Every nonprofit organization in this world require the help of outside donations to run and sustain all their activities. These donations help them to create awareness about their work and provide much-needed materials and resources.
So, free accounting software for nonprofits is something that every nonprofit organization needs in order to deal with such issues. And such organizations use different types of accounting software including Commercial Small business packages, Accounting & Bookkeeping Software For Nonprofits. Here are a few accounting softwares that you will need.
Sumac: Best Customizable Nonprofit Software
Sumac | Visit Site |
|---|
Sumac is a locally-installed nonprofit accounting solution founded on the phrase “do more good.” The software offers everything from CRM to pledges to course registration and more. The cool thing about Sumac is that you can customize it to fit the needs of whatever type of nonprofit you run.
Sumac also integrates seamlessly with QuickBooks Desktop and QuickBooks Online. If you’re using one of these programs, Sumac can give you access to the nonprofit-specific features that QuickBooks lacks.
Pros
- Fully customizable
- Locally-installed software
- Numerous features & add-ons
Cons
- Expensive
Sumac Features
With Sumac, you start by purchasing the Basic CRM and then buying any other add-ons your nonprofit needs. Basic CRM includes:
- Contact management
- Reporting
- Email marketing
- Donation management
- Event management
- Time tracking
- Invoicing
Here are the additional features that you can add to Sumac (prices for these add-ons vary):
- Memberships
- Volunteers
- Grant management
- Pledges
- Ticketing
- Reminders
- Course registration
- Forms
- Tour booking
- Proposals/prospecting
- Auctions
- Sales
- Auditions and submissions
- Job search
- Collection management
- Awarding grants
If you require something beyond these offerings, you can purchase a custom add-on as well.
Sumac Pricing
Sumac offers four pricing plans from $35/month to $250/month. Add-ons start at $60/month. You can also contact Sumac to create a custom plan for your organization.
The appeal of Sumac is that the software is incredibly customizable to your specific nonprofits’ needs Sumac is a good solution for mid- to large-sized businesses, especially if you need complex features, such as tour booking, course registration, auditions and submissions, etc. Sumac’s paid plans are not ideal for small nonprofits on a budget, especially considering the additional cost of QuickBooks Online or Desktop if you choose to go this route.
Sparkrock: Best Fund Accounting For K12 Board Management
Sparkrock | Visit Site |
|---|
Founded in 2003, Sparkrock is a fund accounting program helping over 25,000 organizations. While the software is potentially the most expensive of the whole list, we left it in the post for one key reason: K12 board management.
Sparkrock is the only software on the list to offer this feature. It also provides HR and training and certificate management. If your nonprofit organization needs these features, then the price may be worth the tradeoff.
Pros
- K12 board management
- Unique nonprofit-specific features
- Suitable for large organizations
Cons
- Expensive
Sparkrock Features
While Sparkrock doesn’t offer as many features as the other programs on this list, it does come with a few unique functions. Here’s a sampling of Sparkrock’s capabilities:
- Fund accounting
- Grant management
- Reports
- K12 board management
- Employee scheduling
- HR
- Payroll
- Training and certificate management
Sparkrock Pricing
Sparkrock creates a custom quote for every organization, so you will need to contact the company for more pricing information. Adding workflow management or scheduling to your subscription bumps the price up even higher. Previous pricing details provided by the company show that you should expect to pay $2,000+/month.
We know that Sparkrock is not going to be for everyone, but for the nonprofit organization looking for K12 board management and HR support, Sparkrock may be a good option. Granted, the software is very expensive and might not be the best software for nonprofits on a budget, but with larger organizations, this may be less of a concern.
MoneyMinder: Best For Volunteer-Run Nonprofits
MoneyMinder | Visit Site |
|---|
While having loads of features is great for some organizations, for others it may be overkill. That’s where MoneyMinder comes in. MoneyMinder offers the basic features nonprofits need in its easy-to-use cloud-based software.
Even if you have no prior accounting or bookkeeping software experience, MoneyMinder is easy to learn. It’s a great option for treasurers overseeing volunteer-run nonprofit organizations, providing a simple and straightforward way to track payments, create budgets, and run annual reports.
