Best Accounting Software for Nonprofits 2023 Reviews

17 jun 2021
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cloud bookkeeping for nonprofits

Using the QuickBooks Online Advanced plan, your nonprofit can keep a close eye on each project’s cash flow via the Cash Flow Dashboard. Reporting tools help you create a spending roadmap so you don’t overextend your cash flow. Finally, the software’s nonprofit bookkeeping CRM helps you get to know and retain donors via targeted engagement to keep your cash flow healthy. Categorize revenue expenditures by fund or program, and create custom reports based on the data that matters most to your nonprofit organization.

It provides comprehensive grant tracking, budgeting, and reporting tools. With features like customizable dashboards, expense tracking, and automated financial processes, nonprofits can efficiently monitor grant funds, ensure compliance, and streamline reporting. Additionally, Sage Intacct’s cloud-based platform facilitates collaboration, enabling nonprofit teams to manage grants with transparency and accuracy.

How can automated accounts receivable software improve efficiency for nonprofits?

When choosing accounting software, nonprofits should look for features such as fund accounting, donation tracking, grant management, and financial reporting. It’s also important to consider the software’s ability to integrate with other programs and its ease of use. In addition, QuickBooks offers discounted products for nonprofits through TechSoup for both nonprofit and other editions of the software, a great deal for organizations with a tight budget. In this review, the term "QuickBooks for Nonprofits" will refer to nonprofit editions of QuickBooks Premier. Many small and midsize nonprofit organizations have excellent accounting software and keep their financials in good order, but need help when it comes to donor management and donation tracking.

The vendor signs this document and confirms all details of the purchase. The basis for an accurate bookkeeping and accounting system is recording all financial transactions. If you need more than five users, you’ll need to upgrade to QuickBooks Enterprise Nonprofit Edition, which starts at $1,464 per year for up to 30 users. QuickBooks Online can be used in a nonprofit setting, but you’ll want to make sure your staff can put up with the “for-profit language” of the program. The dashboard has mentions of profit and loss, sales, and other terms not commonly used in nonprofit environments.

Blackbaud Financial Edge NXT

MoneyMinder is a simple and easy-to-use online program that you can access anywhere. If you’re the treasurer of an organization, you can use the program to manage budgets, handle bookkeeping duties, reconcile bank accounts, and generate detailed reports. MoneyMinder is powered by Nonprofit Central and was specifically created for volunteer-led nonprofit organizations who are often overwhelmed by complex accounting programs. Driven by donations, nonprofit organizations face unique challenges when it comes to accounting.

  • By tracking categories, you know if funds are being allocated to the right projects based on donor intent.
  • In addition, as you build new global entities, you can seamlessly add them to the software.
  • Some systems even let you export or download data, which is helpful if you have a third-party accountant.
  • If your nonprofit is already up and running, it’s not too late to get a good foundation underneath it to avoid trouble with the IRS.
  • Another important factor to consider when choosing accounting software for nonprofits is the uptime and reliability track record.
  • Financial management software allows you easy cash management with your organization’s cash flow and budget.

Unfortunately, ACCOUNTS was designed for Microsoft Windows and the desktop version is only available for that operating system. However, there is a cloud-based, browser version called OnDemand that works on most platforms including Mac. If you upgrade to the local network version—which costs $220 for the first year—up to five users can access the database at once. Alana Rudder is a staff writer at Forbes Advisor, specializing in testing and reviewing, HR, payroll and recruiting solutions for small businesses. She currently serves as a business consultant, operations manager, and content strategist at Doubting Thomas Research Foundations’ Afghan Liberty Project, a small non-profit organization. Set up automatic reports to be created and emailed to colleagues, board members, and donors.