10 Fastfund Nonprofit Accounting Software

softwarebuck April 25, 2021 0 Comments



Best Nonprofit Accounting Software


The best nonprofit accounting software offers key features for managingnonprofits, such as event planning, detailed contact management, and donormanagement as well as strong accounting so that nonprofits can rest easyknowing their finances and budgets are taken care of.Here are our top 10 best accounting software options for nonprofits.

Looking For Free Nonprofit Accounting Software?


If you’re looking for free nonprofit accounting software, you’ll behardpressed to find a quality option that will meet all of your needs.However, if you have a tight budget, there are some free accounting softwareprograms that could address some smaller nonprofits’ accounting needs.(Although, you may still need another software for managing specific aspectsof your nonprofit.)Check out Wave or ZipBooks as options for free accounting software fornonprofits.

Choosing The Right Accounting Software For Your Nonprofit


With so many choices on the market, it can be hard to know how to choose thebest nonprofit accounting software for your organization. Here are a fewthings to consider: * What type of nonprofit do you run? * How big is your nonprofit? * What problems are you trying to solve? * What features do you need? * How big is your budget?Knowing which features you need and what problems you need these features tosolve can help point you in the right direction. Maybe you mostly needaccounting software but want a few nonprofit tools thrown in. If so, tryInfoodle + Xero or QuickBooks + Sumac. Perhaps you want something specific toyour industry, such as Breeze. Or maybe you’re ready for a full-fledged fundaccounting ERP, such as FundEZ or Nonprofit+.We know that choosing the best nonprofit best software can be difficult, butyou can’t go wrong with any of these great options. Whatever program you’releaning toward, we highly recommend scheduling a demo or testing the softwareyourself before making any final decisions.As always, we wish you the best of luck in your search for the perfectsoftware. Let us know which software you decide on in the comments below, even(and especially) if it’s one we didn’t mention, and feel free to reach outwith any questions you have along the way.Online Accounting SoftwareWith online, or Web-based accounting software, an organization’s financialdata is hosted by the vendor. In this software-as-a-service (SaaS) module,data is stored on secure servers with automatic back-up and redundancycapabilities. In recent years, these programs have become highly customizable:businesses only pay for the services that they consume. This flexibility,along with the lack of capital investment requirements, attracts small andmedium-sized businesses especially.Because of the hundreds of online accounting programs, it can be verydifficult to decide which one is best for your business. This buyer’s guide isdesigned to help you navigate the online business accounting software market.Here’s what we’ll cover:What Is Online Accounting Software? What Type of Buyer Are You? Benefits and Potential Issues Market Trends to Understand The Vendor Landscape

What Is Online Accounting Software?


Accounting solutions track the financial transactions within an organization.Typical features include:Specialty systems often have additional features dedicated to a particularmarket. These include fund accounting for nonprofits, commission calculationsfor sales-oriented businesses like real estate, rate analysis for banking orclaims scrubbing for medical practices.Online accounting systems are specifically designed to be used through theInternet, rather than being installed locally onto company computers. Thisreduces information technology requirements like server hardware, backups andmaintenance and shifts the expenditure from being a large up-front capitalcost to a much smaller, but ongoing, monthly or annual fee.AR invoice screenshot in AccuFundThere are two types of accounting software online: browser-based, SaaS andapplication service providers (ASPs). SaaS solutions are designed for the userto access the information through an Internet browser like Internet Explorer,Firefox, Chrome or Safari. This allows the information to be accessed fromanywhere, and it always looks exactly the same. An ASP is a client-serversystem, where the business installs a small software “client” onto theircomputers. In both models—SaaS and ASP—all of the data is hosted by the vendoron a remote server. Most ASPs are also “Web-enabled,” meaning that a Web-browser can be used if necessary, though it will come with a few disadvantagessince it is not designed for that purpose.

What Is Online Accounting Software?


Accounting solutions track the financial transactions within an organization.Typical features include:Specialty systems often have additional features dedicated to a particularmarket. These include fund accounting for nonprofits, commission calculationsfor sales-oriented businesses like real estate, rate analysis for banking orclaims scrubbing for medical practices.Online accounting systems are specifically designed to be used through theInternet, rather than being installed locally onto company computers. Thisreduces information technology requirements like server hardware, backups andmaintenance and shifts the expenditure from being a large up-front capitalcost to a much smaller, but ongoing, monthly or annual fee.AR invoice screenshot in AccuFundThere are two types of accounting software online: browser-based, SaaS andapplication service providers (ASPs). SaaS solutions are designed for the userto access the information through an Internet browser like Internet Explorer,Firefox, Chrome or Safari. This allows the information to be accessed fromanywhere, and it always looks exactly the same. An ASP is a client-serversystem, where the business installs a small software “client” onto theircomputers. In both models—SaaS and ASP—all of the data is hosted by the vendoron a remote server. Most ASPs are also “Web-enabled,” meaning that a Web-browser can be used if necessary, though it will come with a few disadvantagessince it is not designed for that purpose.

