Nonprofits, unlike companies, don't offer goods or services for profit; instead, they concentrate on projects that help the general public, the organization's members, or a particular group. The restrictions regulating NGOs and other tax-exempt organizations make specialized accounting software necessary. The numerous sources of financing (grants, donations, gifts, and member contributions) are the main emphasis of nonprofit accounting software.

For donors to understand how their donations are used, nonprofit organizations must handle their finances honestly. Additionally, special accounting reporting is required to adhere to grant submission rules.

Let's discuss the best Non Profit Accounting tools in this top tools list.

1. Sage Intacct

The versatile and adaptable financial platform Sage Intacct offers thousands of companies worldwide comprehensive accounting capabilities.

Key Features:

• The only cloud-based financial software recommended by the AICPA, the best-in-class professional accounting software.

• Real-time company visibility via 24/7 web dashboard and report access.

• Spanning many corporate entities, comprehensive financial aggregation, reporting, and analysis.

• Customized, pre-built reports and processes.

• Simple to integrate and extend to meet your exact needs.

• Automation that saves time hastens the closure process and minimizes mistakes.

Cost:

Contact the company for the details.

2. NetSuite

Through the automation of key business operations and the provision of real-time visibility into operational and financial performance, NetSuite, an all-in-one cloud business management solution, assists more than 32,000 enterprises in operating more efficiently. NetSuite enables businesses clear view of their information and control over their business with a single, integrated suite of apps for managing accounting, order processing, inventory management, manufacturing, supply chain, and warehousing operations.

Key Features:

• You can work more productively by automating essential procedures and gaining real-time insights into operational and financial performance.

• Financial process automation. Boost productivity, efficiency, and financial operations.

• Make your inventory visible. Keep an eye on inventory levels, reduce carrying costs, and fulfill orders promptly.

• Optimization of the supply chain. Manage the movement of products along the whole value chain, from suppliers to customers.

• Exceptional Order Management. Streamline the procurement and order management procedures.

Cost:

Contact the company for the details.

3. QuickBooks

With QuickBooks Online, a cloud-based accounting program, small companies may manage their accounting, revenue, costs, payroll, and more. Multiple users may examine detailed reports and accounts of the company finances on one dashboard thanks to QuickBooks Online's automated syncing of a whole business finance profile. The software generates billing and invoicing solutions that are all mobile-compatible and print-friendly, as well as trade, profit, and loss sheets. Users may design their unique reports and feed them inside the dashboard so that companies only see the most critical information.

Key Features:

• Users may construct customized feeds and charts and check in to their QuickBooks Online backend from any location with an internet connection. No software download is necessary.

• All entered data is safely stored in the cloud and is exportable to Excel files. QuickBooks Online will track customers' payments, and any processing issues will be reported.

• Support is included in every QuickBooks Online plan, from initial setup to continuing support inquiries. The price plan covers all future updates and upgrades. In addition, users have access to a 30-day free trial before making a purchase.

• All linked devices and users connected to each package will automatically sync with QuickBooks Online. Users can impose an internal hierarchy by setting constraints for each user.

Cost:

Contact the company for the details.

4. Serenic Navigator

The most popular cloud-based Enterprise Resource Planning (ERP) solution on the Microsoft Cloud is Serenic Navigator. It provides cutting-edge functionality and commercial acumen to help the particular difficulties encountered by local governments, K–12 schools, and charitable organizations. Serenic Navigator will assist you in making the most of every dollar, for every donation, every day, regardless of whether your goal is to provide services to the poor, advance the arts, or run independent, decentralized offices abroad.

Key Features:

• Serenic Navigator combines core functionality with the sector-specific functionality your nonprofit requires into a single solution, reducing data duplication caused by disjointed systems and enhancing staff productivity, visibility of financial performance, and accountability — from program managers to the CFO.

• Technologies for ubiquitous data analysis and role-based Key Performance Indicators (KPI) tracking to enable better decision making.

Cost:

Contact the company for the details.

