Not-for-Profit Fund Accounting Software: demystifying the jargon
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The197,829 nonprofit organizations in the US have one goal in common: to serve their cause to the best of their abilities. Part of being a good steward of donations and properly allocating funds is having a good accounting system in place. The best fund accounting software for nonprofits will be affordable, will meet the specific needs of nonprofits, and will offer a high level of customer service and support. Nonprofits have to account for both cash and in-kind donations, and many times these donations are unrestricted. This means that the organization has the discretion to decide how to use the funds. Donations can be used for operating expenses, program expenses, or capital expenses. Nonprofits need to have a system in place that allows them to track all of these funds and show donors how their money is being used. There are many accounting software options on the market, but not all of them are a good fit for nonprofits. The best fund accounting software for nonprofits will offer features such as donor management, grant management, and budgeting. It is important to find a software that is affordable and offers a high level of customer service and support. With so many software options available, it can be overwhelming to try to find
1. QuickBooks Enterprise for Nonprofits 2. Abila MIP Fund Accounting 3. Sage Intacct 4. Microsoft Dynamics GP 5. Oracle NetSuite 6. Blackbaud Financial Edge NXT 7. Affinity Solutions Altru
| company | price | FORM 990 FILING GUIDANCE TOOLS |
RESTRICTED FUND MANAGEMENT TOOLS |
Learn More |
|---|---|---|---|---|
| Intuit QuickBooks | 30$ per month | Yes, Multiple | Yes | Learn More... |
| XERO |
15$ per month | NO | Yes | Learn More... |
| FreshBooks | 17$ per month | NO | Yes | Learn More... |
| ZohoBooks | FREE | NO | Yes | Learn More... |
| Wave |
FREE | NO | NO | Learn More... |
| Aplos | 99$ per month | Yes | Yes | Learn More... |
| Realm | Not listed | NO | Yes | Learn More... |
| Quicken | 4.99$ per month | NO | NO | Learn More... |
| Oracle Netsuit | Client-specific, not publicly available |
NO | Yes | Learn More... |
| Sage Intacct | Not listed | NO | Yes | Learn More... |
1. QuickBooks Enterprise for Nonprofits
QuickBooks Enterprise is one of the most popular accounting software programs among nonprofits. It is easy to use and offers a variety of features specifically designed for nonprofits, such as: - tracking donors and donations - managing pledges and payments - preparing and issuing tax receipts - preparing financial reports QuickBooks Enterprise is a comprehensive accounting solution that can help nonprofits manage their finances easily and efficiently.
2. Abila MIP Fund Accounting
Abila MIP Fund Accounting software is a great choice for nonprofits because it is designed specifically for organizations that manage grant funding. The software is easy to use and navigate, and it provides users with the ability to track expenses, income, and assets. Abila MIP also offers powerful reporting features that allow users to see where their organization's finances stand. Overall, Abila MIP Fund Accounting is a comprehensive, user-friendly software solution that is essential for nonprofits that manage grant funding. The software makes it easy to track expenses, income, and assets, and provides users with the ability to generate comprehensive reports.
3. Sage Intacct
Sage Intacct is a cloud-based accounting software solution designed specifically for nonprofits. Its features include grant management, donor management, andfinancial reporting. Sage Intacct is a scalable solution that can grow with your nonprofit, and its pricing is based on the number of users, making it a affordable for small to medium sized nonprofits. Sage Intacct’s features are geared towards nonprofits’ needs. The grant management feature allows nonprofits to track and manage grant revenue and expenditures. The donor management feature gives nonprofits the ability to track and manage donor information and contributions. And the financial reporting feature provides nonprofits with the ability to create and manage financial reports. Sage Intacct is a scalable solution that can grow with your nonprofit. As your nonprofit grows and your needs change, you can scale up or down accordingly. Additionally, its pricing is based on the number of users, making it affordable for small to medium sized nonprofits. Sage Intacct is a cloud-based accounting software solution that is designed specifically for nonprofits. If you are looking for an accounting software solution that will meet the needs of your nonprofit, then Sage Intacct is a great option to consider.
4. Microsoft Dynamics GP
Microsoft Dynamics GP is a great option for nonprofits who need fund accounting software. It is a comprehensive ERP solution that offers robust fund accounting features. Dynamics GP is easy to use and provides a great user experience. It is also scalable and can grow with your nonprofit.
5. Oracle NetSuite
Oracle NetSuite is a comprehensive, cloud-based financial management solution designed specifically for nonprofits. It offers a complete picture of your organization's finances, from program and grant accounting to fundraising and grants management. NetSuite also helps you manage your operations more efficiently, automate key financial processes, and track your impact. One of the things that sets NetSuite apart from other fund accounting software solutions is its flexibility. NetSuite can be configured to meet the specific needs of your organization, no matter how unique. And, because it's cloud-based, you can access your data from anywhere, at any time. Another key advantage of NetSuite is its scalability. As your organization grows, NetSuite can grow with you. It's easy to add users, new functionality, and even integrate with other systems. NetSuite is also highly customizable, so you can tailor it to fit your exact needs. If you're looking for a comprehensive, cloud-based financial management solution for your nonprofit, Oracle NetSuite should be at the top of your list.
6. Blackbaud Financial Edge NXT
Assuming you want a review of the software: Blackbaud Financial Edge NXT is a cloud-based accounting software solution designed specifically for nonprofits. It offers a comprehensive and scalable platform that can grow with your organization. Financial Edge NXT includes all the features you need to manage your finances, including budgeting, forecasting, reporting, and accounting. It also includes built-in intelligence and analytics to help you make informed decisions. Blackbaud Financial Edge NXT is a great choice for nonprofits looking for a comprehensive and scalable accounting solution. It offers all the features you need to manage your finances, including budgeting, forecasting, reporting, and accounting. It also includes built-in intelligence and analytics to help you make informed decisions.
7. Affinity Solutions Altru
If you’re looking for powerful fund accounting software that’s specifically designed for nonprofits, Affinity Solutions Altru is definitely worth considering. It’s packed with features to make managing your finances as easy and efficient as possible, and it’s highly customizable so you can tailor it to your organization’s specific needs. One of the things that makes Altru stand out is its comprehensiveGeneral Ledger. This gives you a complete picture of your organization’s financial health, and you can easily produce detailed reports to track income and expenses. Altru also includes a built-in fund accounting system, which makes it easy to manage and report on restricted and unrestricted funds. Altru’s Accounts Receivable and Accounts Payable modules streamline invoicing and payments, and you can automate recurring transactions to save even more time. There’s also a robust Grants Management module, which is invaluable for grantors and grantees. This module includes a built-in application tracker, so you can see the status of each grant application at a glance. Overall, Affinity Solutions Altru is a top-notch fund accounting solution that’s well suited for nonprofits of all sizes. It’s easy to use, highly customizable, and packed with features to make financial management a breeze.
The best fund accounting software for nonprofits is a great tool to have in your arsenal. It can help you keep track of your finances and make sure that your organization is running smoothly. Having this software can save you time and money in the long run and help you stay organized.