8 Best Accounting Software for Nonprofits

These investments will far outweigh investments in traditional robotic process automation alone. They will also put organizations on track to combat the growth and productivity crises they face in order to ultimately thrive. Invoice processing is labor intensive, typically requiring the manual bookkeeping for nonprofits entry of vendor invoice data. According to SAP Concur, manually processing an invoice costs $31 and takes 17 days, on average. Additionally, manual input can contribute to payment delays due to data entry errors, and inconsistent invoice formats pose challenges for process automation alone.

• 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.
• You can confidently manage your books, financial health, and bottom line the right way, the first time and every time.
• Unless you’re a power user or an accountant, business accounting software can be difficult to use.
• Here are the best accounting software for nonprofits available today.
• Blackbaud Financial Edge NXT is a comprehensive financial management system designed to support your fundraising efforts and drive your mission forward.
• Sumac is ideal for small to mid-sized nonprofits that need CRM capabilities to streamline their accounting and fundraising tasks.

What’s also particularly nice is that you can organize your bills into neat folders and display them on-screen. Our team of experts evaluates hundreds of business products and analyzes thousands of data points to help you find the best product for your situation. Over 40,000 nonprofits and churches trust Aplos Software to help them succeed in their missions. Simple and easy software, but with optional advanced features for those who need it.

Is there any free nonprofit accounting software for nonprofits?

Nonprofits can generate more than their share of paper trail or digital forms, but Yooz is designed to handle all of them. It can work with any format of scanned images and files from any operating environment, from PDFs to JPGs. NetSuite for Nonprofits’ pricing details are not publicly available. The program’s vast functionalities are equipped to track every transaction and handle complicated finances. Advanced Pricing is included in the Platinum and Diamond subscriptions only. Advanced Reporting is included in all QuickBooks Desktop Enterprise subscriptions.

Organizational behavior software can also help you conduct more effective training and manage your onboarding process. No one knows your nonprofit better than you do, which is why you should hire a professional bookkeeper to get your records in order and https://www.bookstime.com/ leave the decision-making up to your organization’s leaders. And, if you need further advice, an experienced bookkeeper can give you their perspective on your budget. For example, let’s say your nonprofit needs a car to run errands for the organization.

Sage Business Cloud Accounting – Accounting

By working with a cloud-based platform that can handle your invoicing, accounts receivable and reports, financial departments can focus on long-term goals. The best nonprofit accounting software has built-in features that let you track and record e-donations. Xero also excels at accounting basics that can keep your nonprofit’s budget on track, including thorough financial reporting and expense tracking.

This cloud-based accounts receivable software supports multiple currencies so that receiving donations from overseas is not a problem. The platform combines the power of four interconnected modules in one — Invoice-to-Cash, Payment Plans, Subscription Billing, and Customer Portal — so accounting workflow becomes easy and seamless. This cloud-based solution offers a comprehensive suite of tools to simplify the complex processes and requirements involved in nonprofit payroll and tax services. Among the online tools nonprofit groups can utilize Paychex’s fully automated payroll processing, which can be accomplished in a couple of clicks. One of such services is FastFund Accounting, a cloud-based fund accounting software that provides all the essentials for nonprofit accounting, including fund accounting and fundraising.

Will QuickBooks Online Work For Nonprofits?

Both fund accounting and payroll are pieces of functionality that can be bought as stand-alone or add-on software features to existing accounting packages. Looking for a fully integrated (all-in-one) option will be the better long-term option to avoid integration issues and paying multiple software vendors a month. We picked the best accounting software from a list of over 30 platforms. For instance, most offered flat pricing, third-party integrations, invoicing and cash flow tracking. Picking the best accounting software for your small business can help improve your accounting workflow, ensure accuracy in your financial reports and reduce costly bookkeeping errors.

Nonprofits use a variety of specialized reports such as annual board member reports, donor reports, and grant reports. With QuickBooks, you can easily customize your reporting templates and run any report you need. Create presentation-worthy reports with your logo, an introduction, and notes. Get matched with a QuickBooks-certified bookkeeper who understands nonprofits and keeps your books up to date. Right Networks performs backups of all Hosted data on a nightly basis and retains the back-ups for a rolling 90-day period in a protected offsite facility as an additional level of protection. Customers are responsible for verifying the integrity of the hosted data at least every 90 days.

GMS Accounting and Financial Management Reporting System

Finally, the software’s CRM helps you get to know and retain donors via targeted engagement to keep your cash flow healthy. It should also offer nonprofit-specific accounting functionality, such as the ability to receive donations, manage restricted funds and file Form 990. Tipalti Approve also includes robust features for managing vendor information. Through the software, non-profit organizations can effortlessly maintain a comprehensive, searchable database of vendors. Users can also attach files and contracts to each vendor, along with renewal notifications, for added convenience. Moreover, Tipalti Approve has a built-in data enrichment service for adding labels and tags to vendors for easier searching.

Many NPOs instead look to adopt new nonprofit accounting software solutions that work out of the box. For example Zoho, a lesser-known but popular customer relationship management provider, increased monthly fees by 15% last year. Xero, a cloud-based accounting application, bumped up its monthly fees by about 6%. Zendesk, a leading provider of cloud-based customer support applications, also increased its monthly fees. QuickBooks’ Plus plan is our top spot for the best accounting software for products-based businesses for a number of reasons.

Organization s that support and manage multiple entities should contact Aplos to discuss its Enterprise plan, which is tailored to each customer. Though it is designed specifically for small businesses, cloud-native accounting platform Sage Business Cloud Accounting is also suited to nonprofit organizations. It aims to help them overcome common accounting challenges, such as compliance. The also software makes most complicated accounting processes fairly simple, getting rid of complexities arising from the simultaneous administration of numerous projects and the use of a variety of currencies. The system resolves these problems by effectively tracking all donations and expenses while supporting different currencies. Accounting software that offers features for nonprofits specifically can streamline the processes required to abide by these rules.

• Through the software, non-profit organizations can effortlessly maintain a comprehensive, searchable database of vendors.
• Small businesses wanting to stay below that total may need to consider a more generic software such as Xero or Sage 50c.
• And while the tool itself provides security for various workflow processes, it also tightens the security measure around your signatures and documents.
• Once you have a clear picture of your organization’s nonprofit accounting needs and capacity to adopt a new system, you can start shortlisting and comparing your options.
• Nonprofits can access their top-notch accounting, human resources, and fundraising services for excellent prices and from anywhere.