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Nonprofit Accounting Software


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Raiser's Edge NXT logo
 
Raiser’s Edge NXT is an integrated, cloud-based fundraising and relationship management solution for nonprofits. The solution provides nonprofit organizations the infrastructure needed to achieve sustainable growth. Raiser's Edge... Read More
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Raiser’s Edge NXT is an integrated, cloud-based fundraising and relationship management solution for nonprofits. The solution provides nonprofit organizations the infrastructure needed to achieve sustainable growth. Raiser's Edge... Read More
 
Sage Intacct logo
 
Sage 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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Sage 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.
 
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 is a system that offers accounting options for nonprofits with multiple funds. The product is suitable for small to midsize nonprofit organizations that need to manage accounting. The system is offered both as a web-based... Read More
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Denali FUND is a system that offers accounting options for nonprofits with multiple funds. The product is suitable for small to midsize nonprofit organizations that need to manage accounting. The system is offered both as a web-based... Read More
 
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.
 
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
 
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

Call us for a free FastStart Consultation: (844) 852-3639


 
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.
 
Stratus365 logo
 
Stratus365 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, business intelligence,... Read More
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Stratus365 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, business intelligence,... Read More
 
Wild Apricot logo
 
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
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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
 
The Raiser's Edge logo
 
The Raiser’s Edge maximizes your non-profit fundraising strategies by offering tools for monitoring and managing contributions, providing this data in comprehensive reports or simple dashboards.
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The Raiser’s Edge maximizes your non-profit fundraising strategies by offering tools for monitoring and managing contributions, providing this data in comprehensive reports or simple dashboards.
 
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

Call us for a free FastStart Consultation: (844) 852-3639


 
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.
 
BidPal logo
 
BidPal’s fundraising suite is a fundraising and event management solution for any size nonprofit. It supports activities including donor management, online fundraising, auction execution, event planning and mobile bidding. The event... Read More
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BidPal’s fundraising suite is a fundraising and event management solution for any size nonprofit. It supports activities including donor management, online fundraising, auction execution, event planning and mobile bidding. The event... Read More
 
FastFund Nonprofit Fund Accounting logo
 
FastFund Nonprofit Fund Accounting performs fund accounting operations for nonprofit organizations. The system’s modules include fund accounting, accounts payable and receivable, cost allocations, payroll and fundraising donor management. FastFund... Read More
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FastFund Nonprofit Fund Accounting performs fund accounting operations for nonprofit organizations. The system’s modules include fund accounting, accounts payable and receivable, cost allocations, payroll and fundraising donor management. FastFund... Read More
 
Sumac logo
 
Sumac is a software system designed for small to midsize non-profits that need technology to manage fundraising and donor management, contact management, event management, marketing outreach and membership management. The solution... Read More
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Sumac is a software system designed for small to midsize non-profits that need technology to manage fundraising and donor management, contact management, event management, marketing outreach and membership management. The solution... Read More
 
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. The 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. The platform... Read More

Call us for a free FastStart Consultation: (844) 852-3639


 
DonorNation logo
 
DonorNation by Fonteva is an integrated suite of applications that nonprofits and charitable organizations can use to manage tasks related to fundraising and donor management, including accounting, event planning, online fundraising... Read More
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DonorNation by Fonteva is an integrated suite of applications that nonprofits and charitable organizations can use to manage tasks related to fundraising and donor management, including accounting, event planning, online fundraising... Read More
 
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
 
Giveffect logo
 
Giveffect is a cloud-based solution for nonprofits. Primary features include fundraising, volunteer management, nonprofit management, marketing, donor management, constituent relationship management and reporting and analytics. The... Read More
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Giveffect is a cloud-based solution for nonprofits. Primary features include fundraising, volunteer management, nonprofit management, marketing, donor management, constituent relationship management and reporting and analytics. The... 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.
 
Flipcause logo
 
Flipcause is a cloud-based nonprofit software solution. Key features include donor management, charity/event planning, volunteer management, association and membership management and fundraising. Flipcause is designed to help nonprofits,... Read More
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Flipcause is a cloud-based nonprofit software solution. Key features include donor management, charity/event planning, volunteer management, association and membership management and fundraising. Flipcause is designed to help nonprofits,... Read More

Call us for a free FastStart Consultation: (844) 852-3639


 
Sustain logo
 
Sustain is a cloud-based fundraising software for small and midsize organization with features such as volunteer management, gifts and grant management, information management and reporting tools. Sustain’s donor management module... Read More
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Sustain is a cloud-based fundraising software for small and midsize organization with features such as volunteer management, gifts and grant management, information management and reporting tools. Sustain’s donor management module... 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
 