5. Aplos

The cloud-based Aplos system was created specifically to meet the demands of religious and charitable institutions. Fund accounting, online gift administration, reporting capabilities, fundraising tools, event management, and customized messaging are all included in the full-featured platform known as Aplos. Online contribution tools, personalized communications, donor database reports, and event registration are all ways that users may generate money.

Key Features:

• You may easily keep track of your money so that you're prepared for the limited gift-related financial reporting obligations. Use tags to organize campaigns or projects and a customizable chart of accounts.

• Create and store nonprofit reports like an income statement by fund or balance sheet by fund. Profit from budgeting reports, donation reporting, or custom reports.

• Intelligent donor database with dynamic contact lists, automated gift monitoring, and pledge tracking for improved connections.

Cost:

Aplos package starts at $39.50/mo.

6. Blackbaud Financial Edge NXT

For small to big NGOs and governmental organizations, Financial Edge NXT is a cloud-based fund accounting platform that enables users to assist fundraising efforts and track program effectiveness from a single location. Using cutting-edge financial reporting solutions, accounting teams can effectively handle transactions, securely communicate information, eliminate manual procedures, and promote transparency and financial management.

A general ledger system with tools for account segmentation and transaction attributes is part of Financial Edge NXT. With the ability to record transaction information and demand that funds balance by grant, project, department, and more, users are able to maintain a simplified account structure. The ERP module from Blackbaud assists in automating data flow throughout the business, enhancing donor transparency, and removing redundant data entry.

Key Features:

• Utilize Blackbaud's ERP to automate information flow between offices and streamline communication throughout the whole enterprise.

• Blackbaud's bespoke reports and customized dashboards let you review important data while getting a more in-depth look at transactions for financial planning and analysis.

• By keeping all grant-related data in a single system and doing all grant administration procedures there, you may reduce the need for spreadsheets.

• Manage cash flow, accounts payable, and accounts receivable using effective workflows to guarantee that the company's spending guidelines are followed and to cut back on time-consuming manual operations.

Cost:

Contact the company for the details.

7. MIP Fund Accounting

A complete, customizable fund accounting solution is MIP Fund Accounting. MIP is built to address the complicated financial management and fund accounting demands of charity and governmental organizations because to its end-to-end flexibility and multi-segmented chart of accounts.

Key Features:

• Chart of Accounts that has many dimensions

• Utilizing cutting-edge security, transparent audit trials, and strong internal controls, fraud prevention and error protection

• only provider of choice, providing both on-premises and cloud deployment

• Payroll is a part of a fully integrated HR management suite.

• being able to scale and expand to manage limitless grants and finances

Cost:

MIP fund accounting package starts at $0.01

8. Accounting Seed

The Salesforce Platform powers Accounting Seed, a comprehensive accounting solution. General Ledger, Project Accounting, and Enterprise Resource Planning make up the three main parts of Accounting Seed. Full accrual accounting with a sub-account structure that supports 4 distinct segments is one of the features of the general ledger. You may manage projects and project tasks inside the same ledger with this component.

Key Features:

• Billing and Invoicing: Use Accounting Seed to set up recurring billing and use several PDF invoice types with built-in approvals.

• Paying: Use your online browser to print checks. Both cash disbursements and accounts payable are manageable. Additionally, the program offers paper or digital cash distributions.

• Accounting Seed may be used to build the fundamental financial reporting in Salesforce. You have the option of producing fully-formatted or user-defined financial statements.

• Time tracking and spending may be managed with the app's built-in time cards, and you can also track and report on expenses.

Cost:

Contact the company for the details.

9. MoneyMinder

The nonprofit accounting program MoneyMinder was created for volunteer-based organizations. It enables organization treasurers to oversee all aspects of their finances, link bank and merchant service accounts, reconcile bank accounts, input banking transactions, track members, volunteers, and donations, create budgets, produce reports, and save records.

Key Features:

• Organize all of your financial affairs.

• Sync up your financial accounts.

• participants, contributors, and volunteers

• Run accounting reports

• Maintain documents

Cost:

MoneyMinder pricing starts at $149/year.

