The biggest drawback of using QuickBooks for Nonprofits is the price. If your nonprofit’s accounting needs are basic, the discounts available through TechSoup can offset much of the accounting services for nonprofit organizations cost. If, however, you need more than what’s available through TechSoup, you could easily spend much more for QuickBooks than for other nonprofit accounting software.

Key Features:

With this software, you can create donor profiles, communicate with donors and keep a record of the relationship, and personalize your engagement and retention strategies with targeted outreach tools. Quicken is a finance software built to simplify financial management. It has different plans for personal and business use, each with varying features and pricing. However, depending on your plan, you may only have access to using Quicken on your mobile device or the web. NetCash is an accounting software in Netgain’s product suite that enables businesses to gain real-time, precise, and comprehensive visibility into their cash position — directly in NetSuite. You’ll get a team of NetSuite and accounting experts to ensure you smoothly integrate NetCash into your cash management strategy and processes.

The best accounting software for charities and non-profits

• It offers a wide range of pre-built financial reports covering various financial aspects.
• Know exactly what money is coming in and going out by program or project.
• Gain complete command over your nonprofit organisation’s finances with our top-rated 4.5-star mobile accounting application.
• Do you want to manage your nonprofit better but don’t see the necessity of investing in software with complicated features?
• Enter specific expenses under their appropriate functional categories.
• While it doesn’t offer all the specialized features that some nonprofit-focused software does, you can always transition to QuickBooks Enterprise if you find you need more specific tools.

Always follow federal and state labor laws, including minimum wage requirements, overtime rules, and other https://holycitysinner.com/top-benefits-of-accounting-services-for-nonprofit-organizati/ compensation regulations. All overhead spending should be approved by a board member or authorized individual before being charged to the organization. Categorize contributions based on any restrictions specified by the donor.

Drawbacks of QuickBooks for Nonprofits

Nonprofits use a variety of specialized reports such as annual board member reports, donor reports, and grant reports. With QuickBooks, you can easily customize your reporting templates and run any report you need. Create presentation-worthy reports with your logo, an introduction, and notes. Find out who they are and how to properly manage their involvement so you can improve your programs and fundraising efforts.

Best for Expense Tracking and Management

It includes tools for online donations, events, and peer-to-peer fundraising, all without fees. Its basic financial reporting tools provide enough insights for smaller nonprofits to keep track of their financial health. With Wave, you can easily manage receipts, record transactions, and reconcile accounts. Quicken stands out as user-friendly accounting software ideal for volunteer-run organizations. Its intuitive interface makes basic accounting tasks accessible, even for those without bookkeeping experience.