Top 10 Nonprofit Accounting Software
Nonprofit organizations have a greater requirement for transparency, accountability, and compliance than corporations in the for-profit world. And nonprofits need to be productive and efficient due to limited resources. One of the most important tools to help non-profit agencies remain viable is their investment in an accounting software solution to meet their financial requirements.
Read More: Top 10 Fundraising Software for Nonprofit Organizations
From the most basic accounting programs to serious enterprise accounting systems, a not-for-profit organization will improve accuracy, productivity, and effectiveness by implementing a financial management solution.
Today, nonprofits must track expenses, cash flow, incoming funds and donations, payroll and a whole host of other transactions. They can hire an outside accounting firm or handle the process in-house. Due to cost restrictions, many handle their own financial management. And gone are the days of using a spreadsheet or manual ledger for their accounting needs.
Advantages of Nonprofit Accounting Software:
- Manage financial data with a fund-oriented approach
- Identify and report on usage of funds
- Improve reporting to potential donors and funding sources
- Cut costs with integrated data
- Manage cash flow with advanced budgeting features
To survive and thrive, nonprofits have embraced accounting software as the backbone of their organization. This site is dedicated to helping you understand nonprofit accounting software, how to utilize it, and how to find the right financial solution for your agency.
Types of Nonprofit Accounting Software
To start with, using a generalization, there are two types of accounting software solutions – generic accounting software and industry-specific software. There are versions for non-profits, churches, governments, restaurants, retail, construction, etc.
Government (Federal, State, Municipal) Accounting Software – Governments have different requirements and specifications for how they bring in and spend money than do corporations. They must deal with regulations and, sometimes, a completely different set of accounting rules. Accordingly, they have very specific software needs and companies have created systems just for them.
Basic Business Accounting Software – These packages include most of the standard accounting modules and features. There are a wide range of solutions and some are specifically for small to medium-sized businesses (SMBs) and others are massive (and expensive) but powerful accounting solutions for corporations in multiple countries and in multiple currencies. The basic software can be used by industry-specific organizations, as well, but they may have to be customized to fit their needs (or vice versa.)
General Ledger Software – This type of software is usually integrated into a complete software package, but occasionally you’ll see software just for the general ledger transactions. All the accounts and journals are entered and monitored here and the software can generate income statements, balance sheets and statements of cash flow.
Manufacturing Accounting Software – Some companies, including non-profit agencies, need accounting software specifically for manufacturing, light assembly, kitting, and other supply chain operations. These systems track warehouse and distribution data, inventory, assets, and job costing and job management information.
Inventory Control Software – For agencies that deal in inventory tracking – for example, a Goodwill store – this software can help control and monitor inventory levels allowing an organization to stay competitive. It can be a system system where amounts are entered by hand or it can be a complex program that manages data with bar code scanners and RFID tags.
Fixed Assets Software – These applications, usually also part of complete accounting systems, help you track depreciation of assets as well as maintain accurate asset inventory tracking.
Accounts Payable Software – This, as well as Accounts Receivable software, is normally a major component of accounting software. It helps agencies track what is owed as an outstanding balance, as well as how long any balances have been outstanding.
Accounts Receivable Software – This software monitors what is owed to your organization, and how long it has been owed/when is due.
ERP Accounting Software – An ERP (Enterprise Resource Planning) solution is very popular among medium to large organizations. It is u
Budgeting Software – This application is very important to nonprofits and government agencies. Forecasting and correct budgeting is very necessary when limited or highly-scrutinized funds are required. This type of software helps automate the planning, budgeting, forecasting, reporting and analysis process for an organization.
Fund Accounting Software – Tracking funds helps agencies understand how their money is being managed. You can track how funding is being spent across the organization and the programs or services you provide, providing feedback and transparency as well as results for stakeholders.
Tax Accounting Software – Some agencies may have a separate tax solution to help them submit tax information to city, state, and federal entities. The systems range from small personal tax applications, like TurboTax, to complex tax solutions for large organizations to handle reporting on donations, payroll, grants, etc.
The Top 10 Nonprofit Accounting Software:
Nonprofit Accounting Software To Empower Your Mission | Serenic. Accounting software for nonprofits, from experts in financial management technology. Visit the Serenic Software website today for more information.
ERP Accounting and ERP Solutions | Open Systems. Accounting Software for Nonprofits provides a robust set of NFP Accounting features in an intuitive, easy to use product. It gives you total integration to the TRAVERSE General Ledger, Accounts Payable, and Payroll applications, and has the fund accounting features frequently requested by non profit organizations.
Financial Management for Nonprofits Indianapolis | Financial Technologies. Manage your budget, cash flow, and financial projects more efficiently with easy-to-use nonprofit accounting software and financial management software. Financial Technologies & Management is located in Indianapolis, IN and we work with many organizations providing nonprofit management solutions. These solutions include evaluating and finding the best accounting software for nonprofits specific to your needs.
Nonprofit Accounting Software | Fund Accounting, Grant Management. Intacct Nonprofit Accounting Software helps nonprofit organizations comply with financial reporting, fund accounting and grant management.
Project Management Accounting ERP Software | Synergy.
Synergy’s Nonprofit Accounting Software Solutions
- Simple to set up for true fund accounting and other levels of detail
- Give stakeholders real-time financial and operational insight
- Effectively manage planning, budgeting, expenses, and financial reporting
- Easily manage grants, account for project costs, and produce necessary reports
- Give stakeholders real-time financial and operational insight
- Build financial management controls supported by comprehensive audit trails
- Integrate seamlessly with your CRM system tracking donors, membership, and constituents
- Eliminate manual processes and gain new efficiency
- At month end close, take up to five days off the old spreadsheet-oriented process
- Prove your nonprofit accounting software system works with your data before you purchase
Non Profit ERP Accounting Software System in the Cloud. The Non Profit ERP Accounting Software System powered by Acumatica ERP. Better manage fund accounting, budgeting, and grant management in the cloud.
Accounting Software | Payroll Software | CYMA.
hrough CYMA you will enjoy:
- Robust General Ledger with automatic fund balancing, grant tracking, and complete FASB117 reporting
- Sophisticated Payroll and employee self-service to handle the most demanding and unique payroll needs
- Powerful Accounts Payable and Purchase Order module help you manage and control expenses and enter invoices
- Extensive import and export features allow the flexibility to link the CYMA accounting system to fundraising and POS systems
- A system that is deployable as a server based system or as a hosted, internet based environment
- Training & Implementation at a fraction of other high end NFP accounting systems
BroadPoint is the premier provider of ERP, CRM and membership management solutions serving associations & nonprofits with industry-leading technology from Microsoft Dynamics, NetSuite and iMIS.
GMS, Inc. – Nonprofit Accounting & Financial Management Software\Revolving Loan Servicing Software │ Grants Management Systems. The GMS Accounting and Financial Management / Reporting System is not a traditional commercial accounting or government fund accounting package adapted for non-profit use. Our software is designed, from the ground up, to meet the highly specialized requirements of non-profit and public organizations accounting for contracts and grants or by program activity.
Nonprofit Accounting Software Experts. AVF Consulting is a leading national consultant for nonprofit accounting software, specializing in the implementation and support of Serenic Navigator.
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