Best Accounting Software For Non-Profit

With so many accounting softwares available on the market, it can sometimes be difficult to determine which ones are the best for you. 

However, with the help of this guide, you’ll be able to make an informed decision that is right for your business in no time. 

Let’s get started. 

Product Reviews

Below, we have outlined the best accounting software for your non-profit organization available on the market today. 

We have taken into consideration factors such as pricing, features, reputation, and so on, when deliberating the best products. 

Here are 5 of the best accounting softwares for non-profits. 

1. ACCOUNTS From Software4Nonprofits

ACCOUNTS is a program in Software4Nonprofits, delivered by Cooperstock Software, a small organization in Canada. In fact, it was founded by the treasures of a religious finance committee who found it hard to find software that met his requirements. 

This inspired the development of ACCOUNTS – an alternative to the more complex and expensive accounting programs available on the market. 

What you’re left with is an easy-to-use platform that is designed with churches and small businesses in mind that require basic accounting and bookkeeping services. 

Here, you’re able to track your expenses and income, create detailed reports, track fund balances, and designate particular accounts to align with IRS tax forms. 

Moreover, if you’re in charge of managing the accounts of various businesses – for instance, your child’s sports team and a school’s PTA – the software can help you manage both finances without any additional fees. 

For the first year, the standard version of ACCOUNTS starts at $130. After this has passed, it is $65 per year. The best part? There is a 60-day free trial – where you can download the free version online. 

Moreover, there is a 30-day guarantee, therefore, if you’re not satisfied with your product, you will be compensated with a complete refund. 

That said, ACCOUNTS was designed for Microsoft Windows, therefore, it can only be used on this operating system. Although, there is a cloud-based version known as OnDemonad that can be used on most platforms, including macOS.

With the standard version, it is permitted to one user to perform data entries at a time. However, if you upgrade to the version of the local network – at $220 in the first year – five users can use the database at the same time. 

Furthermore, if you’re looking to track donor information and donations, additional software has to be purchased.

There is another software offered by Cooperstock Software known as DONATIONS – this is free if you have less than 100 donors per year. For larger organizations, you have to pay for this. 

Pros

• Standard version is only $130 for the first year. 
• Can be used for accounting for multiple businesses. 
• Free 60-day trial and a 30-day money-back guarantee. 

Cons

• Desktop version can only be used on Windows. 

2. QuickBooks Enterprise Nonprofit

Typically, many non-profit businesses will come together and use multiple programs to manage payroll service, accounting, and donor management – making things somewhat confusing when it comes to end-of-year reporting. 

However, you don’t have to worry about this with QuickBooks Enterprise Nonprofit – it provides you with a full-service program, allowing you to pay your staff, track your finances, and manage your donor lists. 

The company itself is issued by Intuit – a tax software and financial services company. It was founded in 1983 and since then has become a household name, earning more than $7.7 billion in 2020. 

Despite cheaper options, we have selected QuickBooks Enterprise Nonprofit due to its hardiness. If you have a growing business that requires accounting services, then this is the perfect software for you. 

Here, you can use this software to budget by program and compare to actuals, track expenses and donations, and create grant and donor reports. 

Moreover, it integrates with various apps typically used by non-profit organizations, including Kindful. When using these apps in your campaigns, you can import transactions and sync data to ensure streamlined reporting. 

While other versions of this software offer free trials, the QuickBooks Enterprise Nonprofit, unfortunately, doesn’t. The price starts at $1,275 per year, however, it can be increased depending on what services you add. For instance, Platinum costs $2,035 per year. 

In addition, the default version is only available on desktops, therefore, employees aren’t able to access the service remotely. If you want cloud-based access added, then you’ll have to pay additional fees. 

For instance, the cost to add two users remotely to the Diamond plan is $3,570.40.

On the other hand, for small non-profit businesses that are just starting out, you won’t need all the features that come with QuickBooks Enterprise Nonprofit. For those with basic accounting needs, QuickBooks provides plans that start as low as $25 per month.

Pros

• Integrations. 
• Combines payroll services, donation management, and financial statements into one software. 
• Online protection and backup of your QuickBooks data. 

Cons

• Additional fees for remote access. 

3. Sumac By Silent Partner

Generally speaking, many small and medium nonprofit organizations have access to great accounting software, although, when it comes to donation tracking and donor management, more help may be required. 

If your business is relying on outdated databases or multiple spreadsheets, then Sumac is an affordable upgrade that will help you streamline all your work. 

The company was first launched in 2003 and it has been supporting thousands of non-profit organizations worldwide. In 2008, the company aligned with Silent Partner Software Inc where it offered products such as PartnerHR.

Thanks to Sumac’s fundraising efforts, employees are provided with access to critical data from wherever they are – with the ability to view databases all at the same time, ensuring all your information is up-to-date. 

With the help of this program, you’ll be able to create customizable donor profiles whereby you can adjust fields to meet your organizational requirements. 

Here, you can view a particular donor’s history, including past communications and donations, in the company. Moreover, you can even set reminders to keep up with donors. 

Donations can be transformed into reports and ledger entries for your accountants or bookkeepers – allowing you to craft summarized annual reports. 

When it comes to pricing, Simac is more adorable than some other software programs – ranging from $35 per month to $250 per month, depending on your organization’s requirements. 

Additional services, including course registration, online donation acceptance, and website management all require extra fees. That said, you’ll receive free training with the fees. 

For any extra training, the prices start at $150 per hour. 

Pros

• Customizable donor profiles. 
• Volunteers and staff can access databases at the same time from any location. 
• Affordable pricing with various packages. 

