What kind of animal are you—a dolphin, a polar bear, or a panda? It’s possible that you’re one of the less well-known animals that inhabit the animal kingdom. No matter what kind of animal you are, you and I both belong to the nonprofit sector. However, some charitable organizations are far larger than others. How, therefore, can you manage accounting software for large charitable organizations if your own organization is very small? Does it make sense for charitable organizations to use accounting software that is free of charge? We shall take a look at accounting software for large nonprofits in a jiffy!
A good number of us have the impression that we know very little about accounting software. It is difficult to understand, not to mention dull. This might be discouraging for the owners of small businesses who are only attempting to maintain their businesses, meet their payroll obligations on schedule, and guarantee the financial security of their organizations. However, without this information, you leave yourself susceptible to deception, which is why it is not something that should be ignored or put off until a later time.
Zoho Books
and a sufficient number of other features. Donor Management and Volunteer Portal are two nonprofit modules that can be obtained in the Zoho Marketplace. Zoho Books itself does not have any built-in features that are specific to nonprofit organizations.
Due to the fact that these two add-ons are available at no additional cost, Zoho Books can be a very cost-effective choice for newer and smaller charity organizations that want reliable accounting but don’t currently require other functionality.
Pros
- Free nonprofit modules
- Numerous accounting features
- Free plan available
- Easy to use
Cons
Not suitable for large nonprofits
Zoho Books Features
With Zoho Books, you’ll get plenty of great accounting features including invoicing, inventory, expense tracking, mileage tracking, and more. You can get even more from the software by using one of its add-ons for your nonprofit.
With the Donor Management add-on, you have access to:
- Database of donors, volunteers, and visitors
- Manage donations
- Request donations
- Donation application
With the Volunteer Portal add-on, you get these features:
- Contact management
- Donor management
- Volunteer management
- Manage volunteer tasks
- Event planning
- Event registration
- Reports
Zoho Books Pricing
Zoho Books has four plans, including a new plan that’s completely free. If you want access to more features and users, you will have to upgrade to a paid plan. Paid plans range from $20/month to $70/month, although you can get a discount by paying annually. Both the Donor Management and Volunteer Portal add-ons are completely free and can be found in the Zoho Books Marketplace.
Zoho Books is a great option for new/small nonprofits that need strong accounting as well as donor or volunteer management. This cloud-based accounting nonprofit accounting software is easy to use and offers strong mobile apps. Many larger nonprofits will find this option too limited, but for nonprofits looking for an affordable way to keep the books, this could be the way to go.
ACCOUNTS from Software4Nonprofits
Our research led us to conclude that ACCOUNTS is the most suitable accounting software for use by smaller businesses such as churches and community groups. It is inexpensive and simple to use, and it comes equipped with all of the tools that are required to generate reports and keep track of revenue and expenses.
Pros
- 60-day free trial and 30-day money back guarantee
- The standard version costs just $130 for the first year
The program can be used for the accounting of multiple organizations (up to 5) at no additional cost
Cons
- The desktop program can only be used on Windows
- You have to purchase a separate donation program to track donors
- Only one user can do data entry at a time with the standard version
Cooperstock Software, a little organization with its headquarters in Canada, is the provider of the product known as ACCOUNTS through Software4Nonprofits. Because the treasurer of a religious finance committee struggled to locate software that satisfied his requirements, he decided to start his own business and call it “Religious Finance Software.” In response to the more expensive and difficult accounting software that was available at the time, he developed an alternative called ACCOUNTS.
ACCOUNTS is a straightforward, user-friendly platform that was developed primarily for small enterprises and churches that require fundamental bookkeeping and accounting services. The tool gives you the ability to monitor your income and expenses, keep tabs on your fund levels, correlate accounts with lines on your tax forms with the IRS, and generate thorough reports.
You can use the software to handle the accounting for both organizations at no additional cost. For example, if you are responsible for managing the accounting for multiple organizations, such as the school PTA and the sports team your child plays on, you can use the software to handle the accounting for both organizations.
The initial year’s subscription fee for the regular version of ACCOUNTS is $130. After that, the fee is $65 for each subsequent year. You are free to try out ACCOUNTS without cost for a period of sixty days, and the free version can be downloaded from the website. If you purchase the program, ACCOUNTS also includes a 30-day money-back guarantee. You are eligible for a complete refund from the company if you are unhappy with your purchase and do not intend to use it in the foreseeable future.
Regrettably, ACCOUNTS was developed for Microsoft Windows, and the desktop version of the software is only available for use on computers running Microsoft Windows. On the other hand, there is a browser-based, cloud-based version of the software referred to as OnDemand that is compatible with most platforms. In the default configuration, only one user at a time is permitted to enter data into the system. Up to five users will be able to access the database simultaneously if you upgrade to the local network version, which will cost you an additional $220 for the first year.
You will need to invest in supplementary software if you plan to monitor donations and maintain records of donors’ details. Another product offered by Cooperstock Software is called DONATIONS. If you have fewer than 100 donors in a year, this application is free for you to use. The paid version of DONATIONS is going to be necessary for larger organizations.
ACCOUNTS has a 4.7-star rating on Capterra.
Financial Edge by Blackbaud
There is no question that Financial Edge is the best option for large companies that require accounting at the enterprise level. It lets you to track spending and budgets over fiscal years and connects with Raiser’s Edge, the industry standard application for donor and constituent management.
Pros
- software hosted in the cloud that can be accessed and managed remotely
- Raiser’s Edge, which is a donation management software, can be integrated.
Cons
There is a lack of clarity on price on the site.
