15 Best Accounting Software For Nonprofits in 2022

Create a checklist of must-have features based on your daily operations. Budgyt is a cloud-based financial budgeting tool designed to replace traditional spreadsheets. It offers tailored solutions for small to medium-sized businesses, nonprofits, and larger enterprises with complex needs, such as cost allocation. FreeAgent is a cloud-based accounting software aimed at freelancers and small businesses. Xero for nonprofits kickstarts the accounting processes for organizations looking for their first software solution.

• Xero offers cash management, donation tracking, and multi-entity options.
• You can send unlimited invoices, reconcile accounts, and generate detailed reports for donors.
• Whatever the size of your organization and your specific needs, there’s an accounting software that can solve your accounting and bookkeeping headaches.
• Tax-exempt means that the organization does not have to pay federal income tax on money that comes into the organization.
• The software is equipped with a complete set of tools that make it easier to create purchase orders and go through the approval request procedures.

This freshbooks for nonprofits feature enables nonprofits to tailor the software to their specific needs. Whenever you’re working with important data, such as financial information or donor contact info, it’s important to consider security. Also, be sure to take some steps of your own, such as using a unique, complex password. We invest in deep research to help our audience make better software purchasing decisions. We’ve tested more than 2,000 tools for different finance use cases and written over 1,000 comprehensive software reviews.

• The right budget software saves time, increases financial accuracy, and empowers nonprofits to focus on their mission rather than administrative tasks.
• Many bookkeeping systems offer integrated donor management features, which help improve the process of tracking donations and managing donor information.
• After completing this period, the software will ask you to give a valid credit card for authorization to continue using it.
• If you haven’t looked at your current tech stack for accounting assistance, now’s the time to dig in.
• Intuit QuickBooks offers a wide range of features for managing cash flow, starting at $35 per month.

Compare nonprofit bookkeeping features: Runners-up

Tax-exempt means that the organization does not have to pay federal income tax on money that comes into the organization. Waiting for a bank statement and comparing it to your books takes too much time, which is why you are going to love automated bank reconciliation. Approve, change, and import transactions directly from your bank account. Create a summary report and export it to Excel with the click of a button. Invite your accountant and their team of up to 10 accountant team members to your FreshBooks account with just a few clicks. Your accountant will be able to update your Journal Entries and Chart of Accounts.

FINSYNC: Cloud accounting solution

Yes, QuickBooks can be an invaluable tool to help nonprofit organizations manage their finances. It offers features such as accurate tracking and reporting of expenses and income, budgeting, creating financial statements, and tracking donations and grants. Additionally, QuickBooks can also help streamline the payment process for staff and vendors. Yes, nonprofit organizations and charities should consider using accounting software. Accounting software can help nonprofits and charities manage their finances more efficiently, keep accurate records for tracking income and expenses, and meet all necessary compliance standards.

What Users Like About Aplos

The dashboard is easy to navigate and offers a variety of accounting-related tools, including cash flow management, AP, AR, general ledger, and many more. Non-profit institutions are frequently operating on a limited budget and minimal workforce. But, it could be possible for a charitable organization to meet accounting requirements with specific industry-designed accounting software. FreshBooks is available online for both PCs and Macs, as well as through our mobile app on Google Play or iTunes.

Benefits of integrating your accounting software with the rest of your tech stack:

It creates a simple solution that allows your organization to easily share critical financial information with donors, board members, and volunteers. AccountEdge was built for small businesses but expanded their services to serve nonprofit accounting needs. Their full-featured software advertises itself as being affordable for organizations of all sizes. While their main software solution is desktop-oriented, they offer an optional cloud app for your organization’s on-the-go needs. Blackbaud Financial Edge NXT is a complete financial solution designed for nonprofits.

Nonprofit vs. For-Profit Accounting

Large-scale nonprofits with more complex needs would be smart to go with advanced accounting software like QuickBooks Enterprise Nonprofit or Blackbaud. For example, integrating Xero with tools like Infoodle allows for effective donation tracking, while the Gusto integration streamlines staff payroll processes. These integrations enhance Xero’s functionality, making it a versatile tool that can handle various aspects of nonprofit financial management. That’s where our review of the best accounting software for nonprofits comes in!

Xero

Do you need to see and maybe present the financial status of your organization? Cool, Sage Intacct comes with a digital board book designed to do just that. MoneyMinder is a bookkeeping software for nonprofits built for volunteer-led organizations that need a simple and affordable solution. The Free plan comes with basic features, while the Pro plan unlocks more advanced features like volunteer management and bookkeeping tools. Yes, most nonprofit accounting software allows you to customize the chart of accounts to fit your organization’s specific needs. You can create new accounts, modify existing ones, and organize them in a way that reflects your financial structure.

We research and recommend products and services suitable for various business types, investing thousands of hours each year in this process. The cash flow statement records all the financial movements of cash, including the details of cash in charity. They cover operating, investing, and financing activities for this statement. The balance sheet is essential to give a snippet of a nonprofit’s financial well-being. You can use this software to manage your finances independently from each other. For example, highlighting the number of people housed through a shelter program provides concrete evidence of the organization’s work and the benefits it brings to the community.