10. ShelbyNext Financials

A cloud-based accounting and financial management program for churches, non-profits, ministries, and other religious institutions is called ShelbyNext Financials. ShelbyNext Financials assists businesses in meeting their financial obligations and getting ready for internal, external, and board of directors audits.

Key Features:

• General ledger, payroll, accounts receivable, accounts payable, and others are important.

• Managers may compute gross wages, taxes, and other deductions and submit paperwork for federal, state, and local obligations using ShelbyNext Financials' payroll tool.

• The buying management system allows businesses to monitor and approve purchase orders from a single interface.

Cost:

Contact the company for the details.

11. FastFund Online Fund Raising

FastFund Online is the only cloud-based service that combines nonprofit fund accounting, fund raising donor management, and payroll into a single system to meet all of your fiscal management needs.

Consider the many management duties necessary to successfully manage a nonprofit, such as grant proposals and reporting, fundraising, program administration, payroll, fiscal management, and legal compliance.

Key Features:

• Your financial, payroll, and development systems are all effortlessly integrated by FastFund Online into a single, all-inclusive source of solutions.

• You can now devote more resources to achieving your objective through the organization-wide sharing of information and the simplification of procedures.

• The best tool for the task is FastFund, which enables you to work more productively, offer more thorough information to manage programs, be ready for audits, and support management in making better and more informed choices.

• You can allocate extra funds with FastFund to concentrate on and complete your task.

Cost:

FastFund Online Fund Raising package starts at $42/month.

12. Billhighway

A chapter management tool called Billhighway assists huge organizations and groups with many components in managing their finances and data. Billhighway assists these businesses in bringing all of their data together to maintain a properly structured financial flow and maintain operations. Three primary sorts of organizations—associations, labor unions, and fraternities—are the target of Billhighway's marketing efforts. Using user data, expanding your organization's membership, and automating the manual data gathering and fundraising processes.

Key Features:

• Billhighway Synopsis Overall, Billhighway offers organizations a method to keep each chapter informed about what's occurring nationally and nationally.

• Adopting successful strategies at parent branches by other branches is made possible by this transparency.

• Additionally, it offers automation in crucial income areas, enabling organizations to save money and allocate resources and staff to more crucial aspects of their association, fraternity, or labor union.

• This enables companies to concentrate on their core missions and objectives rather than labor-intensive administrative and financial chores.

Cost:

Contact the company for the details.

13. Fund EZ

Accounting software for nonprofits like Fund EZ provides transparency into every aspect of their business. The tool assists users in developing and monitoring budgets for various projects, programs, grants, funding sources, departments, locations, etc., by comparing actual spending to planned spending for each fiscal year.

Most NGOs, including those concerned with animal welfare, healthcare, higher education, faith-based organizations, and other areas, may benefit significantly from Fund EZ's basic fund accounting module. A customized chart of accounts, balance sheets, and customizable reports may all be made with the Fund EZ Pro add-on for more prominent NGOs.

Key Features:

• All budgets, including those for several projects or grants, various funding sources, or various departments, may be created and tracked using Fund EZ.

• The software doesn't depend on the fiscal year.

• The logical interface of Fund EZ enables users to sort, filter, export, print, and email information and access all relevant data.

Cost:

Contact the company for the details.

14. AccuFund for Nonprofits

For municipal governments and charitable groups, there is a fund accounting system called AccuFund. It has a solid foundation that includes accounts payable, cash receipts, a general ledger, bank reconciliation, financial and budget reporting, and more. Invoices and checks are automatically sent to the appropriate accounts, and there is interface with bank reconciliation so users can track and pay bills within the system. The bank reconciliation module also allows users to record received cash, distribute currency among accounts, and confirm deposits.

Key Features:

• With the capacity to manage an infinite number of bank accounts, invoices and cheques submitted into the system are immediately sent to all necessary accounts.

• For bank reconciliation, checks and deposits can be bundled in a single system with previous bank reconciliations saved for inspection or reporting and records of interest or other fees that have been paid.

