The 9 Best Small Business Accounting Software For 2023

Large nonprofit organizations will be happy to hear the software offers grant accounting features. For instance, you’ll be able to track your grants by type, status, amount, and start/end dates with built-in fields and store grant-related information in one place. And, if you want to take a peek at how the organization is performing, you can pull 70+ reports that range from Balance Sheets to Income Statements. The Advanced Accounting plan unlocks the option to budget by the fund, track fixed assets, and complete your annual IRS Form 990. All these features make Aplos one of the best church accounting software and top software for nonprofits. Many nonprofit organizations rely on volunteers to help with their accounting.

If you’re interested in using payroll software, you can start a free 30-day trial when you sign up for Wave. NetSuite’s accounting software offers accounts receivable and payable, cash management, fixed asset management, https://www.bookstime.com/ a general ledger and tax management solutions. When we contacted a sales representative for a starting price, we were told there is no set starting price as each solution is uniquely catered to the NetSuite client.

Free QuickBooks for Nonprofits: ZipBooks

One of the main features of Tipalti Approve is that it organizes purchase request processes. Through the software, managers can easily create simple request forms that employees can fill out and submit. With these forms filled out, Tipalti Approve initiates the right workflows so purchase requests are properly routed. Once these requests are approved, purchase orders are automatically opened and data is automatically synced with integrated ERP systems. For instance, the solution enables businesses to automate approvals for more productive workflows.

Although Xero offers all the essential accounting features a business may need, the software also offers a host of advanced accounting features. Unfortunately, Xero’s price point may put it solidly out of reach for some small businesses. nonprofit bookkeeping services However, Xero is a great match for those growing businesses or startups whose accounting needs have outstripped their current system’s capabilities. If you’ve got the budget for it, Xero would make a great asset to your growing business.

Automatically keep trackof your stock levels

This cloud-based accounts receivable software supports multiple currencies so that receiving donations from overseas is not a problem. The platform combines the power of four interconnected modules in one — Invoice-to-Cash, Payment Plans, Subscription Billing, and Customer Portal — so accounting workflow becomes easy and seamless. The program likewise stores all information relevant to transactions, which further assists nonprofits in complying with standards. It provides transparency to all organization activities by giving them accurate and detailed data. This ensures total accountability, ensuring that stakeholders and donors remain engaged. The system’s powerful reporting tools enable it to generate reports that can be used in making data-based decisions.

• With more than 1,800 solutions scrutinized in the last 5 years spent on our team he always prioritized offering readers an unbiased perspective on modern financial technologies.
• Wave Accounting features a finance dashboard that displays cash flows, bills, net income, bank account statements, and other financial insights useful to a nonprofit treasurer.
• The software covers all of the accounting basics, including invoicing, expense tracking, accounts payable, bank reconciliation, and more.
• If you’re interested in using payroll software, you can start a free 30-day trial when you sign up for Wave.
• That’s where our review of the best accounting software for nonprofits comes in!