Showing 1-20 of 69 products
Blackbaud Fundraising is a cloud-based donation management platform, which helps businesses automate processes related to payment actions and track donor activities using communication tools. Key features include event management,... Read more
Recent recommendations: 80 recommendations
Driven, formerly Donor Engine, is a comprehensive nonprofit software platform that can be configured to meet a wide variety of nonprofit organizational needs with the goal of creating a single database for all data and providing a... Read more
Recent recommendations: 27 recommendations
Aplos is a cloud-based system designed specially to serve the needs of nonprofit and church organizations. The Aplos platform includes fund accounting, online donation management, reporting functionalities, fundraising tools, membership... Read more
Recent recommendations: 21 recommendations
Kindful is a cloud-based online fundraising and donor management solution designed specifically for growing nonprofit organizations. With this solution, nonprofits can manage three core aspects of fundraising - managing online giving,... Read more
Recent recommendations: 14 recommendations
MemberClicks offers a configurable, cloud-based software solution to small associations and member-based organizations. The system can stand alone as a membership website and social community or integrate with an existing website... Read more
Recent recommendations: 4 recommendations
Drive vitality and care for your church with an easy-to-use, customizable solution for churches of all sizes. Deliver a connected church through one holistic system that connects your staff, volunteers, and congregants. Use software... Read more
Recent recommendations: 3 recommendations
Raiser’s Edge NXT is an integrated, cloud-based fundraising and relationship management solution for nonprofits. Raiser's Edge NXT provide tools to streamline various activities of a nonprofit organization and provide a single view... Read more
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. Read more
Purpose-built to meet the needs of the modern nonprofit and government agency, MIP Fund Accounting® empowers organizations to track by fund, manage restrictions based on unlimited funding sources, and meet complex reporting requirements.... Read more
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. Read more
Denali FUND is an on-premise and cloud-based accounting solution designed for nonprofits with multiple funds. The product is suitable for small to midsize nonprofit organizations. Primary features include grant management, donation... Read more
Aptify is a cloud-based association management solution designed to help religious groups, K-12 schools and non-profit organizations handle memberships and establish communication with customers. Professionals can store members' personal... Read more
Sparkrock provides SaaS-based finance, workforce management, payroll and employee scheduling software built for Not-for-Profit, Health and Human Services, and Educational organizations. Their software improves staff efficiency by eliminating... Read more
Xledger is a cloud-based enterprise resource planning (ERP) solution that caters to midsize and large businesses that helps them to manage day-to-day operations by automating routines ranging from bank reconciliation to invoice entry.... Read more
NetForum Enterprise is a web-based association management system and is used by associations, nonprofits, and government agencies. The system includes modules for managing events, member profiles, membership levels, and dues. The... Read more
NonProfit+ is a cloud-based accounting solution designed specifically for nonprofits of all sizes and offers modules and suites for fund and grant accounting, financial management, and procurement management. With its modular design,... Read more
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
Wild Apricot is a cloud-based membership management system used by business and trade associations, chambers of commerce, nonprofits, charities, clubs and community organizations. It supports organizations from a few members to 15,000... Read more
Here's what we'll cover:
What Is Nonprofit Accounting Software?
Nonprofit organizations, associations, churches 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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
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.