Accounting at a nonprofit can be very specific and non-profit accounting software takes this into account.
There are two types of accounting software for nonprofits, cloud based accounting software for nonprofits and traditional accounting software for nonprofits. These are some of the most common software choices.
Sage Intacct: Best overall
Best overall nonprofit softwareSage Intacct
- Contact for quote
- Fund accounting
- Support for multiple locations and currencies
- Donation tracking and dues management
Sage Intacct sets a high standard for what nonprofit organizers should expect from their fund accounting software. Along with typical accounting features like bank reconciliation, the software has a host of nonprofit-specific tools:
- Donation tracking
- Fundraising, membership, and dues management
- Multi-currency support (for international donations)
- Nonprofit-specific financial reports, including budgeting and forecasting
- Task automation to reduce redundant data entry
Sage Intacct also offers free seminars to help nonprofit organizers get off the ground, which is particularly useful for nonprofits struggling to make ends meet after COVID-19. And on the review site TrustRadius, Sage Intacct gets 8.6 stars out of 101 with customers indicating they’re happy with Sage’s fast customer service response time.
However, Sage Intacct is definitely on the pricy end of the nonprofit software spectrum. (Pricing isn’t listed on the site, so you’ll need to contact Sage Intacct for a quote.) If you’re just launching a nonprofit, Sage Intacct probably isn’t right for you—it works better for established national or international nonprofits with multiple locations and a large staff.
ACCOUNTS from Software4Nonprofits
For small organizations like churches or community organizations, we selected ACCOUNTS as the best accounting software. It’s affordable and easy to use, with all of the necessary features you need to track income and expenses and create reports.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
ACCOUNTS through Software4Nonprofits is a program offered by Cooperstock Software, a small company based in Canada. The company was founded by the treasurer of a religious finance committee because he had difficulties finding software that met his needs. He created ACCOUNTS as an alternative to the more expensive and complex accounting programs available at the time.
ACCOUNTS is an easy-to-use platform designed specifically for small organizations and churches who need basic bookkeeping and accounting services. The program allows you to track income and expenses, track fund balances, associate accounts with lines on your IRS tax forms, and create detailed reports.
If you’re responsible for managing the accounting for multiple organizations, such as the school PTA and your child’s sports team, you can use the software to handle the accounting for both at no additional cost.
The standard version of ACCOUNTS is $130 for the first year. After that, it costs $65 per year. You can try ACCOUNTS for free for 60 days, and you can download the free version online. ACCOUNTS also has a 30-day guarantee if you purchase the program. If you’re not satisfied with your purchase and no longer intend to use it, the company will give you a full refund.
Unfortunately, ACCOUNTS was designed for Microsoft Windows and the desktop version is only available for that operating system. However, there is a cloud-based, browser version called OnDemand that works on most platforms including Mac. Under the standard version, only one user can do data entry at a time. If you upgrade to the local network version—which costs $220 for the first year—up to five users can access the database at once.
If you want to track donations and donor information, you’ll need to purchase additional software. Cooperstock Software offers another program called DONATIONS, which is free if you have 100 donors or less per year. Larger organizations will need the paid version of DONATIONS.
Aplos: Best nonprofit-specific
Best nonprofit-specific accounting softwareAplos
- Starting at $59.00/mo.
- Fund accounting
- Limited multi-currency support
- Donation tracking and support
Data as of 6/18/21. Offers and availability may vary by location and are subject to change.
Aplos’s software has been nonprofit and church-specific since day one. It’s grounded in fund-based accounting, so you don’t need to customize your software’s built-in general ledger for nonprofit-specific accounting needs. Aplos Suite, which starts at $59 a month, includes a full range of features that work for nonprofit and church accounting alike:
- Donor management (CRM software)
- Automated donation receipts, thank-you emails, and donation reminders
- Fundraising campaign management
- Secure online donor portal
- 1099, 990-N, and 990-EZ tax form preparation
If you’re interested in text-to-donate capabilities, you can upgrade to Aplos Suite + Text to Give at $79 a month. And if you own a larger nonprofit with multiple ongoing projects, Aplos’s customized solutions start at $154 a month.
Unfortunately, while Aplos’s nonprofit features stand out, its accounting features are more limited. Only the customized plan includes in-depth income and expense tracking, budgeting by project or fund, asset tracking, and recurring transactions.Get Started with Aplos
QuickBooks Online for Nonprofits: Most user-friendly
Most user-friendly softwareQuickBooks Online
- Starting at $70.00/mo.
- Fund accounting
- Multi-currency and multiple user support
- Donation tracking and reports
Data as of 6/18/21. Offers and availability may vary by location and are subject to change.
QuickBooks Online for Nonprofits offers more thorough nonprofit bookkeeping than many options on our list, with features like income and expense tracking, tax deduction assistance, receipt capturing and organization, bill payment, and inventory tracking. It also has nonprofit-specific financial features that even some nonprofit-specific software lack. (For instance, unlike Aplos, QuickBooks’s cloud-based nonprofit plans let you break down budgets by program or fund.)
Since QuickBooks was also made for non-accountants, it’s easy for first-time nonprofit bookkeepers to get a handle on nonprofit finances. Plus, QuickBooks’s mobile accounting app is at least as user-friendly as its software—so if you plan to do a lot of on-the-go donor management or financial tracking, QuickBooks is one of your best options.What is QuickBooks Enterprise for Nonprofits?
