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Nonprofit organizations are driven by a passion to make a difference.
However, managing donations, grants, and expenses while ensuring strict financial compliance can be overwhelming.
Nonprofitaccountingsoftware solutions offer tools to track every penny responsibly and improve donor relations.
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Organizations can become their own accountants and save donation money on additional staff.
Wave works online on popular web browsers.
This nonprofit accounting software offers free invoice, accounting, and banking services.
Wave was launched in 2010 and now has 250+ employees.
In June 2024, it reached $3,000,000,000 in invoice-generated payments.
It supports nonprofits, municipalities, tribes, educational, and other organizations.
It allows organizations to manage finances and revenue sources with built-in compliance and robust reporting tools.
Bill Locklear and Hans E. Rusty Turley Jr. invented MIP Fund Accounting software in 1982.
It serves over 100,000 clients in 30 countries.
QuickBooks Enterprise plan lets users securely manage thousands of donors, vendors, and items.
The features of this software are explained in ourQuickBooks Online Review.
Thus, these organizations fully comply with regulations and remain transparent to their donors.
It allows nonprofits to get an overview of their business and track its financial health.
Xero is a good choice for nonprofits looking for a straightforward app for recurring pay runs.
Besides employee pay records,Xerosecurely stores employee data and personal details.
It also creates and manages invoices, including unpaid and overdue invoices.
Xero was launched in 2006 in New Zealand.
Read more about Xero in ourXero Accounting Review.
It helps users create a budget or forecast expenditure based on charitable activities and categories.
MoneyMinder was established in 2003 in Washington, US.
Zoho was established in 1996.
Over 40,000 charitable foundations use this tool to keep their tax-exempt status undamaged.
Aplos is also renowned for nonprofit bookkeeping services.
Users can request on-demand services to process challenging accounts or tax returns.
Its bookkeeping team offers accurate records, better financial statements, and simplified solutions.
Aplos was founded in 2009.
Organizations can even train their volunteers to use the tool to save money on additional staff hiring.
Accounting Seed offers a full grip and oversight over thefinancial managementlifecycle of a charitable agency.
It enables one to view financial statements, donation reports, and tax filing in real-time.
Thus, organizations can quickly deal with donors and granting authorities to secure more donations for their charitable cause.
Accounting Seed was launched in 2011 and currently serves over 1,000 customers and more than 50,000 users worldwide.
It helps them cut costs while complying with stringent charitable foundation policies.
It also makes online finance management easy with accounting, expense tracking, and other features.
The self-hosted, on-premise version of this open-source software is available for free.
Akaunting was launched in 2017.
Over 200,000 users use this tool in 100+ countries.
Akaunting Pricing
Akaunting has 7 subscription plans, as listed below.
Cougar Mountain software was launched in 1982 and serves nonprofits and small and mid-sized businesses.
What Is Nonprofit Accounting Software?
Any tool that helps manageaccountingtasks for a nonprofit organization is known asaccountingsoftware for nonprofits.
However, there is a fine line betweenaccountingfor for-profit and nonprofit organizations.
Businessaccountingmainly tracks profit and loss.
It follows how much the for-profit organization spends, earns, saves, or loses.
On the contrary, nonprofitaccountingis all about fundaccounting.
Why Does a Nonprofit Organization Need an Accounting Software?
A nonprofit organization requires the rightaccountingtool to keep its nonprofit, tax-exempt, and tax claim back statuses active.
To keep these statuses intact, all nonprofit organizations must process someaccountingtasks.
These tools also help file proper tax returns, keeping the organizations nonprofit status intact.
Use any of the aboveaccountingtools for nonprofit organizations and comply with local and international laws for nonprofit entities.