Pros
- Easy to use
- Free version available
- Affordable
Cons
- Lacks advanced features
MoneyMinder Features
While it doesn’t have the advanced features you’ll find with other programs on this list, MoneyMinder offers a nice set of basic features ideal for smaller nonprofits seeking a simple accounting solution. Features include:
- Bookkeeping tools
- Dues tracking
- Membership management
- Bank reconciliation
- Fundraising & payment tracking
- Contact management
- Budgeting
- Integrations with PayPal & Square
- Donation tracking
- Volunteer hour tracking
- 990EZ & 1099 reporting
- Online store
MoneyMinder Pricing
There are two plans available. The first plan is completely free and doesn’t require a credit card. However, this plan is limited to budgets, calendar tools, and membership tracking. If you want to have access to all available features, you’ll need to upgrade to the MoneyMinder Pro plan which is priced at a very affordable $159/year. A 30-day free trial is available.
If you want advanced nonprofit accounting tools or operate a large organization, MoneyMinder probably isn’t the right choice for your business. However, if you operate a smaller nonprofit or a volunteer-run organization and want a simple accounting solution, MoneyMinder is worth a try. And with a free plan and 30-day free trial, you have nothing to lose.
Araize: Best All-In-One Fundraising, Payroll & Accounting Solution
Araize | Visit Site |
|---|
If you’re looking for an all-in-one software solution for your nonprofit, consider giving Araize’s FastFund Online a shot. Araize calls this the “total solution” for fundraising, payroll, and accounting for nonprofits of any size in any sector — from churches and schools to community and healthcare organizations. FasyFund Online is also a good choice for smaller government organizations.
FastFund Online has several plans available, so you can customize the software to the unique needs of your nonprofit. Witha. wide range of accounting features, a fundraising CRM, and built-in payroll, you can spend less time on accounting and bookkeeping and more time focusing on the goals of your nonprofit.
Pros
- Customizable
- Suitable for nonprofits of any size
- All-in-one solution
Cons
- May be expensive
Araize Features
With Araize’s FastFund Online, the features you can access depend on the plans you sign up for. Some notable features available include:
- Credit card & ACH donation processing
- Text2Give & website donations
- Customizable chart of accounts
- Custom financial statements & reports
- Revenue & expense tracking
- Campaign management
- Membership management
- Pledge reminders
- Donor tracking
- Built-in payroll
Araize Pricing
FastFund Accounting starts at $42/month. FastFund Fundraising CRM can be
added to your accounting plan starting at $20/month, or as a standalone service starting at $42/month. Payroll can be added for an additional fee starting at $66/month.
Araize FastFund Online provides a total software solution that allows you to keep track of your finances, manage your fundraising, and pay your employees. While pricing can add up based on the needs of your organization, it’s actually quite competitive, especially with bundled discounts offered by Araize. FastFund Online has a number of great features that make it a solid choice for any nonprofit organization. If you want to see it in action, contact Araize to schedule your free demo.
Wave
Best Free Nonprofit Accounting Software for Treasurers of Very Small Nonprofits
PROS
- Easy to use even for nonaccountants
- Completely free forever
- Ideal for simple nonprofit organizations
- Bookkeeping assistance available via Wave Advisors
CONS
- Lacks specialized features for nonprofits
- Not a good fit for large nonprofits
- Multiple apps instead of a single full-featured app
- No tools for managing restricted funds
Overall Score3.26OUT OF5
| RATING CRITERIA | PRICING | 5.00 | OUT OF | 5 |
| EASE OF USE | 4.13 | OUT OF | 5 | |
| GENERAL FEATURES | 4.75 | OUT OF | 5 | |
| NONPROFIT FEATURES | 0.75 | OUT OF | 5 | |
| EXPERT ANALYSIS | 2.00 | OUT OF | 5 |
Expert Opinion
Just like QuickBooks Online, Wave has no industry-specific features, but it’s flexible enough to be included in our best nonprofit accounting software. If you are a volunteer treasurer for a small charity, then Wave is suitable software for accumulating your income and expenses. Wave doesn’t offer departmental comparison or analysis, so it doesn’t work if you receive restricted funds. Nevertheless, Wave has a good set of features to streamline accounting for donations, tax receipts, and payroll. Nonprofits with multiple locations can also set up and manage multiple entities with Wave. While Wave is easy to use, even for novice accountants or treasurers, you can seek personalized coaching from a Wave Advisor.