Blackbaud is a renowned software firm that specializes in providing their services to educational institutions, healthcare facilities, and nonprofit organizations. One of the products that they have developed is called Financial Edge. It provides services to millions of customers in more than a hundred countries all over the world.
Financial Edge can be a good fit for large nonprofit organizations, particularly those that have major accounting demands in addition to staff and a huge donor network. In fact, we recommend Financial Edge as the best option for large companies to use.
Because it is a program that runs in the cloud, Financial Edge may be accessed and used from any laptop. You are able to build budgets, keep track of costs, manage cash flow, and handle the general ledger with the assistance of Financial Edge. As a result of its advanced budgeting capabilities, it enables users to make predictions based on a variety of scenarios and to budget across multiple fiscal years.
Raiser’s Edge from Blackbaud is the industry-leading program for donor management and fundraising. Financial Edge from Blackbaud interacts with Raiser’s Edge, so you can be sure that all of your organization’s activities are working together cohesively.
The pricing information for Financial Edge was not easily accessible on the company website; however, Capterra gives Financial Edge a rating of 4.2 out of 5 stars.
Sumac Was Performed by Silent Partner.
In our research, we found that Sumac is the best option for charity organizations that want tools for donor management and donation tracking that can be customized. Sumac is an effective fundraising tool since it has reasonable price, offers free training sessions, and already has email marketing built in.
Pros
- Prices that are affordable, as well as a variety of package options
- Databases are accessible in real time by both paid employees and unpaid volunteers from any location.
- Customizable donor profiles
Cons
- Does not offer skills for general accounting in its scope.
- There may be additional costs associated with data migration and implementation services.
- Additional training can be purchased for $150 an hour.
A large number of smaller and medium-sized nonprofit organizations require assistance with donor management and donation tracking, despite the fact that many of them make use of high-quality accounting software and maintain their financials in order. Sumac is an economical upgrade that can help you streamline the way in which you work with your people if you are currently dependent on various spreadsheets or databases that are out of date.
Sumac was established in 2003 and currently provides assistance to thousands of professionals working in the nonprofit sector all around the world. Sumac was incorporated into Silent Partner Software Inc. in 2018, and it is now made available alongside other products such as PartnerHR.
Because the workers at Sumac can access crucial data from anywhere via the fundraising program, and because they can see databases simultaneously, they always have the most recent information at their fingertips. You will have the ability to construct donor profiles that may be customized to match the requirements of your organization thanks to the program’s functionality.
Inside of Sumac, you will have the ability to view the complete history of each donor’s relationship with your organization, including all previous donations and communications. In addition, you have the option of creating reminders to follow up with important donors.
You can summarize annual giving reports and convert donation details into ledger entries and reports for your bookkeeper or accountant to use. Annual giving reports can also be generated by you.
Depending on the requirements of your company and the amount of data it needs to store, the cost of using Sumac might range anywhere from $35 to $250 or more per month. Additional payments are required for the use of certain services, including the acceptance of online donations, management of websites, and registration for classes. You are eligible for free training as part of your payment. If you require extra training, you will be charged $150 per hour for such training.
On Capterra, Sumac has earned a rating of 4.3 stars.
Accounting by Araize FastFund.
Araize FastFund Accounting is the greatest cloud-based solution, in our opinion, for businesses who desire complete control over their financial data from a remote location. It is possible to gain access to these services from any location in the world, and they include extensive bookkeeping, fundraising, and payroll functions.
Pros
- You have the option of selecting one service or purchasing all three together.
- Training webinars and online video training are provided on a monthly basis.
- Can cancel anytime
Cons
- Private tutoring comes at an additional expense.
- It’s possible that you won’t find it obvious if you don’t come from an accounting background.
- There is a limited amount of personalization available compared to other programs’ reports.
Araize offers more than three decades of experience in the provision of software solutions to charitable organizations. You will have access to a comprehensive cloud-based system if you go with Araize FastFund Accounting as your accounting software of choice. Because it is hosted in the cloud, FastFund Accounting is accessible through any web browser on any device, including personal computers, tablets, and even Macs. Because it takes less than a day to get your software up and running, and because numerous users can use the software at the same time, it is a great candidate for hosting in the cloud.
You will be able to conduct bank reconciliations, prepare accounting reports, build budgets for each department and grant, and generate all of the data you need to complete the IRS Form 990 if you use the platform that is provided by FastFund Accounting. The FastFund Accounting software may be purchased for as little as $42 per month, and there is no initial cost associated with setting it up. You are not required to make a commitment to a contract, and you are free to cancel at any time.
You have the option to purchase the accounting program individually or as part of a bundle that includes Araize’s other two programs. You are able to construct thorough donor profiles using FastFund Fundraising, as well as manage financial donations, promises, and gifts in kind, and generate individualized receipts for donors. When purchased in conjunction with FastFund Accounting, FastFund Fundraising may be had for as little as $20 per month, however purchasing it separately will set you back $42 per month.
You’ll also have the ability to manage the payroll for your organization when you use FastFund Payroll. You can choose to pay your employees via direct deposit or via check, you can set aside money for taxes, and you can file payroll taxes quarterly. The monthly cost of FastFund Payroll begins at $66.60.
One-on-one training sessions come at an additional cost and are not included in the monthly training webinars and online video training that are included in your fee.
Many users have mentioned in their assessments of Araize how robust and strong the program is. On the other hand, if you’re used to more expensive applications like Financial Edge, you could discover that the reports aren’t as modifiable as they are with this one.
Conclusion:
People in large nonprofits are often looking for a great accounting software to help manage their tasks easily. It is also important for them to find the best accounting software for their nonprofit business.