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Nonprofit Accounting Software


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Intacct logo
 
Intaact offers a financial management solution for nonprofit organizations that manages grants, funds, projects, and donors. This helps automate accounting processes and boosts operational visibility.
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Intaact offers a financial management solution for nonprofit organizations that manages grants, funds, projects, and donors. This helps automate accounting processes and boosts operational visibility.
 
Aplos Fund Accounting logo
 
Aplos Accounting was built to simplify the often-complex process of fund accounting for small nonprofit organizations. This full-featured, best-of-breed application supports the assignment and tracking of important data.
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Aplos Accounting was built to simplify the often-complex process of fund accounting for small nonprofit organizations. This full-featured, best-of-breed application supports the assignment and tracking of important data.
 
Financial Edge by Blackbaud logo
 
Offering best-in-class fund and grant management, and top of the line reporting features, Blackbaud's Financial Edge NXT is a great election for nonprofit organizations. It's a user-friendly and intuitive solution.
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Offering best-in-class fund and grant management, and top of the line reporting features, Blackbaud's Financial Edge NXT is a great election for nonprofit organizations. It's a user-friendly and intuitive solution.
 
DENALI FUND logo
 
DENALI FUND by Cougar Mountain Software is robust accounting software solution designed specifically for nonprofit organizations. It fully conforms to GAAP and is ideal for organizations balancing multiple fund ledgers.
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DENALI FUND by Cougar Mountain Software is robust accounting software solution designed specifically for nonprofit organizations. It fully conforms to GAAP and is ideal for organizations balancing multiple fund ledgers.
 
Abila MIP Fund Accounting logo
 
Abila MIP Fund Accounting software provides a cloud-based or on-premise solution exclusively for nonprofits and government agencies. It is an integrated solution providing core fund accounting, payroll, human resources, and more.
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Abila MIP Fund Accounting software provides a cloud-based or on-premise solution exclusively for nonprofits and government agencies. It is an integrated solution providing core fund accounting, payroll, human resources, and more.

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NetSuite logo
 
With NetSuite's unified business management solution, nonprofit organizations can manage their entire end-to-end operations with a single business application. It integrates accounting, fundraising, customer relationship management... Read More
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With NetSuite's unified business management solution, nonprofit organizations can manage their entire end-to-end operations with a single business application. It integrates accounting, fundraising, customer relationship management... Read More
 
FUND E-Z Fund Accounting logo
 
FUND E-Z is an affordable and navigable nonprofit accounting solution. This system automates complex accounting while providing features for fundraising and grant, donor, and project management.
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FUND E-Z is an affordable and navigable nonprofit accounting solution. This system automates complex accounting while providing features for fundraising and grant, donor, and project management.
 
AccuFund Accounting Suite logo
 
Designed specifically for nonprofit organizations, AccuFund for Nonprofits is a simple, intuitive system with several customization options. It offers general ledger, financial reporting, bank reconciliation, and more.
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Designed specifically for nonprofit organizations, AccuFund for Nonprofits is a simple, intuitive system with several customization options. It offers general ledger, financial reporting, bank reconciliation, and more.
 
Abila Millennium (formerly Sage Millennium) logo
 
Abila Millenium (formerly Sage Millennium) is a comprehensive, web-based solution designed to handle the often complicated and unique needs of nonprofit organizations and agencies looking to streamline and simplify their fundraising... Read More
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Abila Millenium (formerly Sage Millennium) is a comprehensive, web-based solution designed to handle the often complicated and unique needs of nonprofit organizations and agencies looking to streamline and simplify their fundraising... Read More
 
Unit4 Business World logo
 
UNIT4 Agresso is a comprehensive ERP solution that can help large nonprofits boost their financial accountability, transparency, and efficiency. It also offers features that monitor regulatory and reporting requirements.
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UNIT4 Agresso is a comprehensive ERP solution that can help large nonprofits boost their financial accountability, transparency, and efficiency. It also offers features that monitor regulatory and reporting requirements.

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Sparkrock logo
 
Sparkrock is an all-in-one solution for large and midsize Nonprofit organizations. It offers Finance & Accounting, Workforce Management, Payroll, Employee Scheduling, Case Management and Donor Management. Each module can be purchased... Read More
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Sparkrock is an all-in-one solution for large and midsize Nonprofit organizations. It offers Finance & Accounting, Workforce Management, Payroll, Employee Scheduling, Case Management and Donor Management. Each module can be purchased... Read More
 
StratusLIVE for Fundraisers logo
 
StratusLIVE for Fundraisers is a web-based solution designed for mid-sized and enterprise-class non-profits. The fully integrated suite focuses on relationship management with features to support online and traditional fundraising,... Read More
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StratusLIVE for Fundraisers is a web-based solution designed for mid-sized and enterprise-class non-profits. The fully integrated suite focuses on relationship management with features to support online and traditional fundraising,... Read More
 
