreadsheets or outdated databases in your organization, Sumac can be a cost-effective upgrade that allows you to streamline how you work with your constituents. 

In 2003, Sumac was launched. Since then, it has supported thousands of nonprofit professionals all over the world. Since Sumac became part of Silent Partner Software Inc in 2018, it has been offered alongside other products such as PartnerHR, as a part of their platform. 

The fundraising software offered by Sumac allows employees to access critical data from any location, as well as to view databases simultaneously, so they always have the most up-to-date information at their fingertips. With this program, you are able to create customizable donor profiles so you can adjust fields according to the needs of your organization. 

It is possible to view each donor’s history with your organization within Sumac, which includes past donations, communications, and past interactions with the organization. In order to make sure that key donors are being followed up with, you can also create reminders. 

Your bookkeeper or accountant can use the information from the donation form to create ledger entries and generate reports, and you can use this information to create summary reports for your annual giving campaigns. 

In general, the price for Sumac ranges between $35 a month and $250 a month, depending on the needs and number of records of your organization. The use of other services, such as accepting online donations, managing a website, and registering for courses, is subject to an additional charge. Your fee includes free training, which is included in your fee. In the event that you need additional training, you will have to pay $150 per hour if you require more time. 

There is a 4.3-star rating for Sumac on Capterra

Araize FastFund Accounting

For organizations that are looking for a full-featured cloud-based accounting solution that allows for total remote access, Araize FastFund Accounting is our top recommendation. You can access it from anywhere in the world, and it provides comprehensive accounting, fundraising, and payroll services. It is a very reliable service.

  • Depending on your needs, you can choose one of the three services or bundle all three together
  • Training webinars and online video training are available on a monthly basis
  • If you wish to cancel, you can do so at any time

Cons

  • There is an additional charge for one-on-one training
  • It may not be intuitive if you do not have a background in accounting
  • There is not as much customization available in reports as there is in other programs

Founded in 1985, Araize has been delivering software solutions to nonprofit organizations for over 30 years. You can have access to a complete cloud-based accounting system with Araize FastFund Accounting when you use this program. FastFund Accounting is a cloud-based program, which means that it can be accessed from any web browser on any device, including a Mac, PC, or tablet, because it runs on the cloud. In less than a day, you will be able to get your software up and running, and multiple users can use the program at the same time, making it an ideal software for cloud-based applications. 

It is possible to perform bank reconciliations, generate accounting reports, create budgets for each department and grant, as well as generate all the data you need to complete the IRS Form 990 using the FastFund Accounting platform. It is possible to start using FastFund Accounting for as little as $42 per month, and there is no setup fee that has to be paid. It is also very important to note that you are not required to sign a contract; you can cancel at any time

Besides the accounting program, Araize also offers a couple of other programs that are available separately or as part of a bundle. With FastFund Fundraising, you will be able to create detailed profiles of your donors, track cash, pledges, and in-kind gifts, as well as create customized donor receipts for all of your donors. FastFund Fundraising can be purchased as part of FastFund Accounting for as little as $20 per month, or as a standalone product for as little as $42 per month when it is bundled with FastFund Accounting. 

FastFund Payroll is a payroll management tool that enables you to manage the payroll of your organization. Direct deposit or check can be used to pay your employees. You can also allocate money for taxes and file your payroll taxes on a quarterly basis. The cost of FastFund Payroll starts at $66 per month and goes up from there.  

You will receive monthly webinars and online video training as part of your fee, but one-on-one training sessions are an additional cost that you will need to pay. 

As many people have expressed in their reviews of Araize that it is a powerful and robust program. As a disadvantage, if you’re used to more expensive programs, such as Financial Edge, you may find that the reports are not as customizable as you’re used to. 

On Capterra, Araize has a rating of 4.5 stars out of 5

Conclusion:

As of 2021, it’s much easier than you may think to find accounting software for fundraising purposes. A number of top accounting software programs can easily meet the needs of non-profit organizations, and there are hundreds of them to choose from. It has now become possible to get fundraising accounting software of many different types, such as free Excel templates, cloud-based systems, and a lot more. In the end, whatever accounting software for nonprofits you choose, you should be able to find something that will fit your fundraising organization’s needs to the best extent possible.

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