More than any other type of organization, nonprofits need a way to stay on top of their books without breaking the bank. Fortunately, the right accounting software can crunch the numbers without bankrupting you in the process—as long as you choose a platform that works for you.
Each nonprofit accounting software tool has its advantages. Whether your deciding factor is price, interface, features or something else entirely, make sure to cover all your bases before settling on a certain platform.
While there is no “one size fits all” for accounting software tools, here are five that any nonprofit should consider taking a look at:
1. Maximize growth: Denali FUND
Developed by Cougar Mountain Software, Denali FUND is an accounting platform designed to help nonprofits manage multiple funding channels. The GAAP- and FASB-compliant tool comes in cloud-based and on-premise editions.
Denali’s interface might not have the up-to-date design of some of its peers, but it makes up for it with a host of valuable features.
Denali FUND features, functionality and pricing:
- Tamper-proof audit trail
- General ledger
- Bank reconciliation
- Controller module
- 8-24 hours of support and training
- Software assurance (for one year)
- Customizable dashboards
- Optional add-on modules, including accounts payable and payroll
- $999 per user, with a 30% discount available
Best for: nonprofits that might undergo serious expansion in the future. Denali’s ability to add features as you go makes growth painless.
2. Make it easy: Aplos
Aplos is a do-it-all nonprofit accounting software. Users can manage donations, launch events, raise money, pull reports and set up text-to-give systems. It offers newsletter and email personalization tools found in many marketing automation platforms.
Your nonprofit needs accounting software, but more importantly, it needs the right software
Fully cloud-based, Aplos’s bright and simple user interface makes it easy to use. With a recently added payroll feature, Aplos makes a convincing case for being a one-stop nonprofit accounting software platform.
Aplos features, functionality and pricing:
- FASB-compliant fund accounting
- Custom account chart
- Donation tracking
- Online donations
- Nonprofit financial statements
- Giving statements
- Budgeting and custom reporting
- $59 per month, with more features available at higher pricing tiers
Best for: nonprofits that need something simple, easy, workable, and affordable. Nonprofits with less than $50,000 in annual revenue or those founded within the last six months may qualify for discounts.
3. FundE-Z
FundE-Z is ranked among the best accounting software for nonprofits because of its segmentation capabilities. The comprehensive nonprofit accounting software makes it easy to be financially transparent with members yet restrict access to sensitive data, such as donor profiles.
FundE-Z features, functionality and pricing:
- General ledger
- Bank reconciliation
- Custom dashboards and filters
- Accounts payable
- Accounts receivable
- Purchase orders and encumbrances
- Client billing
- Direct and indirect allocations
- Batch processing
- Custom pricing based on module, training and implementation needs
Best for: nonprofits that have multiple funding streams or a complex financial situation. More features are available with FundE-Z Pro which, like FundE-Z, is price-negotiated with each client.
4. Modular approach: AccuFund Accounting Suite
Designed for local governments as well as nonprofits, the AccuFund Accounting Suite offers typical nonprofit accounting software features while also being highly customizable.
AccuFund’s accounting software can be optioned with features for payroll, requisitions, loan tracking, grant management, travel expenses, client invoicing and more. Coupled with its highly readable interface, the tool’s module options put it among the best accounting software for nonprofits.
AccuFund Accounting Suite features, functionality and pricing:
- General ledger
- Reporting
- Custom dashboards
- Bill tracking
- Receipt management
- Bank reconciliation
- Custom pricing according to module, implementation and support needs
Best for: nonprofits that work closely with governmental groups, tribal nations and special districts. Thanks to its modules, it’s a great nonprofit accounting software for groups with niche financial needs.
5. Bare bones model: Sage Intacct
Sage Intacct provides a core set of accounting modules for a reasonable price—its customers report an average of 250% ROI—with more features available as optional add-ons. By focusing on the core features, Sage Intacct has created a simple and powerful suite of tools that any nonprofit can start using immediately.
Sage Intacct features, functionality and pricing:
- Accounts payable and receivable
- Cash management
- General ledger
- Order management
- Purchasing management
- Multiple currencies supported
- Negotiated pricing according to group size and optional features
Best for: nonprofits that just need the bare bones and don’t want to pay for more than they need. Sage Intacct’s nonprofit accounting software is a mid-market leader in customer satisfaction.
Your nonprofit needs accounting software, but more importantly, it needs the right software. And while free accounting software for nonprofits may seem nice, the best options come at a price. Although this list features some of the most popular options, treat it as a jumping-off point. Once you know what you need, look for platforms that fit those requirements. Your financials will thank you later.
Photo: Getty Images