• Users may choose which users can view, modify, and remove content using built-in permissions and access controls, along with distinct IDs and passwords for each user.

• Users may build reports using templates and modify reports to fit their needs, including financial and budget reports, using the report designer's columnar writer for ad hoc reporting and a standard writer for production reporting.

Cost:

Contact the company for the details.

15. BUCS Fund Accounting

Budgetary Control System is known by the abbreviation BUCS, and the term is rather appropriate given that it is an integrated accounting system that is available as a single app. The designers decided to start from scratch rather than modify an already-released commercial product. They were then free to adapt each element to the particular requirements of fund accounting processes. It fully complies with all applicable government accounting regulations as a consequence.

Key Features:

• The allocation processor can help fund managers responsible for managing various cash accounts make sure they allocate money as effectively as possible.

• Non-profits that receive funding from non-profit organizations must track how those funds are used.

Cost:

Contact the company for the details.

16. GigaTrak Tool Tracking System

A comprehensive Cloud or Self-hosted tool management solution for the construction sector is GigaTrak Tool Tracking Software. Barcodes, QR codes, and RFID are all supported. Everything you need is included, top-notch software, portable scanners, barcode printers, label designers, asset tags, geo-tagging, reporting, individualized training, and technical support from a US-based company. This is a step above other asset management options and will do the trick.

Key Features:

• Users may establish a thorough and unified catalog for all of their equipment information by adding tool information with photos, bins, and documents.

• Users may create barcode labels, print them, apply them to tools, and scan them to make it simple to check them in and out.

• More than 50 special reports are included in the Tool Tracking System, giving customers a quick and straightforward way to assess equipment assignment, history, depreciation, and worth.

• A tool tracking system ensures that jobs and employees are held responsible for the equipment they check out by providing a complete tool history for each transaction.

Cost:

Contact the company for the details.

17. PEAK 15

A cloud-based travel management tool called PEAK 15 assists tour operators in managing reservations, marketing initiatives, and customer relationships. To develop unique itinerary proposals for customers, users may access customized profiles, vendor services, example itineraries, templates, and inventory.

Key Features:

• Travel agents may use PEAK 15 to determine pricing suggestions based on goal profit margins, projected group sizes, and age distributions.

• Managers may develop clients' profiles by employing facts like emergency contacts, prior encounters, booking history, and passport information.

• It enables customers to create personalized marketing lists by tracking company performance and customer behavior.

• Operators can receive inquiries by phone, online, or email, and task checklists can be made to direct follow-up procedures.

Cost:

Contact the company for the details.

18. NonProfitPlus

Enterprise resource planning (ERP) and accounting software called NonProfitPlus was created especially for nonprofit companies. NonProfitPlus is designed specifically for non-profit organisations and is built on the Acumatica architecture. It has features including fund accounting, grant administration, donor tracking, encumbrance accounting, reporting, and more.

Key Features:

• Make sure that organisation money are being spent in accordance with their established policies by managing and tracking fund accounting and revenue inside NonProfitPlus.

• With tools for managing daily duties associated with grants, managing grant budgets, tracking spending, documenting donations, logging activities, and producing reports on both grants and donations.

• Set up volunteers in the NonProfitPlus system and give them their own unique logins so they can keep track of their time and submit receipts for the work they have done as volunteers.

Cost:

Contact the company for the details.

19. ChurchTrac

A cloud-based church management tool called ChurchTrac aids in keeping track of parishioners and expanding the ministry. The software has a wide range of capabilities, such as management of memberships, donations, attendance tracking, volunteer assistance, and event planning.

Key Features:

• Pledges, contributions, and other donations are tracked and recorded using ChurchTrac, which also creates detailed tax and reconciliation reports.

• The programme enables church managers to divide up members into various committees and keep tabs on attendance and communication.

• Users can build and update their profiles using the programme, and church administrators can control access and secure each member's data.

Cost:

ChurchTrac pricing starts at $6/month.

