Content
The financial management suite offers tools such as a general ledger, accounts payable and receivable, cash management, currency management, fixed assets, and time and expense management. QuickBooks is trusted by small businesses everywhere to handle finances. Now, they expanded their software to handle fund accounting for nonprofit organizations. The Plus Plan is an affordable way to manage your finances and get the most out of your tax deductions. The Plus Plan allows you to track your income and expenses, invoice and accept payments, run comprehensive reports, and capture and organize receipts.
The Dashboard gives you an overview of your industry, products, customers, etc. You can also see how your company is doing compared to others in your field. You may also be interested in Zoho Payroll for processing nonprofit or for-profit organizations’ payrolls. Such tools format accounting reports for the Return of Organization Exempt from Income Tax or Form 990. Send payment receipts to your donors as a token of appreciation, and proof of having received their contributions. Zoho Books lets you collaborate with employees and volunteers at different locations online, by adding remote employees and co-workers as individual users. Investopedia requires writers to use primary sources to support their work.
The platform is built with user-friendly features and an easy-to-navigate interface that allows businesses to send mass payouts to their employees, whether they are working remotely or on-site. The software is also designed with robust security features to protect the financial data of non-profit organizations. Nonprofit organizations frequently receive funds from multiple donors and countries. Before you invest in the best accounting software, check if the platform allows you to accept donations in multiple currencies. While there are dozens of easy-to-implement accounting software options available on the market, they are often pricey. You may not want to invest in an expensive accounting solution, especially if you are just getting off the ground.
Cloud-based accounting means that your data is stored in the cloud, so you are not chained to your desktop. Cloud accounting makes it easier for additional authorized users to access the information. In addition, nonprofits have to adhere to rules and regulations that can change quickly. Cloud software can be updated regularly to keep up with the latest changes. An all-in-one nonprofit ERP solution, Sparkrock features finance/accounting, HR, payroll, donor management, case management, and employee scheduling modules.
You can also consolidate the financials of multiple global entities into one platform, then connect business management software such as Salesforce. You can consolidate across multiple currencies and local tax codes automatically and in minutes. With everything consolidated, you can track inter-entity transactions to improve reporting and donor-dollar traceability. In addition, as you build new global entities, you can seamlessly add them to the software. Using the QuickBooks Online Advanced plan, your nonprofit can keep a close eye on each project’s cash flow via the Cash Flow Dashboard.
There is no software to install, and there are free regular updates. Nonprofits must file their annual Form 990 in order to maintain their tax exempt https://www.bookstime.com/ status, which saves tons of money every year. A professional looking website is easy to set up and very affordable (less than $100, really!).
Zoho Books integrates well with several major online payment gateways, such as Stripe, PayPal, Authoize.Net, Payflow Pro, and Square. The vendor offers phone, chat, and email as customer support options. You don’t need to be an Excel wiz to understand your organization’s financials.
Send your donors printed or emailed receipts directly from AccountEdge. And while we’re committed to desktop software, we recognize there may be times you need to perform key accounting functions remotely. The smiling faces of the people and families you help on a daily basis are probably part of it. Dealing with bookkeeping for nonprofits all the paperwork in running the ‘business’ side, aka doing your accounting. If you’re in the market for a new donor database, check out our list of the top donor management solutions to find the perfect provider for you. Xero claims that they are the online accounting software alternative to QuickBooks.
