Being a non-profit organization doesn’t mean that you can’t enjoy having everything you need at hand. It is possible to find the best nonprofit accounting software 2021 and begin tracking all your financial data.
A lot of people think that this kind of software is too expensive for those who are not able to spend a lot of money on it. This is not true and there are numerous options available for free and at affordable prices.
Nonprofit Treasurer
As its name suggests, Nonprofit Treasurer was created specifically to meet the needs of small nonprofit organizations, such as parent-teacher associations, homeowners associations, professional association chapters, youth sports clubs, and more. With its integrated reporting and budgeting tools, this program is this free and easy-to-use. It is designed to make life easier for volunteer treasurers and other board members when it comes to financial management and oversight, along with all nonprofit accounting needs.
GNUCash
This free software program can be useful for small nonprofit organizations. It is an open source program that has some characteristics of Quicken and some small business accounting features. This software will allow you to create a multitude of reports, but you may need to export some data in Excel to complete them. You can use this software on Windows, Mac, or Linux systems.
Adminsoft Accounts
This software is a full double-entry accounting system and even allows you to manage payroll if needed. It will run on any system running a Windows platform and on Mac or Linux machines in certain situations.
BS1 Free Accounting
BS1 software works for small businesses and allows you to establish your files in different currency formats, which would allow you to manage international billing or purchasing. You can also create user-defined financial statements. You can upgrade for a fee to get your software customized if you would like.
Lazy8 Ledger
This free accounting program is a double-entry accounting program that is designed for users who are knowledgeable about bookkeeping practices. Your organization can also follow receipts and payments automatically. This program can also run on Windows, Linux, and Mac systems.
LedgerLite
This free accounting software by Responsive Software runs on Windows systems. This shareware program is a double-entry ledger system that can be scaled upward as your organization grows. One of the benefits for non-profit organizations is that you can also calculate account balances when you want rather than only on a quarterly or yearly calendar.
FrontAccounting ERP
This is an open source solution for small businesses, making it a good option for nonprofit organizations. This program lets you keep up with bank accounts, general ledgers, and different reports. You can have multiple user access and can use this program on Windows, Linux, and Mac.
ZipBooks
The free version of ZipBooks can be helpful for nonprofits looking for a software application to handle basic accounting functions. Program features include unlimited invoicing, digital payment processing via Paypal or Square, basic reports, and management of vendors and customers (such as members or donors). One bank account can be connected to the program.
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.
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Zoho Books: Best automation
Best automation
- Starting at $15.00/mo.* (15% off for registered nonprofits)
- Fund and encumbrance accounting
- Multi-currency support (pricier plans only) and multiple user support
- Donation tracking and support
Data as of 6/18/21. Offers and availability may vary by location and are subject to change.
*When billed annually
Zoho Books’s thorough reporting features include expense reports that simplify transparency and fund tracking. Zoho Books excels at collaboration—you can delegate as many tasks as you need to other organization members. (While users are limited by plan, you can add additional users to any plan for $2.50 per month per user.) Like Sage Intacct, Zoho Books uses automated workflows to streamline data entry and consolidate redundant tasks.
But if you want to accept donations (which you undoubtedly do) you can’t just sign up for Zoho Books. You also need Zoho Checkout, Zoho’s payment portal. Zoho Checkout is free as long as you accept only 50 donations—ever, not per month. Clients that need unlimited donations in multiple currencies will need to add a $9-a-month Zoho Checkout plan to their existing Zoho Books plan.
Still, Zoho Books offers 15% off its starting price for registered nonprofits, which helps lighten some of the fiscal load.
QuickBooks Desktop Premier for Nonprofits
If you’re a larger nonprofit organization that needs one of the most robust accounting software solutions on the market, you might consider QuickBooks Desktop Premier as the best option for you. With QuickBooks Premier, as opposed to Desktop Pro, you’ll be able to access an industry-specific platform designed for nonprofit organizations.
Unlike QuickBooks Online, however, QuickBooks Premier is a desktop-based solution, meaning it must be downloaded to your computer and will only be accessed via that particular device. This being said though, QuickBooks Premier for Nonprofits will offer all of the features of the most advanced version of QuickBooks Online and more.
With QuickBooks Premier, your accounting software will use nonprofit terminology in features, reports, and include tools specific to your needs, such as end-of-year donation statements, IRS Form 990, and donor contribution summary reports. Moreover, on a basic level, QuickBooks Premier a full general ledger package that includes accounts receivable, accounts payable, class tracking, and budgets by class or donor.
You’ll be able to complete the most basic accounting tasks—like downloading bank and credit card transactions—to the most complex nonprofit tasks, like generating letter templates to use for fundraising and contributing acknowledgments with QuickBooks Premier. You’ll also have the option to add QuickBooks Payroll and Payments to your nonprofit accounting software for additional fees.
QuickBooks Premier for Nonprofits is available in two different versions, Premier and Premier Plus. The regular Premier version will cost a one-time payment of $649.99. The Premier Plus, on the other hand, will require an annual subscription of $499.99 per year, but will also include unlimited customer support, automatic data back-up and recovery, and access to the latest features and updates.
All in all, although QuickBooks Premier may not have the same flexibility and accessibility as the first three solutions on our list, this is one of the best accounting systems for nonprofits who need one of the most robust solutions out there. If you’re a larger nonprofit organization with more complex accounting needs, QuickBooks Premier is likely going to be one of your top options.
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Sage Intacct for Nonprofits
Finally, we’ve reached the last option on our list of the best accounting software solutions for nonprofits. Like QuickBooks Desktop Premier, this option, Sage Intacct for Nonprofits, is going to be best-suited for larger nonprofits who need significant functionality from their accounting system.
With Sage Intacct, you’ll have access to an all-in-one cloud-based accounting and financial management software. Sage Intacct will give you the ability to manage core accounting tasks and processes, view real-time insights and reports, automate revenue and billing, create and manage budgets, among other functions. In terms of nonprofit specific capabilities, Sage Intacct will allow you to:
- Control multiple entities, currencies, grants, donors, and locations across your organization
- Generate statements of activities, statements of financial position, statements of cash flow, and IRS Form 990
- Manage funds by grants, donors, programs, geographies, and other qualifications
- Set budgets for each event, campaign, program, and funder
- Utilize modules for nonprofit grant tracking and billing, nonprofit revenue recognition, and nonprofit financial board book
As is the case with QuickBooks Premier, there will be very little you can’t do with Sage Intacct in terms of both accounting and nonprofit-specific activities. This being said, however, Sage Intacct can definitely be considered an enterprise-level solution (and is used by organizations like Meals on Wheels and the Great Books Foundation), and therefore, is likely going to be the most expensive nonprofit accounting software on our list.
In fact, there is no standard pricing for Sage Intacct, instead, you have to contact the Sage sales team directly to receive a customized quote based on the needs of your nonprofit.
With this in mind though, there’s no doubt that Sage Intacct is going to be one of the most robust, customizable, and automated nonprofit accounting software solutions on the market—making it a worthwhile option for larger, well-established nonprofit organizations who need this level of functionality
Conclusion
Being treasurer of a nonprofit organization is not an easy task. Nonprofits are based on very small budgets, so the software tools required should be affordable, simple to use, and powerful. The accounting for nonprofits range from small organizations that have few donations to big ones that have millions in annual revenue.