Nonprofit accounting software is crafted to handle these complexities, ensuring that organizations can maintain financial integrity while focusing on their mission.
Nonprofit organizations require robust accounting software to manage their finances effectively, ensure compliance, and maintain transparency with donors and stakeholders.
Unlike for-profit businesses, nonprofits have unique financial needs, such as tracking donations, managing grants, and reporting to various funding sources.
To help nonprofits streamline their accounting processes, several specialized software solutions are available.
Here are some of the best nonprofit accounting software solutions, along with their top features and potential nonprofit discounts.
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Aplos – Nonprofit Accounting Software
Aplos is designed exclusively for nonprofits and churches, offering an intuitive platform that simplifies fund accounting, donor management, and compliance. It is particularly well-suited for smaller to mid-sized organizations.
Aplos stands out for its user-friendly design and comprehensive feature set, making it accessible to organizations with limited accounting expertise.
Top Features
• Fund Accounting: Easily manage multiple funds and track designated donations, ensuring proper fund allocation and reporting.
• Online Donations: Integrated online giving forms and donation tracking, making it simple to receive and manage contributions.
• Donor Management: Comprehensive donor database and communication tools to maintain strong relationships with supporters.
• Event Registration: Tools for managing event registrations and payments, helping to streamline fundraising events.
• Reporting: Customizable financial and donor reports that provide valuable insights into the organization’s financial health and fundraising efforts.
Potential Nonprofit Discounts
Aplos offers a 30-day free trial and tiered pricing based on the size and needs of the nonprofit, ensuring affordable options for various budgets. They also provide educational discounts and periodic promotions to help nonprofits get started with their platform.
Xero – Accounting Software for Nonprofits
Xero is a cloud-based accounting software that offers an easy-to-use platform with powerful features for small to mid-sized nonprofits. Known for its simplicity and integration capabilities, Xero is an excellent choice for organizations looking to streamline their financial management processes.
Top Features
• Invoicing and Expense Tracking: Create and send invoices, track expenses, and manage reimbursements, simplifying financial operations.
• Fund Accounting: Track income and expenses by fund, ensuring accurate allocation and reporting.
• Bank Reconciliation: Automated bank feeds and reconciliation to streamline financial management and reduce errors.
• Reporting: Customizable financial reports and dashboards that provide insights into financial performance and compliance.
• Integration: Integrates with over 800 third-party applications, including CRM systems, fundraising platforms, and payroll services, enhancing overall productivity.
Potential Nonprofit Discounts
Xero offers discounts for nonprofit organizations, including reduced subscription rates and special pricing for multiple user licenses. They also provide a free trial and educational resources to help nonprofits get started with their platform.
Wave – Free Accounting Software for Nonprofits
With Wave, you can spend more time on the cause, less time managing the books. Wave makes it easy to track your organization’s cash flow.
You need to have capital to keep giving back, but you don’t have to sacrifice your cause to run your nonprofit like a cash flow positive business. Wave is simple and easy to use for anyone — no accounting experience needed. And it’s completely free.
Wave Features:
- Monitor your nonprofit’s financial health – Log in anytime to get a big picture sense of your church’s financial position. Wave displays instant invoicing, payroll, and payments data updates, along with dashboards for cash balances.
- Easy to understand accounting reports – You don’t need to be an Excel wiz to understand your organization’s financials. Export profit/loss, sales tax, cash flow, comparative, and more reports with visual graphs that makes the information easy to comprehend.
- Hands-off bookkeeping – Automatically import your transactions into your bookkeeping software with easy and unlimited bank account and credit card connections. Bulk transaction updates make for quicker bookkeeping.
- Cut costs with detailed expense tracking – Manage accounts payable, categorize expenses, and find out where most of your church’s money is going. Over time, Wave will reveal valuable money-saving opportunities.
Wave Pricing:
- Free
Download our checklist of the best free nonprofit tools of 2024
QuickBooks for Nonprofits
QuickBooks for nonprofits is a comprehensive accounting software package designed for organizations of all sizes. It includes features such as grant management, donor tracking, and financial reporting. QuickBooks Enterprise also offers various pricing options, making it more affordable for small nonprofits.
Quickbooks for Nonprofits Features:
- Automate program and fund accounting
- Accept all donations
- Streamline all your donation apps
- Sync your bank
- Stay IRS compliant
- Automate your reports
Quickbooks for Nonprofits Pricing:
- Plus – $85/m
- Advanced – $200/m
Blackbaud – Fund Accounting Software
Blackbaud is an all-in-one accounting software package that includes features such as budgeting, forecasting, and expense management. Nonprofits, educational institutions, and charitable organizations use Blackbaud’s fund accounting software to streamline financial management operations and increase the impact of our customers’ missions.
Blackbaud Features:
- Track and report on transactions by net asset class to maintain FASB compliance
- Maintain a clean account structure with the ability to capture program, grant, and department information unique to your organization
- Govern your financials—from user-specific access rights to powerful approval controls—so you can rest assured that your data is secure
- Easily manage unique financial reporting requirements and demonstrate stewardship of contributed funds
- Give managers and users access to actionable data to drive strategic decision making
Blackbaud Pricing:
Blackbaud must be contacted for pricing.
Sage Intacct – Cloud Nonprofit Accounting Software
Sage Intacct is a cloud-based accounting software package that includes features such as project management, fund accounting, and multi-entity management. It also offers integration with Salesforce, which can be beneficial for nonprofits that need to track both financial and donor data.
Sage Intacct Features:
- Tailoring transactions and approval workflows to eliminate redundant data entry
- Automatically routing and tracking digital approval signoffs on transactions
- Automating fund, grant, revenue, and billing processes
- Providing anytime, anywhere access for staff and volunteers, can increase finance department productivity by more than 30%.
Sage Intacct Pricing:
Sage must be contacted for pricing.
When it comes to choosing nonprofit accounting software for your organization, there are many factors to consider. We hope this blog post has been helpful in giving you an overview of the top nonprofit accounting software packages currently on the market.
