This being said, its custom reporting capability is only available with the Pro add-on, which will cost more than the standard system. We also like FastFund’s payroll module, which can handle various tax-exempt statuses of employees, highly relevant for nonprofit organizations. Unfortunately, this module comes at an extra cost on top of the main quicken for nonprofits system, with its lowest price being $50/month for 1-2 employees. Beyond payroll, FastFund provides fundraising CRM and fund accounting modules, including general ledger, accounts payable and receivable, and direct and indirect cost allocations. Overall, QuickBooks for Nonprofits really shines when it comes to fund accounting and reporting.
- As our best small business accounting software, QuickBooks Online is a versatile and flexible accounting solution that can adapt to a nonprofit—we have a guide on how to set up QuickBooks Online for nonprofits.
- Get matched with a QuickBooks-certified bookkeeper who understands nonprofits and keeps your books up to date.
- It also saves time, reduces errors, and ensures compliance with nonprofit accounting standards.
- Small businesses wanting to stay below that total may need to consider a more generic software such as Xero or Sage 50c.
Small-Business Grants: Where to Find Free Funding
We encourage you to research and compare multiple accounting software products before choosing one. As a nonprofit, you might be tracking the expenses of various programs and funds. QuickBooks understands this and has a function that automates this type of accounting. Nonprofits don’t rely on the sale of products, goods and services to make money. Instead, they rely on donations, grants and other profit-free income streams, which means nonprofit software should help you accept, record and track donations. Accounting software for nonprofits handles financials, invoicing, and donation and grant management for organizations.
Do I need accounting software that is designed specifically for nonprofits?
Before you sign a contract, talk to a representative from the company. They may be able to throw in additional functionality as a bonus or give you a price break based on prepaying for a full year or other possible discounts. We found it easy to not only get up and running but also to automate processes. To cite one example, QuickBooks offers extensive templates for reports and it’s simple to designate the ones you use repeatedly so they pop up with a few clicks. These reports weren’t just time-savers, they were among the most well-designed and useful of any we explored.
🏆 Our pick: The best nonprofit accounting software
You can customize, save and automate the delivery of the reports your board of directors and donors need. 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. Rather than track how much profit is earned like small businesses, nonprofit organizations track how money is spent. QuickBooks makes it easy to allocate revenue and expenditures to specific funds or programs, automatically allocates overhead to programs, fundraising, general, and administrative expenses for you. Unless you’re a power user or an accountant, business accounting software can be difficult to use.
Best for Large Organizations
Whenever possible, we recommend signing up for a free trial before purchasing a software plan. Testing the software yourself is the only real way to verify that you like the software’s setup, interface and features before committing to a purchase. Additionally, we found Blackbaud more complex to use, which led us to deduct points for ease of use. If you feel an ERP is more than you need, QuickBooks Enterprise might be a more suitable alternative. Additional users can be added for a discounted price compared with the initial user. In reviews of Araize, many people say the program is robust and powerful.
Best for Free Basic Accounting Tools
If you have a larger financial team, QuickBooks becomes a bit more expensive, charging $100 per month for unlimited users. However, even at that price, we think that the functionality and ease of use are worth the price. We collaborate with business-to-business vendors, connecting them with potential buyers. In some cases, we earn commissions when sales are made through our referrals. These financial relationships support our content but do not dictate our recommendations. Our editorial team independently evaluates products based on thousands of hours of research.
Custom software solutions save time for nonprofits by performing the exact tasks necessary to run your NPO. Automation tools from these solutions fill out tax forms, track donations, or simply check your bank account all from one source. He has a CPA license in the Philippines and a BS in Accountancy graduate at Silliman University.
Although Aplos performs well in accounting, QuickBooks Enterprise edges ahead with its dedicated nonprofit edition, offering more tailored features for nonprofit organizations. QuickBooks Enterprise has more accounting capabilities such as class and location tracking, customized reporting, a meticulous A/P and A/R process, and detailed inventory management features. Aplos is our overall best nonprofit accounting software because it has an outstanding set of general accounting features, and its key features are tailored to nonprofit operations. We consider it a powerful accounting application for medium-sized nonprofits because it provides end-to-end solutions for managing donors and members. Even though donor management tools are limited, MoneyMinder includes volunteer management tools, allowing you to track volunteer hours and create reports by volunteer or event.