The best accounting software for nonprofits, unlike businesses, don’t sell goods or services for a profit; instead, they concentrate on projects that help the general public, the organizations’ members, or a particular group. The laws governing nonprofits and other tax-exempt organizations make specialized accounting software necessary. The various forms of funding are the main focus of nonprofit accounting software. In order for donors to understand how their contributions are used, nonprofit organizations need to manage their finances transparently.
Additionally, special accounting reporting is required in order to adhere to grant submission rules. Nonprofits must adhere to the exact standards and regulations set by the Financial Accounting Standards Board given the volume of money they handle. Accounting software can make accounting and bookkeeping tasks easier and more efficient for nonprofit staff and volunteers, ensuring that financial records are in order and reporting requirements are met. Below we have mentioned some of the best accounting software for nonprofits.
7 Best Accounting Software for Nonprofits
Aplos
Aplos offers event registration, financial and giving reports, tracking of donations, online gift forms, and fund accounting. The Core plan, which costs $69.50 per month, includes budgeting, accounts payable and receivable, recurring transactions, and pledge tracking. Project-specific reporting, tracking of fixed assets, distribution of income and expenses, and fund-specific budgeting are additional features of the third-tier plan. This is one of the best accounting software for nonprofits.
Aplos stands out due to its customer relationship management (CRM) component. With this software, you can personalise your engagement and retention strategies, develop donor profiles, interact with donors, and maintain a record of your interactions. Then, donor management tools help you raise money, keep track of donations, and retain more donors.
QuickBooks
Intuit, a provider of tax preparation and financial services, is the company that produces QuickBooks Enterprise Nonprofit. Founded in 1983, Intuit. It has gained notoriety since its debut and will generate more than $7.7 billion in revenue. Although there are less expensive versions of QuickBooks for nonprofits, we chose QuickBooks Enterprise Nonprofit due to its durability. This best accounting software for nonprofits may be a good fit for big or expanding businesses that require comprehensive accounting services.
QuickBooks Enterprise Nonprofit allows you to track expenditures and donations, create donor and grant reports, budget by program and compare to actuals. You can accept donations with this version of QuickBooks and safely store donor information in your database. Payroll services are even available for your business if you upgrade to the Gold, Platinum, or Diamond plans, allowing you to pay your employees through QuickBooks directly.
Sage Intacct
The scalable and adaptable financial platform Sage Intacct offers thousands of companies all over the world comprehensive accounting capabilities. Any accounting department or finance team can use Sage Intacct to access a variety of essential accounting tools, including a general ledger, accounts payable, accounts receivable, cash management, and order management.
Additionally, it supports features like built-in dashboards, real-time reporting, time and expense management, project accounting, revenue management, and global consolidations for numerous entities. Currently, this is the best accounting software for nonprofits you can check now.
Zoho Book
The thorough reporting tools offered by Zoho Books include expense reports that make tracking funds and ensuring transparency simple. Collaboration is made easy with Zoho Books because you can assign as many tasks as you need to other team members. Zoho Books, like Sage Intacct, uses automated workflows to speed up data entry and combine unnecessary tasks. This is one of the best accounting software for nonprofits you can install now.
However, you can’t simply sign up for Zoho Books if you want to accept donations. The payment portal for Zoho, Zoho Checkout, is also necessary. As long as you only accept 50 donations ever, not monthly Zoho Checkout is free. Customers who require unlimited donations in multiple currencies must upgrade their current Zoho Books plan for $9 per month to a Zoho Checkout plan.
Realm
Realm offers three plans, but it doesn’t provide a price range. The company’s Inform plan works best for accounting needs. With this plan, you can create donor profiles, update them with staff notes, give donors the option to give via text, web, or recurring gifts, manage donor pledges, create and view donor histories and statements, offer personal donor dashboards, segment donors, permit restricted giving, and share donation reports. This is one of the best accounting software for nonprofits.
Realm offers churches a simple platform for managing donors and their donations, with a less feature-heavy offering than some rivals and award-winning customer support. Each subscription comes with a phone hotline, online webinars, individualized training, nearby user groups, and an annual client conference in addition to a 24/7 online help center. Simply put, Realm offers support in whichever format is most convenient for your church. If you like this app you can get it from official website.
ACCOUNTS from Software4Nonprofits
Cooperstock Software, a small Canadian business, runs a program called Accounts through Software4Nonprofits. The treasurer of a religious finance committee started the business as a result of his struggles to find software that suited his requirements. In order to compete with the more costly and sophisticated accounting software that was then available, he developed account.
The best accounting software for nonprofits and churches that require fundamental bookkeeping and accounting services, Accounts is an intuitive platform. You can track income and expenses, keep tabs on fund balances, link accounts to lines on your IRS tax forms, and generate in-depth reports using the program.
Serenic Navigator
Serenic Navigator is a component of SylogistMission, software created specifically for nonprofits. Sylogist Mission also includes payroll and human resource management, ACH support, account schedules, award management, bank reconciliation, document management, reports, analytics, deposits and loans, and field operations. Overall, this is the best accounting software for nonprofits you can consider.
Our accounting software is designed to meet the requirements of small to mid-sized nonprofit organizations, particularly nongovernmental organizations, faith-based organizations, dioceses and archdioceses, research institutions, and other nonprofits that depend on grant funding.
Conclusion
Software specifically designed for nonprofit organisations can be a crucial tool for keeping track of finances in an efficient and accurate manner. Any best accounting software for nonprofits seeking to adhere to the exacting accounting standards that nonprofits are required to uphold will find nonprofit accounting software to be a valuable addition. These solutions increase transparency within an organisation and make it easier for nonprofits to comply with accounting regulations.