Arts People logo
 
Arts People is a cloud-based fundraising and donor management solution designed for nonprofit performing arts organizations. It offers a donor database, marketing management, ticketing and reporting within a suite. The Arts People... Read More
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Arts People is a cloud-based fundraising and donor management solution designed for nonprofit performing arts organizations. It offers a donor database, marketing management, ticketing and reporting within a suite. The Arts People... Read More
 
FundRaiser logo
 
FundRaiser Software is a fundraising and donor management solution that meets the requirements of small to midsize nonprofits. The software is suitable for a range of nonprofits including churches, public broadcast, healthcare, animal... Read More
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FundRaiser Software is a fundraising and donor management solution that meets the requirements of small to midsize nonprofits. The software is suitable for a range of nonprofits including churches, public broadcast, healthcare, animal... Read More
 
infoodle logo
 
infoodle is a cloud-based nonprofit management solution for small and midsize properties such as charities, churches and community associations. The solution provides features such as contact management, event management, financial... Read More
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infoodle is a cloud-based nonprofit management solution for small and midsize properties such as charities, churches and community associations. The solution provides features such as contact management, event management, financial... Read More

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Fundly logo
 
Launched in 2009, Fundly is an online fundraising platform used by nonprofits, charities, clubs and other organizations that seek to raise money for a cause. With this application, fundraisers can create custom, mobile-friendly donation... Read More
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Launched in 2009, Fundly is an online fundraising platform used by nonprofits, charities, clubs and other organizations that seek to raise money for a cause. With this application, fundraisers can create custom, mobile-friendly donation... Read More
 
Serenic Navigator logo
 
With features built on the Microsoft Dynamics NAV platform, Serenic Navigator is an accounting solution for nonprofit organizations. This system includes tools for financial tracking, recording, and reporting.
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With features built on the Microsoft Dynamics NAV platform, Serenic Navigator is an accounting solution for nonprofit organizations. This system includes tools for financial tracking, recording, and reporting.
 
ePhilanthrAppeal logo
 
ePhilanthrAppeal is a cloud-based nonprofit software that caters to health services, human services, animal services, senior services, memberships, associations, education and politics. Primary features include donation management,... Read More
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ePhilanthrAppeal is a cloud-based nonprofit software that caters to health services, human services, animal services, senior services, memberships, associations, education and politics. Primary features include donation management,... Read More
 
Acumatica logo
 
Acumatica Financial Management Suite is a web-based accounting and financial management system for non-profits. Within the suite, they also offer integrated donor management, grant management, and eCommerce.  Each application includes... Read More
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Acumatica Financial Management Suite is a web-based accounting and financial management system for non-profits. Within the suite, they also offer integrated donor management, grant management, and eCommerce.  Each application includes... Read More
 
Exceed logo
 
Telosa Software’s Exceed products support the most common nonprofit management tasks, including fundraising, donor and contact management, event planning, volunteer coordination, constituent communications and reporting. The Exceed... Read More
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Telosa Software’s Exceed products support the most common nonprofit management tasks, including fundraising, donor and contact management, event planning, volunteer coordination, constituent communications and reporting. The Exceed... Read More

Call us for a free FastStart Consultation: (844) 852-3639


 
Abila Fundraising 50 logo
 
The features provided by Abila Fundraising 50 (formerly Sage Fundraising 50) help nonprofits strengthen their outreach and better manage all activity. This system archives all communications, creating a full, searchable history.
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The features provided by Abila Fundraising 50 (formerly Sage Fundraising 50) help nonprofits strengthen their outreach and better manage all activity. This system archives all communications, creating a full, searchable history.
 
Abila Fundraising 50 (Sage) logo
 
The features provided by Abila Fundraising 50 (formerly Sage Fundraising 50) help nonprofits strengthen their outreach and better manage all activity. This system archives all communications, creating a full, searchable history.
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The features provided by Abila Fundraising 50 (formerly Sage Fundraising 50) help nonprofits strengthen their outreach and better manage all activity. This system archives all communications, creating a full, searchable history.
 
Bidcoz logo
 
Bidcoz is a cloud-based non-profit software solution for small to mid-sized organizations. Key features include functionality for hosting auctions, selling tickets, soliciting sponsorships and encouraging donations. Bidcoz allows... Read More
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Bidcoz is a cloud-based non-profit software solution for small to mid-sized organizations. Key features include functionality for hosting auctions, selling tickets, soliciting sponsorships and encouraging donations. Bidcoz allows... Read More
 
Agilon's ONE logo
 
Designed to equip nonprofits with cloud technology to manage their organization, Agilon’s ONE donor management and customer relationship management (CRM) system offers best-of-breed solutions for fundraising, donor management and... Read More
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Designed to equip nonprofits with cloud technology to manage their organization, Agilon’s ONE donor management and customer relationship management (CRM) system offers best-of-breed solutions for fundraising, donor management and... Read More
 
