The Blog Single

Best Accounting Software For Nonprofits 2024

This hands-on approach helps us strengthen our accounting software expertise and deliver on the Fit Small Business mission of providing the best answers to your small business questions. QuickBooks is our pick for the easiest accounting software to use, since everything from uploading invoices to tracking payments and sales is a piece of cake. You can schedule payment reminders to be automatically emailed to customers, and even create a multitude of messages to be sent at different points during your chasing. Reports can be scheduled to generate weekly, monthly, quarterly, or annually in PDF, CSV, or XLS formats.

What are the most important features in free accounting software?

• The dashboard is well organized with clear graphics for each feature and easy-to-read reports that simplify finances for non-accountant business owners.
• MoneyMinder offers volunteer management tools that allow nonprofits to track volunteer hours in relation to events and generate reports.
• We collect the data for our software ratings from products’ public-facing websites and from company representatives.
• Salary competition and budget constraints are some of the factors leading to a challenging hiring environment.
• Your nonprofit has important work to do, but limited resources to do it with.
• The best business structure for your business will depend entirely on what kind of company you form, your industry and what you want to accomplish.

While the location of your organization determines the default currency, there are several other currency options that you can choose from to accept donations from donors all across the world. MoneyMinder offers additional services like bank integration and MyStore. MoneyMinder was specifically created for volunteer-led nonprofit organizations that are often overwhelmed by complex accounting programs.

You’re our first priority.Every time.

This program integrates with Raiser’s Edge, a program of choice for donor and constituent management, and allows you to track expenses and budgets across fiscal years. QuickBooks integrates with several apps used by nonprofits including Kindful. If you use these apps as part of your fundraising campaigns, you can sync the data and import transaction details to streamline your reporting. If you upgrade to the Gold, Platinum, or Diamond plans, you can even get payroll services for your organization and pay your staff directly through QuickBooks. If you find yourself spending a lot of time chasing down payments, be they board pledges, consulting revenue, membership fees or subgrants, FreshBooks may be the right choice for you.

Register Your Business and Obtain an EIN

• When choosing free accounting software, it’s important to consider your needs.
• Start-ups and other small nonprofit organizations want to ensure their basic needs are met while keeping costs down as much as possible.
• When compared to Aplos, our top pick, Wave serves well for fundamental accounting needs at no cost, but lacks the specialized features for nonprofits that Aplos provides.
• The most basic purpose of accounting software is to track revenue, expenses, assets, and liabilities and produce a balance sheet and profit and loss (P&L) statement.
• QuickBooks also has the absolute best mobile accounting app you can find.
• This makes it a great choice for consulting firms and marketing agencies that bill clients based on the time worked by their employees.
• You don’t need to be a CPA to master your organization’s financial matters.

Each subscription includes a 24/7 online Help Center, phone support, online webinars, personalized training, local user groups and an annual client conference. Put simply, whatever support format is easiest for your church is available with Realm. FreshBooks’ software stands out for its ability to track expenses and restricted funding. For example, time-tracking tools tell you how long it takes an employee to complete a project’s task. Once you know the time employees spend on a project, you can allocate project funds to those employees. You can also connect a bank account and FreshBooks will generate spending reports.

FreshBooks – Best for Cloud-based Accounting & Expense Tracking

Accounting software is a useful investment for any business, as it helps manage finances and stay organized. However, for solopreneurs, startups, small businesses and others with limited budgets, investing in paid accounting software may not accounting services for nonprofit organizations be feasible. Luckily, there are a number of accounting software providers that offer free plans. These free plans have basic features and limited users, but they can hold you over until you can afford to invest in something more advanced.

• Wave Accounting free accounting software is best for businesses that want an easy-to-use accounting software.
• 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.
• If you’re trying to balance a nonprofit budget on, well, a budget, Xero, Zoho Books, and FreshBooks are cheaper options, and Wave Accounting is completely free.
• Sign up to receive more well-researched small business articles and topics in your inbox, personalized for you.
• We then tested and rated the free solutions in this review against those factors.

What Is the Easiest Small Business Accounting Software to Use?

The best accounting software makes managing your books easy, with precision accuracy and efficient automation. See our step-by-step guide on how to import bookkeeping data into Wave here. Our accounting reports are easy to use and show monthly or yearly comparisons, so you can easily identify cash flow trends. There are some easy-to-use accounting software that don’t require prior bookkeeping experience. However, to get the most out of accounting software, we recommend that you work closely with your accountant.

You can handle budgets, manage bookkeeping, and create financial reports with this software. An accounting software or service can help you avoid costly mistakes and get a clear picture of your overall finances. Nonprofits have unique needs and challenges that many for-profit businesses don’t face. But like other small businesses, accounting software can be a game changer. In this article, learn about the unique accounting challenges nonprofits face, how accounting software can help, and how to choose the best accounting software for your nonprofit organization.

Benefits of Using Nonprofit Accounting Software

Aplos is an accounting software solution designed specifically for nonprofit and church/religious organizations. Users can monitor donations and deploy easy-to-use fund accounting through advanced features, such as customizable reports and donation receipts and tracking. You can also categorize expenses by program/project or fund and generate expense reports to show board members, stakeholders, and donors how the money was spent. QuickBooks helps you stay on budget with donor and grant management and automatic bank reconciliations. This is invaluable since you’ll always know your funds, ensuring you can stay within budget when executing programs and hosting events.