Wave Pricing
Wave’s accounting, invoicing, and receipt tracking features are free. It only charges fees for processing credit card, bank payments, and payroll transactions:
- Accounting, invoicing, and receipt tracking: Free
- Credit card processing: 2.9% + 30 cents per transaction (for most cards) and 3.4% + 30 cents (for American Express)
- Bank payments: $1 per transaction
- Payroll:
- $35 per month plus $6 per employee or independent contractor for users living in tax-service states (Arizona, California, Florida, Georgia, Illinois, Indiana, Minnesota, New York, North Carolina, Tennessee, Texas, Virginia, Washington, and Wisconsin). If you live in one of these states, Wave can process your tax payments and file the paperwork with state agencies and the IRS.
- $20 per month plus $6 per employee or independent contractor for users living in the remaining 36 states. These states are self-service, which means that Wave only calculates payroll taxes, but you have to pay and file the required paperwork yourself.
Blackbaud
Best for Nonprofits Relying on Large Grants for Support
First founded in 1981, Blackbaud has had a long time to secure its name and reputation in the nonprofit accounting world. The company offers dozens of different products designed for various organizations and nonprofits. But its bread and butter is Financial Edge NXT.
Financial Edge NXT is a cloud accounting solution for mid-sized nonprofits that is used by over 5,500 organizations. The software offers strong accounting and basic nonprofit features. The interface is beautifully designed and well organized. The company also offers strong security and free chat support.
Pros
- Numerous accounting features
- Customizable
Cons
- Expensive
Blackbaud Features
Financial Edge provides a wide array of features and meets the accounting standards nonprofits need. Some of these features include:
- Fund accounting
- Chart of accounts
- Bank reconciliation
- Accounts payable
- Accounts receivable
- Journal entries
- 100+ customizable reports
- Manage grants and allocations
- Budgeting
- Invoicing
- Purchase orders
- Track revenue and expenses
- Project management
- Vendor management
- Document storage
- Fixed assets
- Payroll
Blackbaud Pricing
Blackbaud does not publicly disclose pricing information. Withholding specific pricing information is a common practice for ERP solutions, as quotes are usually highly tailored to an organization’s individual needs. Blackbaud also offers a separate nonprofit fundraising and member management software called Raiser’s Edge NXT. Contact Blackbaud to learn more about its products and pricing.
According to Blackbaud, its software is ideal for mid-sized nonprofits that have a decent-sized staff and handle $1,000,000+ in revenue each year (or are steadily growing to meet these standards). As one of the leading names in nonprofit accounting, Blackbaud delivers great features. The question of pricing is still a huge factor for many nonprofits, but the features are worth a look at the very least.
Intacct: Best Financial Reporting
Intacct | Visit Site |
|---|
If you want to optimize and improve the financial situation of your nonprofit, Sage Intacct can help. This fund accounting software not only has the accounting features you need but also offers real-time visibility to effectively manage the growth of your nonprofit.
Intacct is cloud-based software that is fully customized to the needs of your nonprofit. You’ll find a lot of great features with this software that you won’t find with other programs, including outcome metrics and compliance reporting.
Pros
- Excellent reporting features
- Numerous accounting features
- Customizable
Cons
- Expensive
Intacct Features
Intacct has many great features tailored to nonprofit organizations, and its reporting features are pretty much unmatched. Some of the features available in this software include:
- Accounts payable
- Accounts receivable
- Order management
- Multi-entity & global consolidations
- Automated workflows
- Grant tracking & billing
- Nonprofit digital board book
- Spend management
- Nonprofit revenue recognition
Intacct Pricing
Because it is a customized solution, you will need to contact Sage Intaact for a quote. However, Sage does note that most customers spend between $6,000 and $35,000 on an annual subscription. While this may be a little steep for smaller nonprofits, larger nonprofits may find the expense well worth the cost.
If you’re looking for a personalized nonprofit accounting solution with plenty of features and excellent reporting, Intacct is worth looking into. Contact Sage for your quote and demo to learn more.
Conclusion
Nonprofit accounting software is a type of accounting software designed with the requirements of nonprofit organizations. Nonprofit accounting software provides straightforward and efficient tracking of donations and money received from any source, as well as contributes to the transparency of non-profit organizations. It helps keep all numbers in check and can often be found as part of a complete ERP system. So, get familiar with your softwares.