Get Help Choosing The Best Nonprofit Accounting Software


Knowing how much money is coming in, where it’s coming from, where it’s going– this may not seem like too daunting of a task, especially at first. When youstart trying to manage your donations, maintain your budget, your payroll, andinvoices, plus keep accurate records for both your donors and for taxpurposes, it’s easy to get overwhelmed and start making mistakes, especiallyif you’re relying on DIY spreadsheets or free fund accounting software toolsthat simply doesn’t offer what you need.That’s where a quality nonprofit accounting software solution can be a gamechanger, saving you time, reducing your stress, and most importantly,improving your accuracy and record keeping by having everything in one placeand not having to rely on multiple tools. To help you choose which software isright for your organization, we’re providing an in-depth look at some of theleading choices, including features and what type of organization may benefitthe most from each one.

Why Choose Accounting Software Specifically Built for Nonprofits?


This list will include fund accounting software specifically designed fornonprofit organizations or offer specific features necessary for NPOs. Inaddition to the standard features found in for-profit business accountingsoftware, like accounts payable and receivable, budgeting and forecasting,these options often feature tools specific to the needs of an NPO, such astools to accept and record donations, managing grants and trusts, andmaintaining compliance.

Tips for Choosing the Right Nonprofit Accounting Software


Before choosing your permanent accounting solution, it’s best to have clarityregarding exactly what it is that you’re looking for. Consider making a listof the following factors and compare your list with the overviews of youroption. * Scalable – As your organization grows, can your software keep up? * Size – Will you need a robust solution designed specifically for large organizations or, if you’re a small or local NPO, will a lighter option work best? * Cloud-based or desktop accounting– If you’re the only one doing the accounting and it’s only at the office, this may not be a factor, but cloud-based functionality allows any approved user to access it from anywhere. * Features – Think about what you absolutely have to have from your software and make sure any one you choose comes with that. * Price – How much can you comfortably afford to spend? Also, is it a one-time fee, monthly, or annual fee? Feel free to list anything you think of that you need to consider when makingyour decision. It’s important to note that many fund accounting softwareoptions offer tiered levels, like basic, standard, and premier, so whenlooking at features, see which package it’s in and how that affects price.

Best Nonprofit Accounting Software Solutions [2019]


The software solutions in this guide are listed alphabetically, and we tookcare to include software designed for all different types of nonprofitorganizations.

2. Accounting Suite by AccuFund


Accounting Suite by AccuFund offers a comprehensive accounting solution forboth nonprofits and government agencies. Providing both on-premise and cloud-based deployment options, you can use this anywhere, and it offers a widevariety of features along with robust reporting capabilities.Core features include: * General ledger * Accounts payable * Financial reporting * Bill payment and tracking * Managing cash receipts * Bank reconciliationOptional features include: * Accounts receiveable * Fixed assets tracking * Requisitions * Grants management * Position control * Loan tracking * Client invoicing * Allocation management * Payroll suite * Budget and forecasting * Client accountingBest for: Government agencies and nonprofits who need a flexible, yetcomprehensive solution.Free Trial: N/ARegister here to watch a free demo!

10. Fastfund Nonprofit Accounting Software


Fastfund Nonprofit Accounting Software is a cloud-based accounting solutionthat provides affordable, yet comprehensive bookkeeping and accountingsolutions for small and medium-sized nonprofit organizations. The ability toimport data saves time over traditional data entry and copy/pasting and thereis cross-platform integration for their fundraising and payroll services.Core features include: * General ledger * FASB compliant statements * Bank reconciliation * Cash receipts and disbursements * Asset management * Donor management * Budgeting and forecastingOptional features: * Accounts payable/receivable * Cost allocations * Fundraising management * Volunteer management * Donation processing * Campaign management * PayrollBest for: Small and medium-sized nonprofit organizations and churchesFree trial: Yes, contact for length of trialDemo: Connect to an online, 60-minute demo here

2. Breeze Church Management Software


For churches who use QuickBooks Online for their accounting needs includinginvoicing, general ledger functionality, and budgeting, Breeze is an excellentway to integrate nonprofit-specific features, including donation management,online giving, pledges, and reporting. Additionally, this is an all-in-onecloud-based platform that allows churches to operate children’s ministrycheck-in and maintain contacts, volunteers, and directories all in one placewhile still offering an affordable price with an easy-to-use interface.Core features include: * QuickBooks Online integration * Donation management * Pledges * Online giving * Contribution reporting * Year-end statements * Volunteer management * Event managementBest for: Small to medium-sized churches who already use QuickBooks Online fortheir general accounting needs.Free trial: N/AWatch an instant demo here!

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