20. Wave Accounting

For small firms with nine or fewer employees, Wave is an entirely integrated solution. You won't ever have to wade through inflated or cluttered search results because to our sole focus on small business owners. It's never been simpler to discover what you need, when you need it, thanks to an intuitive UI and a single login. Gain the insights you need without doing the work by utilising Wave's 100% free accounting solutions.

Key Features:

• With nine employees or fewer, true small company owners are Wave's only priority. This guarantees that you'll never encounter cluttered, challenging software that you can't even begin to comprehend.

• With just one login, you will be able to access all the resources you need to improve your understanding of both your personal and corporate finances.

• With Wave, you can pay your employees more quickly, get information about the financial health of your company, see where your money is going, and be paid.

Cost:

Wave Accounting pricing starts at $20/month.

21. Silvertrac Software

A real-time guard management and security incident reporting tool called Silvertrac aids security businesses in effectively monitoring and handling problems, jobs, and occurrences. The system was created for internal operations of all sizes and private contract security firms that are wanting to optimise internal processes and guarantee quick, on-site accountability.

Key Features:

• For easy access, SilverTrac software unifies all security, maintenance, and parking issues into a single dashboard.

• Users have access to a variety of detailed reports, including daily activity reports, summary reports, incident reports, and trend data.

• In order to identify any underperforming officers and demonstrate their value to clients, Silvertrac offers guard performance measures.

Cost:

Contact the company for the details.

22. Jenesis Software

An insurance agency management tool called Jenesis Software is intended to assist independent agencies in connecting with prospective clients, maintaining relationships with current customers, and strengthening bonds with policyholders. Enterprises may scan documents, preserve email attachments from insurance providers, and export them to various devices using Jenesis' electronic filing solutions.

Key Features:

• Customers with insurance can access policy paperwork, insurance certificates, and much more through the client portal.

• Email Integration feature icon: Features of email integration include the well-known Inbox, Sent, Drafts, Trash, and folders. Emails sent and received by a customer are recorded in their profile.

• Automated Email Marketing: Boost sales with marketing campaigns while saving time and money.

• Acord Library: To give you flexibility, the Acord Forms Library contains several frequently used blank and pre-filled Acord forms.

• Printing or emailing invoices to your customers is possible.

Cost:

Contact the company for the details.

23. QNE Accounting Software

Specifically created to meet the needs of regional business practises and difficult environments in Southeast Asia, QNE Software is an accounting system software that includes Financial Accounting, Billing, Sales Distribution, Purchase Distribution, Inventory, Point of Sale, Cloud Computing Solutions, and more.

Key Features:

• With QNE Accounting System, you can meet your deadlines on time every time!

• Boost the effectiveness of your team when working remotely

• Organize all of your financial reports into a single, effective method.

• Get rid of the tedious and repetitive duties.

• Keep Your Record Clear And Complete Your Tasks

Cost:

Contact the company for the details.

24. Cheqbook Accounting

The AccuScore Smart Categorization feature, unlimited concurrent users offered in all plans, the fact that Cheqbook is a fully complete accounting software, the capacity to produce accrual accounting, journal entries, notes by line items, and more are just a few of the features accessible.

Key Features:

• Unlimited Multiple Users Can Be Created

• Create journal entries and separate transactions.

• Use your iPad or Android tablet to view your books.

• Export contacts and transactional data

• Quick Bank Consolidation

Cost:

Cheqbook Accounting pricing starts at $9.87/month.

25. Flare Accounting

Designed for small to medium-sized organizations, Flare Accounting offers features including a customer database, customized platform, comprehensive reporting, CRM, project status, billing, and role-based permissions.

Key Features:

• Reduced risk, increased financial compliance, and improved customer service are all advantages for firms.

• Businesses may also reconcile asset inventories, track ongoing construction projects, and calculate depreciation for tax and financial reporting thanks to Flare Accounting's asset tracking and management features.

Cost:

Contact the company for the details.