Wild Apricot logo
 
Wild Apricot is an all-in-one membership management system used by over 15,000 professional, business and trade associations, chambers of commerce, nonprofits, charities, clubs and community organizations. It supports organizations... Read More
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Wild Apricot is an all-in-one membership management system used by over 15,000 professional, business and trade associations, chambers of commerce, nonprofits, charities, clubs and community organizations. It supports organizations... Read More
 
Donor Tools logo
 
Donor Tools is a Web-based donor management application developed by Higher Pixels. Designed for small and midsize nonprofits, charities and faith-based organizations, this system allows fundraisers to track contributions from 500... Read More
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Donor Tools is a Web-based donor management application developed by Higher Pixels. Designed for small and midsize nonprofits, charities and faith-based organizations, this system allows fundraisers to track contributions from 500... Read More
 
Sumac logo
 
Sumac is an affordable, intuitive software system designed for non-profits that need technology to manage fundraising and donor management, contact management, event management, marketing outreach and membership management. This software... Read More
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Sumac is an affordable, intuitive software system designed for non-profits that need technology to manage fundraising and donor management, contact management, event management, marketing outreach and membership management. This software... Read More

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MemberNation logo
 
MemberNation from Fonteva is an association management system built on the Salesforce platform. This system captures and tracks all member data to give association managers a complete view of all members and activities. MemberNation’s... Read More
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MemberNation from Fonteva is an association management system built on the Salesforce platform. This system captures and tracks all member data to give association managers a complete view of all members and activities. MemberNation’s... Read More
 
Orange Leap On Demand logo
 
Orange Leap is a Web-based solution for nonprofit organizations seeking fundraising and CRM tools. Suitable for small- to mid-sized NPOs, this solution easily integrates with current accounting and email marketing systems.
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Orange Leap is a Web-based solution for nonprofit organizations seeking fundraising and CRM tools. Suitable for small- to mid-sized NPOs, this solution easily integrates with current accounting and email marketing systems.
 
YourMembership.com logo
 
YourMembership.com is an integrated suite of online membership management applications used by associations and other member organizations to engage members, track financial data and support administrative processes. This platform... Read More
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YourMembership.com is an integrated suite of online membership management applications used by associations and other member organizations to engage members, track financial data and support administrative processes. This platform... Read More
 
Fluxx logo
 
Fluxx is a cloud-based grant management solution. It caters to small, midsize and large nonprofit agencies, government agencies and corporations. Primary features include grant and application management, budget and finance management,... Read More
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Fluxx is a cloud-based grant management solution. It caters to small, midsize and large nonprofit agencies, government agencies and corporations. Primary features include grant and application management, budget and finance management,... Read More
 
FundRaiser logo
 
FundRaiser Software has evolved over the last quarter century into a powerful, comprehensive solution to meet the unique needs of small to mid-sized nonprofits. With a focus on the smaller organizations, FundRaiser keeps their software... Read More
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FundRaiser Software has evolved over the last quarter century into a powerful, comprehensive solution to meet the unique needs of small to mid-sized nonprofits. With a focus on the smaller organizations, FundRaiser keeps their software... Read More
 

Buyer's Guide

by Justin Guinn,
Market Research Associate
Last Updated: April 12, 2017


Here's what we'll cover:

What Is Nonprofit Accounting Software?
Common Features of Nonprofit Accounting Software
What Type of Buyer Are You?
Benefits of Accounting Software for Nonprofits
Market Trends to Understand
Recent Events You Should Know About

What Is Nonprofit Accounting Software?

Nonprofit organizations, associationschurches and faith-based ministries face different challenges than their for-profit counterparts. Among these challenges are a nonprofit’s accounting needs. Rather than managing sales and revenue, nonprofits have to manage donor contributions, fundraising events, grants, investment income, membership fees etc. In addition, with limited funds for administrative tasks and strict reporting requirements, such as FAS 116 and 117, nonprofit organizations can save time and money, while reducing the likelihood of reporting errors, by implementing a nonprofit accounting system.

Common Features of Nonprofit Accounting Software

Nonprofit accounting solutions aim to help organizations manage their finances in both an accurate and transparent manner. These solutions should include accounting features that are specific to nonprofits and enable them to:

  • Manage funds and donations: Nonprofits receive funds and donations from numerous sources (individuals, organizations and websites) and locations. They have to meticulously keep track of their earnings and expenses, as they may be subjected to federal audits. Any inconsistencies in their reports can subject them to reputation damage, fines or even legal action.
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  • Integrate online donations with primary fund pool: Donations from different countries via websites or payment portals, such as PayPal, need to be reflected in the nonprofit’s main fund pool and not as a separate account.
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  • Filter reports by varying transaction codes: Different transactions need to be assigned different codes for clarity and efficient fund management. Adding filters to expense and earnings reports will help users easily view these different transactions and provide clarity into how funds are used.
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  • Generate reports in multiple formats: Nonprofits need to be able to create and present reports in a variety of different formats, such as Excel files or PDFs. This is because most volunteers are not proficient in accounting and thus need to view reports in familiar, easy-to-use formats.
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  • Convert donations in multiple currencies: Donations or funds received in different currencies need to be integrated with the nonprofit’s primary account and converted automatically.