QuickBooks Enterprise Nonprofit is a desktop-based bookkeeping product that starts at $1,275 a year. QuickBooks Desktop lets you store more donors than the cloud-based software does, and it includes in-depth industry-specific reports that QuickBooks Online lacks. Check out our piece comparing QuickBooks Desktop and QuickBooks Online to find out if QuickBooks Enterprise meets your needs.
But even with its extensive accounting features, QuickBooks’s nonprofit software still doesn’t have as many nonprofit-specific features as Sage Intacct and Aplos. 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.Get Started with QuickBooksRead Our QuickBooks Review
NonProfitPlus: Most scalable
Most scalable accounting softwareNonProfitPlus
- Contact for quote
- Fund and encumbrance accounting
- Multicurrency and multiple user support
- Donation tracking and reports
NonProfitPlus’s accounting package includes donor management, board management, and unlimited users for easier delegation. It also offers both fund-based and encumbrance accounting, which makes for easier budget tracking. With so many features, NonProfitPlus is super scalable: as your organization grows, more NonProfitPlus features (for instance, delegation and time tracking) become relevant.
Unlike most software for nonprofits, NonProfitPlus includes inventory management, which is crucial if you stock merchandise (like T-shirts and mugs) to raise money or reward donors. On the other hand, NonProfitPlus doesn’t list any pricing on its site—as with Sage Intacct, you have to get in touch with a representative for a quote. Customers report paying more than $600 a month for NonProfitPlus’s full suite of features, so if you’re looking for affordable nonprofit software, NonProfitPlus probably isn’t it.
Get Started with NonProfitPlus
Araize FastFund Accounting
For organizations that want total remote access, Araize FastFund Accounting is our pick for the best cloud-based solution. It offers comprehensive accounting, fundraising, and payroll services and can be accessed from anywhere in the world.Pros
- You can choose one service or bundle all three
- Monthly training webinars and online video training included
- Can cancel anytime
Cons
- One-on-one training costs extra
- May not be intuitive if you don’t have an accounting background
- Reports not as customizable as they are on other programs
Araize has over 30 years of experience delivering software solutions to nonprofit organizations. With Araize FastFund Accounting, you can get access to a complete cloud-based system. Because FastFund Accounting runs on the cloud, you can access it from any web browser on any device, including Mac, PC, or tablets. You can get your software up and running within a day, and multiple users can use the software at once, making it an ideal cloud-based program.
With the FastFund Accounting platform, you can handle bank reconciliations, generate accounting reports, create budgets for each department and grant, and generate all the data you need to complete the IRS Form 990. The FastFund Accounting program is available for as little as $42 per month, and there is no setup fee. Also, you don’t have to commit to a contract; you can cancel at any time.
Araize offers two other programs you can purchase separately or bundle with the accounting program. With FastFund Fundraising, you can create detailed donor profiles, track cash, pledges, and in-kind gifts, and create customized donor receipts. When bundled with FastFund Accounting, FastFund Fundraising is available for as little as $20 per month, or $42 per month as a standalone product.
With FastFund Payroll, you can also manage your organization’s payroll. You can pay employees through direct deposit or check, allocate money for taxes, and file quarterly payroll taxes. FastFund Payroll starts at $66 per month.
While your fee includes monthly training webinars and online video training, one-on-one training sessions are an additional cost.
In reviews of Araize, many people say the program is robust and powerful. However, if you’re used to pricier programs like Financial Edge, you may find that the reports aren’t as customizable.
Nonprofit+: Best Fund Accounting Software For Large Nonprofits
Nonprofit+ | Visit Site |
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Nonprofit+ is a full ERP that integrates directly with Acumatica to bring nonprofits strong fund accounting and donor management, on top of typical accounting features, such as expense tracking, accounts payable, account receivable time tracking, and more.
One of the best parts about Nonprofit+ is that the UI is incredibly customizable. There are also tons of integration options and built-in customer support. Because it’s a full ERP, the software is on the expensive side, but for larger organizations that want strong fund accounting, Nonprofit+ could be a good choice.
Pros
- Numerous integrations
- Customizable
- Suitable for large organizations
Cons
- Expensive
Nonprofit+ Features
Some of the standout features of Nonprofit+ include:
- Fund accounting
- Grant management
- Encumbrance accounting
- Contact management
- Volunteer management
- Program management
- Reports
- Report writer
Nonprofit+ Pricing
Like most ERPs, Nonprofit+ does not disclose pricing on its website. Custom quotes are created for each individual organization. Contact Nonprofit+ directly for a quote or a free tour of the product.
Nonprofit+ could be a good solution for medium to large nonprofits that are looking for full fund accounting and grant management. The software could also work for smaller, growing organizations that are willing to pay the cost to make sure their grants are handled correctly. Nonprofit+ can be expensive and is not ideal for small organizations. Before committing to the hefty price tag, we highly recommend comparing Nonprofit+ with the other ERPs to ensure that you get the most bang for your buck.
Conclusion
Nonprofits have unique accounting needs. If you’re a staff member or board member of a nonprofit organization, have enough contacts to recommend free software that could meet the needs of your organization – it will help you, your staff and your board members to quickly and easily keep up with all the finances of funding applications, payment processing and reconciliation.
Conclusion
A nonprofit is a company, association or community service providing organization(NGO) that works to fulfill the needs of the community at large. The nonprofit companies are registered with the Internal Revenue Service (IRS). The term “nonprofit” is simply an indication of the fact that the company’s close of more than 5% for operating expenses of more than 5%.