Best Accounting Software For Nonprofits 2024

Nonprofits use a different approach to accounting than for-profit companies called fund accounting. The goal of a nonprofit is not to make money but instead to raise money and use it toward a stated purpose, so it makes sense that there would be different requirements for accounting software. law firm chart of accounts Nonprofits don’t rely on the sale of products, goods and services to make money. Instead, they rely on donations, grants and other profit-free income streams, which means nonprofit software should help you accept, record and track donations. If some features are not necessary for your small nonprofit, you can go for the free software and upgrade once your organization grows.

OneNFP Financials services

It caters to mid-sized to large nonprofits needing robust fund management, donor tracking, and grant reporting capabilities. By aligning with Salesforce’s CRM tools, FinancialForce enables nonprofits to unify donor relations and financial accounting services for nonprofit organizations data in one platform, fostering seamless communication and efficiency. Its scalability and flexibility make it one of the best choices for organizations looking to optimize financial operations while supporting their mission-driven goals. Blackbaud Financial Edge is the heavyweight champion of nonprofit accounting software, designed for large organizations with complex needs. Its strengths include robust nonprofit fund accounting, budget tracking, and seamless integration with other Blackbaud products like Raiser’s Edge.

• Key focus areas include tracking diverse revenue streams, managing program-specific expenses, and preparing Form 990s.
• Without the right software, nonprofits may struggle with tracking restricted funds, managing diverse revenue streams, and meeting audit requirements.
• With this information at your fingertips, you’ll be ready to choose a software solution that will help you set up quicker, more accurate finance procedures.
• Based on all of the factors above, and your own evaluation, make a well-informed decision that will benefit all parties involved.
• The incredibly efficient automations and reporting will save you hours of work, but you might have to make several calls to their customer service or get an expert to put you through.
• With this nonprofit accounting software, your volunteers can manage your books without getting overwhelmed by complex processes and accounting jargon.

Thorough financial reporting

Integrations with over 1,000 third-party apps, such as Infoodle and Gusto, boosts Xero’s functionality. Conveniently, Financial Edge is not as difficult to use as advanced nonprofit accounting software might ordinarily be. It does have a vast suite of modules that can be pretty complicated, but it has user-friendly features like intuitive dashboards and one-click functionality to compensate.

• Each subscription includes a 24/7 online Help Center, phone support, online webinars, personalized training, local user groups and an annual client conference.
• Nonprofit Treasurer is a straightforward and user-friendly financial management tool designed for small nonprofit organizations and community groups.
• Nonprofit accounting refers to a specific set of accounting rules and practices used by nonprofits to track, record, and report their financial activities.
• This integration is so smooth, it’s like peanut butter and jelly decided to become accounting software.
• FastFund Online is a full suite of integrated services offered by Araize, a nonprofit-specific software provider.

Key Features to Look for in Accounting Software for Nonprofit Organizations

You can even give them direct access to your books so they can keep them clean and up-to-date. We’ll go over your business challenges and unique needs, and see where you can unlock new value from your technology and make your operations run easier. Preparing for audits efficiently while minimizing risks of financial mismanagement or fraud.

See Your Nonprofit Thrive with Smarter Accounting

To help you out, we’ve conducted in-depth research and rounded up 13 of the top accounting software for nonprofit organizations in the market. However, choosing the best accounting software for nonprofit organizations is not a simple task. One of the game-changers for nonprofit accounting management is Jotform’s integration with QuickBooks. This integration automatically syncs every donation, expense, or payment recorded via Jotform — eliminating the need for manual data entry, reducing errors, and saving time. With features like bill and invoice reminders, bank connections, and a receipt scanning app, you What is bookkeeping can invest more time in making a difference and less in your nonprofit accounting software.

Industry-Specific Accounting Software for Nonprofit Organizations

Nonprofits are held to high standards when it comes to making their financial data readily available to their donors and board members (not to mention the IRS). Fund accounting is used specifically by organizations that manage money but don’t turn a profit. Its principal focus is on ensuring accuracy, accountability and transparency. If you like QuickBooks’ features and setup but don’t need a solution as expensive or comprehensive as QuickBooks Desktop Enterprise, pricing for QuickBooks Online starts at $30 per month.