First and foremost, accounting software for nonprofits should be easy to set up and use. Nonprofit employees may have limited tech skills, so an intuitive interface and user-friendly functionality are crucial. Our list of the best nonprofit accounting software, chosen for their features, usability, and reputations. While accounting expertise isn’t necessary, basic financial literacy is helpful.
- Today’s leading accounting platforms offer standard security features such as data encryption, secure credential tokenization and more.
- It also lets you manage multiple projects and clients and view reports in one place.
- Springly is a helpful tool for all kinds of religious institutionses, such as mosques, churches, and temples.
- This improves your financial workflow and helps you manage your staff expenses more effectively.
Evaluating Software Based on Your Budget
In addition, companies looking for advanced data management, security and reporting features would find useful features in AccountEdge. Some notable features offered by AccountEdge include its custom reporting, data security, invoicing and project time tracking tools. Larger businesses also desired fund accounting capabilities and a way to manage their procurement. Zoho Books is known for its scalability, with plans ranging from a free version to more advanced options for mid-sized enterprises. Each plan includes a certain number of users, with the option to add more for a small fee, making it competitive in terms of price and user access.
Is it safe to use nonprofit accounting software?
The continuation of the 2008 Regulations therefore has no effect on the accounts preparation of charitable companies. As with other charities, precisely what type of external scrutiny is required depends on the income and assets of the charity and whether or not the charity is a company. An audit will also be required if total assets (before liabilities) exceed £3.26 million, and the charity’s income exceeds £250,000. This is the simpler of the 2 methods of accounts preparation and may only be used where a non-company charity has a gross income of £250,000 or less during the financial year. We’ll implement new technology and processes to modernize your bookkeeping and improve transparency.
Do more for others with our nonprofit accounting software
DonorPerfect is a nonprofit software solution designed to help keep all your organization’s team members on the same page regarding your fundraising strategy. With a mobile app and effective reporting tools, everyone at your organization will have the tools they need to keep up with operational tasks and raise funds, no matter where they are. This nonprofit accounting software offers free invoice, accounting, and banking services. In June 2024, it reached $3,000,000,000 in invoice-generated payments.
Fundraise Up
We’ve reviewed and tested leading solutions on the market and chosen the best accounting software for your business. Accounting software can improve productivity by automating time-consuming tasks, such as invoicing and tracking payments. Plus, software can help keep your books in compliance, which can save you time and money in the long run. However, unlike competitor software, the invoice creation feature didn’t automate sales tax calculations in my testing experience. After saving the invoice and accessing it under the “unfiled” menu option, I encountered an issue.
Easy expense sorting
We included a range of providers to ensure that both small nonprofits seeking basic functionality and global organizations requiring advanced features can find a suitable solution. Free nonprofit bookkeeping software can be appealing due to its cost-saving potential. However, free packages often have limitations, such as fewer features and integrations and less customer support. Paid solutions usually provide more features, better support, and enhanced security. Blackbaud Financial Edge offers tailored reporting by generating reports for various stakeholders. This accounting software ensures that diverse needs are met through customizable options.
- NetSuite Accounting software for nonprofits offers multiple features and functionalities to manage finances.
- Wave is a free, cloud-based accounting software that can be a good fit for small nonprofits with basic financial management needs.
- Once pressed, a drop-down menu offers common action items, such as adding an invoice or a bill.
- The documents often go through external audits to indicate the authenticity of their numbers.
- Nevertheless, Odoo’s extensive modules and integration options make it highly customizable for SMBs.
- The best software for nonprofits is essential for optimizing fundraising, enhancing donor management, and streamlining all your operations.
Zoho Accounting: Best for employee and volunteer collaboration
To choose the best accounting software for your organization, consider the price, features, and capabilities of the platform to determine the best software solution for your 501(c)(3) organization. With Zoho Books, nonprofits can easily manage their finances from cash flow to expenses all in one dashboard. The software also includes features for fund organization and management, allowing customers to generate reports and easily track spending. ShelbyNext Financials is cloud-based accounting software that is best accounting software for nonprofits 2024 designed specifically for churches of all sizes. This is just one software platform for churches offered by Shelby and other products can be bundled for full church management software solutions.
Akaunting Pricing
We like how it displays key financial data that startups will want to pay close attention to, like income, expenses, bank balances and project time logs. No digging for this information is required, which we think startups will value. Other valuable features include its customization options, which give users the freedom to set things up just how they want, as well as its ability to create invoices and accept online payments. We also think startups will appreciate Zoho’s workflow automation, for tasks like creating and sending invoices, cloud-based tool usage, integration options and mobile options on iOS and Android.
It allows you to manage funds and segment data using different categories. NetSuite can help combine all your financial system needs into one platform. You can use it for real-time financial reporting, accounts payable and receivable, and fund accounting. Wave Accounting offers a free plan for nonprofits and small business owners. The platform offers various features, including unlimited expenses, invoices, and receipts.
Businesses typically need to upgrade when they hire employees, expand inventory or must deal with multistate tax compliance. Small business accounting software is also useful for tax management, as it ensures you accurately estimate your tax liabilities and save money accordingly. The best accounting software integrates with other key business systems, like payroll and HR software, thereby eliminating the need to enter the same data manually in multiple systems.