What Type of Buyer Are You?

Identifying what type of buyer you are can help you choose the right solution. You should be aware of your unique needs and pay only for the features you deem necessary. Many buyers mistakenly pay for solutions that offer a plethora of features that they rarely use. Common buyers of nonprofit accounting software include:

  • Nonprofit or voluntary organizations: These organizations depend solely on volunteer donations and sometimes receive corporate funding. Their primary expense is implementing social welfare programs and initiatives.
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  • Charities: These can be privately or publically funded organizations that work toward a single cause. These organizations receive donations from many different sources, and thus must establish a single fund for all their expenses.
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  • Churches: Funding is received primarily in the form of weekly collections and member donations. Since accounting is primarily managed by church attendees, churches need a solution that offers a simple, easy to use interface.
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  • Private schools, colleges and universities: These institutions receive state or federal funding, private donations and tuition fees. In addition to managing funds, they need to allocate resources toward staff incomes, administrative costs, maintenance, promotions and/or advertisements and other daily expenses. Most schools have in-house accountants, so their needs are more complex and varied, which means they will likely seek a more robust nonprofit accounting solution.

Benefits of Accounting Software for Nonprofits

Nonprofit accounting solutions provide organizations of all sizes the tools they need to manage income and expenses efficiently. As nonprofits are subject to federal audits, it’s important to accurately record all of an organization’s financial details. Therefore, these systems track an organization’s donations, grants, expenses, assets and transactions. Their focus in on maintaining a healthy balance between receiving donations and spending funds on welfare activities.

Similar to nonprofit accounting software, nonprofit financial software (sometimes called fund accounting software), helps achieve fiscal transparency, ensure federal reporting standards are met, maximizes donor dollars and minimizes unnecessary expenses.

Accounts in Blackbaud Financial Edge

Accounts in Blackbaud Financial Edge

These features work together so a nonprofit organization can make the most of their assets, maintain fiscal visibility, nourish their reputation and acquire lasting trust from supporters.

Market Trends to Understand

At the end of each fiscal year, nonprofit accounting regulations and end-of-year acquisitions and partnerships often become newsworthy topics. There is increased scrutiny around their operations and they are under pressure to ensure transparency, lest their funding be affected due to accounting inaccuracies.

Here are some important trends to know about:

Keep fund ledgers separate. Nonprofits must keep different ledgers for all of their fund sources: direct donations, grant monies, fundraising dollars, pledges etc. Nonprofit accounting software independently tracks fund sources and expense types, simplifying reports and ensuring accuracy.

Prioritize expenditures. Ledger reports provide a holistic overview of an organization’s financial landscape. This allows an organization to strategically prioritize future investments and upcoming expenses.

Document and meet budget goals. Having a holistic picture of an organization’s entire financial portfolio allows board members to create realistic budgets and meet associated goals.

Simplify tax preparation. Many nonprofit accounting solutions include features that prepare the Form 990—a tax form requiring certain federal tax-exempt organizations to file with the IRS.

Reinforce trust in your organization. Transparency in an organization’s financial data shows current and prospective donors how their dollars are utilized.

Prevent fraud or errors. Omissions or errors may occur due to internal deficiencies. Therefore, nonprofits should stick to the legal definitions of what constitutes contributions (revenues, gains, gifts or transfer of assets), donated services and expenses (fundraising and management).

Understanding these trends and taking appropriate steps can help a nonprofit organization maximize their available assets, ensure fiscal transparency, boost its reputation and build trust. The right nonprofit accounting software will address all of an organization’s accounting needs. Daily operations also have to be run efficiently, as the goal of a nonprofit organization is benefit the community in which they operate. For more information on software especially for nonprofit organizations, read our nonprofit buyer's guide

Recent Event You Should Know About

FASB releases new accounting standards for nonprofits. The Financial Accounting Standards Board (FASB) updated the basic financial reporting model of nonprofits in August 2016. These revisions aim to provide better insight into nonprofits’ expenses and liquidity, investments and classification of their net assets. The new rules will give donors, creditors and others a more detailed picture of the operations and financial condition of nonprofits. The guidance will apply to all nonprofits, such as charities, religious institutions and private colleges and universities, which file financial statements based on generally accepted accounting principles.

Free Download:
Nonprofit Software Pricing Guide

 

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