These include industry-specific functions, primarily fund accounting and the real-time collection of donations. It provides users with tools specific to nonprofits to help organizations manage their finances better. Tools include those for accepting donations, tracking time, project management, and team collaboration among others.
Smooth out your service all around.
The platform comes with mobile apps that support both Android and iOS devices and integrates with third-party applications, including G Suite, Shopify, Stripe, and PayPal. These are but the key Freshbooks benefits; the app goes a long way in terms of ease of use and pricing. You can monitor both revenues and expenses based on donor, service activity, and project while populating the system with all your donors and subdonors, which is very helpful in establishing a contact database.
Accounting made easy.
- Unfortunately, there aren’t really any reliable, free accounting software options for nonprofits on the market.
- A solution like MoneyMinder has a free version that costs nothing, which is quite rare for accounting software.
- We also like FastFund’s payroll module, which can handle various tax-exempt statuses of employees, highly relevant for nonprofit organizations.
- We reviewed some of the most popular accounting systems to help you make the best decision.
- Although FreshBook serves users well with multiple integrations, QuickBooks does its job well with cash flow management, even at all price plans.
- Unfortunately, general accounting solutions don’t offer ways to manage separate funds.
- Provide quality digital content on your site that makes it easy for customers to find the correct answers to their questions.
Wave’s strengths lie in its invoicing and receipt scanning capabilities, which are particularly useful for nonprofits that need to manage donations and expenses meticulously. Additionally, its basic financial reporting tools provide sufficient insights for small organizations to keep track of their financial health. Ideal for small nonprofits, Wave offers essential functions like invoicing and receipt scanning without subscription fees.
Features of Accounting Software for Nonprofits
Your potential customers are using social media every day—you need to be there too. Use social media to drive traffic back to your website where customers can learn more about what you do and buy your products or services. Business tools can help make your life easier and make your business run more smoothly.
The price for Sumac starts at $99 per month for the standard plan, which comes with standard features. If you have more complex needs, you can purchase add-ons, including additional record-keeping capacity. Finding the right software for your nonprofit helps determine its success, so make sure to snag those free trials and test-drive different options. With the right bookkeeping software on your side, you’ll be able to make the most of your donations and reach people who support your cause. If you’re interested in text-to-donate capabilities, you can upgrade to Aplos Core at $139 a month.
- New business owners tend to feed off their motivation initially but get frustrated when that motivation wanes.
- QuickBooks Online is designed for use by growing businesses and freelancers but can be configured for nonprofits.
- Wave makes it easy for a tiny business to track its expenses at no cost.
- This can also assist them in sending payments to their vendors or suppliers on time to maintain profitable relationships.
- To choose our picks for the best accounting software for non-profits, our team of finance and non-profit experts meticulously researched both spaces.
- Our favorite QuickBooks Online features that we tested are its customizable dashboard, comprehensive reporting tools, and accountant and bookkeeper integrations.
- And while it is primarily designed for small businesses, solo entrepreneurs, and freelance professionals, it has tools that make it viable for use in nonprofit fund accounting.
- Some also offer other unique functions, such as the ability to connect and communicate with volunteers.
- The best tools are intuitive and easy to pick up while still having all of the advanced features that you need.
- Still, Zoho Books offers 15% off its starting price for registered nonprofits, which helps lighten some of the fiscal load.
- If you generate (or expect to generate) a lot of invoices to send to clients, we recommend that you find a comprehensive accounting application with invoice-generating features.
While it’s expensive compared to some accounting software, its intuitive interface makes it valuable to all accounting software users, irrespective of their level of expertise. We chose Zoho as the best accounting software for multiple currency support because its multi-currency transaction features enable nonprofits to receive funds/donations without restrictions. It also provides accounting services for nonprofit organizations a comprehensive view of your organization’s finances and all the projects you’re running. With over 100 accounting software options available on the market, selecting the best one for your nonprofit organization can be a daunting task. To help you make an informed decision, we have thoroughly tested the top accounting software solutions designed specifically for nonprofits.