Because nonprofits have to abide by specific rules set by the IRS, it’s helpful to have an accounting tool that makes it easy to keep your finances organized. The right accounting program can help a nonprofit simplify and streamline bookkeeping tasks, as well as ensure that financial reporting is accurate and up to IRS standards. Beyond keeping your nonprofit compliant, an accounting tool can also help you manage the books with fewer resources than a for-profit organization.
These accounting tools include features specifically designed to help nonprofits track donations, record in-kind donations, track spending, and keep compliant with IRS rules.
QuickBooks for Nonprofits
QuickBooks by Intuit is a popular tax and accounting software program for all types of businesses. The platform released a version of QuickBooks built specifically for nonprofit organizations. QuickBooks for Nonprofits is equipped to help you track donations and grants, create specialized reports, and manage expenses. Upgrade to QuickBooks Enterprise Nonprofit to get even more rigorous features designed for nonprofit accounting management.
[Read more: A Guide to Small Business Accounting]
ACCOUNTS by Software4Nonprofits
ACCOUNTS is a great pick for small nonprofit organizations with uncomplicated bookkeeping needs. It’s a user-friendly platform designed for groups that need basic bookkeeping and accounting features, like the ability to track expenses and income, fund balances, and create detailed reports. There’s a separate program, DONATION, that can also be used to track donations and offer receipts.
“If you’re responsible for managing the accounting for multiple organizations, such as the school PTA and your child’s sports team, you can use the software to handle the accounting for both at no additional cost,” wrote Investopedia.
Blackbaud Financial Edge NXT
Blackbaud offers a range of tech tools for nonprofits, and its accounting tool, Financial Edge NXT, has powerful reporting, budgeting, and analysis capabilities. Financial Edge can do it all, from financial planning to grant accounting and fundraising campaigns. Plus, internal controls and other security protocols allow your system administrator to protect donor information through user access permissions.
MoneyMinder’s intuitive dashboards and accounting tools allow users to create budgets, track costs, reconcile bank accounts, and record receivables.
Blackbaud’s other programs make this option great for growing nonprofits. “One of the most prominent advantages of Blackbaud Financial Edge NXT is their ability to streamline information and nonprofit processes through the use of integrations with other Blackbaud products,” wrote Fundly.
Aplos
Aplos offers accounting tools, and then some. Not only do you get built-in fund accounting and the ability to accept donations, but Aplos’ platform also has team management tools, email marketing, and analytics that go beyond basic accounting reports. It’s also one of the more affordable tools on the market, making it a good fit for small and large nonprofits alike.
[Read more: 10 Free Accounting Tools for Your Small Business]
Araize FastFund Accounting
Araize FastFund Accounting is a cloud-based accounting system that can be accessed from any web browser, making this option a good fit for remote or global nonprofits. Through the secure online platform, teams can handle bank reconciliations, generate accounting reports, create budgets for departments or grants, and generate the data to complete IRS tax forms. Ancillary products from Araize, like payroll services, make this solution easy to scale with your nonprofit. In addition to a robust accounting system, Araize also offers a nonprofit accounting course to help train your team in essential nonprofit accounting skills.
MoneyMinder
If your organization is mostly staffed by volunteers with little to no accounting experience, MoneyMinder might be the best fit for you. “It’s easy to use, so even if you have no bookkeeping experience, you can navigate the program and take advantage of its features to manage your organization’s finances,” wrote Investopedia.
MoneyMinder’s intuitive dashboards and accounting tools allow users to create budgets, track costs, reconcile bank accounts, and record receivables. It integrates with your organization’s bank account as well as PayPal (available in the paid version). One standout feature is the ability to track volunteer hours, as well as donations, although other donor management tools are limited.
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