Cons

• Additional training costs. 

4. Financial Edge By Blackbaud

Financial Edge is developed by Blackbaud – a major software organization that caters to educational institutions, healthcare facilities, and, of course, non-profit organizations. The company serves millions of customers worldwide.

If you’re a large non-profit organization with various accounting requirements, including a large donor base and employees, then Financial Edge is an ideal choice for you. 

The best part? It is cloud-based software – all you need is a laptop to get started. Here, you can track expenses, handle the general ledger, create budgets, and manage cash flow. 

Likewise, it has enhanced budgeting abilities, too – allowing you to budget across fiscal years and forecast different scenarios (for more AI forecasting software, read here). 

Moreover, it can be integrated with Blackbaud’s Raiser’s Edge – a gold-standard software for fundraising and donor management, ensuring all your goals are cohesive. 

Pros

• Integrates with Raiser’s Edge donor management software. 
• Can be managed remotely thanks to cloud-based software. 
• Enhanced budgeting capabilities. 

Cons

• Lacks pricing transparency. 

5. Araize FastFund Accounting

With over 30 years of experience, Araize is a software solution dedicated to nonprofit organizations. Thanks to Araize FastFund Accounting, you’ll be provided access to cloud-based systems. 

Since the software runs on the cloud, you can access it from any web browser on any device, this includes tablets, PCs, and Macs. All you need is a day to get your software up and running. Plus, multiple users can use the platform at the same time. 

With the help of FastFund Accounting, you will be able to generate accounting reports, handle bank reconciliations, create budgets for each grant and department, and even collect all your necessary data to complete your IRS Form 990. 

This software starts for as little as $42 per month – with no setup fees! The best part? You don’t have to worry about committing to any contract – simply cancel when it suits you. 

Moreover, there are two additional programs you can bundle into your accounting programs or purchase separately. Thanks to FastFund Fundraising, you can track cash, in-kind gifts, and pledges, create detailed donor profiles, and create customized donor receipts, too. 

When you bundle these two software packages, the price is as low as $20 per month. Alternatively, it is only $42 per month if you were to purchase it as a standalone package. 

Moreover, with FastFund Payroll, you can manage all your payroll requirements. Here, you can pay employees directly with checks or deposits, file quarterly payroll taxes, and allocate money for taxes. The price for this package starts at $66 per month. 

Despite offering monthly online video training and webinars as part of your fees, additional one-to-one training comes at an extra cost. 

When it comes to program reviews, many people have pointed out that the program is powerful and robust. That said, if you opt for one of the pricer packages, some reports aren’t customizable. 

Pros

• Cancel anytime. 
• Opt for one service or bundle all three. 
• Monthly online video training and webinars are provided. 

Cons

• Additional costs for one-on-one training. 

Buyer’s Guide

When it comes to choosing the best accounting software for your business, it isn’t always as simple as choosing a random package and implementing it into your organization – despite how much you wish it is! 

Instead, you need something that offers all the functionality that comes with accounting models. 

With this in mind, below, we have outlined everything to look out for to ensure you’re making the most out of your accounting software. 

How To Choose The Best Accounting Software For Nonprofits?

When deliberating the right nonprofit for your organization, you’ll want to consider factors including whether or not you can afford it, what features it provides to help achieve your accounting requirements, and whether or not you can upgrade your software as your company grows. 

Firstly, you’ll want to determine whether or not your chosen software provides you with a free trial or a version you’re able to try out before making any decisions. Tip: look for ones that offer a discount for nonprofit businesses. 

After this, you’ll want to determine the price of each package and whether or not this aligns with your organization’s budget. Here, it is best to narrow down the list of all the software packages you can afford. 

Once done, you should then make a list of all the features your organization requires in order to track, manage, and report its taxes and funds. Some features to look out for include the ability to process payroll, allocate and track restricted funds, and support in completing your 990 Form. 

Once again, you can reference your list and narrow it down to all the organizations which provide you with these necessary features. Determine which providers ensure your requirements are met. 

After selecting an affordable software and plan that takes into account all your accounting functionality and features for your nonprofit, you can begin to look further into its more advanced plans. 

Here, once again, you can determine the likeness of whether or not you can afford them and if they contain all the necessary features that will benefit your company as it grows. 

Frequently Asked Questions

What Is Accounting Software?

Many businesses will use accounting software in order to complete accounting and bookkeeping tasks. Here, all your organization’s financial data is stored in one place – allowing you to undertake all your business operations with ease. 

For instance, with the help of accounting software, you’re able to track and store your organization’s payroll, expenses, and transitions. 

Moreover, it can also be used to record incoming grants and donations, as well as run reports. Not only can accounting softwares help you to save time, but it can also handle bank reconciliations, allowing you to speed up tasks, including bill payment, payroll, and invoicing. 

Is Accounting Software Secure?

Accounting platforms available in today’s market provide users with stand security features, ranging from secure credential tokenization to data encryption, and much more. 

Despite human error being inevitable when it comes to security breaches, you can rest assured that your accounting platform will keep all your information safe and secure. 

Final Thoughts

When it comes to running a small non-profit business there are a lot of stresses involved. However, don’t let your accounting be one of them! 

With the help of accounting software, you’ll be able to meet all your accounting requirements and functionality in one place. 

Not only is this easier for your organization – allowing you to focus on the most important tasks – but they are generally inexpensive, too. 

Hopefully, this guide has informed you on everything you need to know about the best accounting software so you can make an informed decision.