Things to consider while choosing NonProfit Accounting Tools

Budget

Large operating expenses are ordinary in commercial companies but not nonprofit ones. The software's price and value should be considered, though they shouldn't be the deciding factor. You should view the original cost, the monthly maintenance charge, the cost of upgrades, and the price of staff training. Instead of settling for a less expensive, less helpful package that may cost you more in the long run, do your homework and pick the software that will work ideally for your firm. It may be less expensive than you think to update and replace your outdated accounting software with a practical, best-in-class accounting solution designed specifically for nonprofit organizations. This will also save you time and money.

Features

Accounting for nonprofits differs in specific ways from accounting for businesses. Therefore, selecting accounting software with all the capabilities you need to manage your nonprofit accounting effectively is preferable. Before that, you must be aware of the complexity of your accounting, the rate of expansion of your business, and the future functions your accounting will require. You should seek crucial elements such as grant and project management skills and tools to monitor and anticipate the budget.

Integration

Integration with third-party company management programs, including CRM and payment programs, is essential. An additional benefit has an online member portal that works well with the accounting system for nonprofit organizations like associations, clubs, and societies. Members may use it to browse their profiles, pay their dues, and do other tasks. By doing this, the organization may offer quick online and mobile access to account information while also lowering the cost to service members.

Security

Since you are dealing with essential financial data for your organization, security is the essential factor to consider when selecting your fund accounting. You must get answers to critical issues, such as what security measures are in place, where the data servers are located, and how non-accounting professionals may access financial data. One-half of the security issues may be resolved by using cloud-based accounting software because all cloud hosting providers are highly protected. In addition, small nonprofit organizations have limited resources, no permanent office space, and staff members who work remotely. Therefore, cloud-based software can be the ideal solution.

FAQs

What is Nonprofit Accounting Software?

Software specifically designed for charitable organizations may be a crucial tool for keeping track of finances in an efficient and accurate manner. Any nonprofit organization seeking to adhere to the exacting accounting standards that nonprofits are required to observe would find nonprofit accounting software to be a helpful asset. These solutions provide openness inside an organization and make it easier for nonprofits to comply with accounting rules. The financial knowledge they offer may also assist leaders in developing organizational strategies.

What are the features of Nonprofit Accounting software?

• Users of nonprofit accounting software can develop donor contribution reports that include all of the organization's annual donations.

• Grant and endowment management capability is frequently included in nonprofit accounting systems. This feature gives users a clear picture of all organizational grants and endowments that an organization has applied for, given, and received.

• Although there are other invoicing software options, charity accounting software has a rich feature set that makes it attractive. Solutions in this area can include a special tool that enables users to make and customize invoices. Users may construct many templates tailored to the demands of a business rather than wasting time writing a fresh invoice every time.

Why Use Accounting Software for Nonprofits?

Nonprofit accounting software users might benefit from a wide range of advantages. Free accounting software could be enough in the beginning of your business. Still, as donations increase and operations get more intricate, you'll need a system to manage the volume and complexity of boosted income streams. The accounting standards used by nonprofits differ significantly from those used by for-profit businesses. Nonprofits have a variety of cash sources and rigorous guidelines controlling how to spend that money for specific purposes.

Who Uses Accounting Software for Nonprofits?

For openness, everyone inside a nonprofit organization should have access to the nonprofit accounting system. However, there are a few positions inside the company where intensive software usage is more necessary. Let's examine more closely which positions inside these businesses make the most use of these solutions.

Chief Financial Officer (CFO) - Nonprofit CFOs are responsible for various tasks. They are not in charge of making money in the not-for-profit industry. The CFO's responsibilities will vary depending on the organization and sources of income. Still, a significant component of what they do is ensure that the accounting inside the company is sound. They may make informed financial decisions and, eventually, improve the entire business strategy by using nonprofit accounting solutions.

Accounting Staff - Charged with doing daily accounting tasks, accounting staff is the group that interacts with nonprofit accounting solutions regularly. For this group of employees, nonprofit accounting software makes tracking donations, reporting, and audits simpler.

What three categories of nonprofits exist?

Charitable Organizations Come in Three Main Types. Public charities, private foundations, and private operating foundations are the three primary categories that most organizations can join.