MOHID logo
 
MOHID’s suite of fundraising and donor management tools is developed specifically for mosques and other Islamic member-based organizations. Core applications include fundraising, accounting, membership, donation and events management. This... Read More
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MOHID’s suite of fundraising and donor management tools is developed specifically for mosques and other Islamic member-based organizations. Core applications include fundraising, accounting, membership, donation and events management. This... Read More

Call us for a free FastStart Consultation: (844) 852-3639


 
Optimy logo
 
Optimy is a cloud-based project management software solution specializing in sponsor and partner management for non-profit organizations. Key features include project management, budgeting, document management, project collaboration,... Read More
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Optimy is a cloud-based project management software solution specializing in sponsor and partner management for non-profit organizations. Key features include project management, budgeting, document management, project collaboration,... Read More
 
Personify360 logo
 
Personify360 is a complete Web-based association management system offering operational support for large associations. It features a number of integrations through third-party service and solution providers. Personify360’s customer... Read More
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Personify360 is a complete Web-based association management system offering operational support for large associations. It features a number of integrations through third-party service and solution providers. Personify360’s customer... Read More
 
OASIS logo
 
OASIS’ best-of-breed accounting software supports accounts payable and receivable, budgeting, general ledger and payroll. Offered as both Web-based and on-premise solutions, it’s best suited for small to midsize nonprofits.
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OASIS’ best-of-breed accounting software supports accounts payable and receivable, budgeting, general ledger and payroll. Offered as both Web-based and on-premise solutions, it’s best suited for small to midsize nonprofits.
 
Shelby Financials logo
 
Shelby Financials software is a best-of-breed fund accounting program for maintaining church budgets and financial records. This solution includes functionality to manage all accounting processes, including accounts payable (AP) and... Read More
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Shelby Financials software is a best-of-breed fund accounting program for maintaining church budgets and financial records. This solution includes functionality to manage all accounting processes, including accounts payable (AP) and... Read More
 
Dashboard logo
 
Dashboard is a cloud-based association management system offering a full range of capabilities that support association operations, including membership tracking, event planning, accounting, board and committee management and more. The... Read More
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Dashboard is a cloud-based association management system offering a full range of capabilities that support association operations, including membership tracking, event planning, accounting, board and committee management and more. The... Read More

Call us for a free FastStart Consultation: (844) 852-3639


 
Causeview logo
 
Causeview is a cloud-based nonprofit management system suitable for nonprofit organizations looking for donor management and payment processing. The system is built on the Salesforce platform, bringing fundraising, event and volunteer... Read More
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Causeview is a cloud-based nonprofit management system suitable for nonprofit organizations looking for donor management and payment processing. The system is built on the Salesforce platform, bringing fundraising, event and volunteer... Read More
 
Abila Elevate™ logo
 
Abila Elevate™ is cloud-based fundraising software for non-profit organizations. The system is a platform that assists in donor tracking and communication. It offers a customizable dashboard that gives an overview of the organization’s... Read More
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Abila Elevate™ is cloud-based fundraising software for non-profit organizations. The system is a platform that assists in donor tracking and communication. It offers a customizable dashboard that gives an overview of the organization’s... Read More
 
Abila netFORUM logo
 
Abila netFORUM is a web-based association management system from Abila (formerly Sage) and is used by associations, nonprofits, and government agencies. The system includes modules for managing events, member profiles, membership... Read More
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Abila netFORUM is a web-based association management system from Abila (formerly Sage) and is used by associations, nonprofits, and government agencies. The system includes modules for managing events, member profiles, membership... Read More
 
ClearGIVE Complete logo
 
ClearGIVE Complete is an end-to-end fundraising and constituent management solution, built to support activities in nonprofits of all sizes, faith-based groups, churches, foundations and charitable organizations. It includes functionality... Read More
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ClearGIVE Complete is an end-to-end fundraising and constituent management solution, built to support activities in nonprofits of all sizes, faith-based groups, churches, foundations and charitable organizations. It includes functionality... Read More
 
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MicroEdge GIFTS is a cloud-based grant management solution. It caters to community, education and faith-based foundations, corporations, financial services providers, government agencies and philanthropic advisors of all sizes. Primary... Read More

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CommitChange is a comprehensive fundraising and donor management platform for handling constituent management, event planning and ticketing, online fundraising, membership management, volunteer coordination and more. Its fundraising... Read More
 
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CommunitySuite is a cloud-based non-profit management solution designed for small and midsize companies. Key features include fund accounting, a donor portal, online donation management, scholarship management and event management. Accounting... Read More
 
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OneNFP Financials is a comprehensive Web-based accounting platform that can manage nonprofit financial processes for small and midsize organizations, including fundraising, reporting, grant management and daily administration.

 

Buyer's Guide

by Lisa Hedges,
Content Analyst
Last Updated: August 17, 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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