Nonprofit organizations have a unique set of challenges when it comes to payroll and accounting. As a nonprofit, you have to manage your finances carefully to ensure that your resources are used effectively. That’s why it’s important to have the right payroll and accounting software to help you streamline your processes and stay on top of your financials. In this article, we’ll take a closer look at the best payroll and accounting software for nonprofit organizations.
QuickBooks
Overview
QuickBooks is a popular accounting software that is used by many nonprofits. It offers a range of features that can help you manage your finances more effectively, including payroll, invoicing, and expense tracking. QuickBooks also has a range of reports that can help you analyze your financials and make informed decisions about your organization.
Key Features
QuickBooks offers a range of features that can help you manage your finances more effectively. Some of the key features include:
- Payroll management
- Invoicing
- Expense tracking
- Financial reporting
- Budgeting and forecasting
Pricing
QuickBooks offers a range of pricing plans to suit different nonprofit organizations. Prices start from $25 per month for the basic plan, up to $150 per month for the advanced plan.
Xero
Overview
Xero is another popular accounting software that is used by many nonprofits. It offers a range of features that can help you manage your finances more effectively, including payroll, invoicing, and expense tracking. Xero also has a range of reports that can help you analyze your financials and make informed decisions about your organization.
Key Features
Xero offers a range of features that can help you manage your finances more effectively. Some of the key features include:
- Payroll management
- Invoicing
- Expense tracking
- Financial reporting
- Budgeting and forecasting
Pricing
Xero offers a range of pricing plans to suit different nonprofit organizations. Prices start from $9 per month for the basic plan, up to $62 per month for the premium plan.
Wave
Overview
Wave is a free accounting software that is used by many nonprofits. It offers a range of features that can help you manage your finances more effectively, including payroll, invoicing, and expense tracking. Wave also has a range of reports that can help you analyze your financials and make informed decisions about your organization.
Key Features
Wave offers a range of features that can help you manage your finances more effectively. Some of the key features include:
- Payroll management
- Invoicing
- Expense tracking
- Financial reporting
- Budgeting and forecasting
Pricing
Wave is a free accounting software, which makes it an excellent choice for nonprofits that are on a tight budget.
Zoho Books
Overview
Zoho Books is another popular accounting software that is used by many nonprofits. It offers a range of features that can help you manage your finances more effectively, including payroll, invoicing, and expense tracking. Zoho Books also has a range of reports that can help you analyze your financials and make informed decisions about your organization.
Key Features
Zoho Books offers a range of features that can help you manage your finances more effectively. Some of the key features include:
- Payroll management
- Invoicing
- Expense tracking
- Financial reporting
- Budgeting and forecasting
Pricing
Zoho Books offers a range of pricing plans to suit different nonprofit organizations. Prices start from $9 per month for the basic plan, up to $29 per month for the professional plan.
Sage Intacct
Overview
Sage Intacct is a cloud-based accounting software that is used by many nonprofits. It offers a range of features that can help you manage your finances more effectively, including payroll, invoicing, and expense tracking. Sage Intacct also has a range of reports that can help you analyze your financials and make informed decisions about your organization.
Key Features
Sage Intacct offers a range of features that can help you manage your finances more effectively. Some of the key features include:
- Payroll management
- Invoicing
- Expense tracking
- Financial reporting
- Budgeting and forecasting
Pricing
Sage Intacct offers a range of pricing plans to suit different nonprofit organizations. Prices are available on request.
NetSuite ERP
Overview
NetSuite ERP is a cloud-based accounting software that is used by many nonprofits. It offers a range of features that can help you manage your finances more effectively, including payroll, invoicing, and expense tracking. NetSuite ERP also has a range of reports that can help you analyze your financials and make informed decisions about your organization.
Key Features
NetSuite ERP offers a range of features that can help you manage your finances more effectively. Some of the key features include:
- Payroll management
- Invoicing
- Expense tracking
- Financial reporting
- Budgeting and forecasting
Pricing
NetSuite ERP offers a range of pricing plans to suit different nonprofit organizations. Prices are available on request.
FAQ
What is the best accounting software for nonprofits?
The best accounting software for nonprofits depends on your organization’s specific needs. Some popular options include QuickBooks, Xero, Wave, Zoho Books, Sage Intacct, and NetSuite ERP.
What features should I look for in nonprofit accounting software?
You should look for accounting software that offers features such as payroll management, invoicing, expense tracking, financial reporting, and budgeting and forecasting.
How much does nonprofit accounting software cost?
The cost of nonprofit accounting software varies depending on the software and the pricing plan. Prices can range from free to several hundred dollars per month.
Is Wave really free?
Yes, Wave is a free accounting software that is used by many nonprofits.
Is cloud-based accounting software secure?
Most cloud-based accounting software is secure and uses encryption to protect your data. However, it’s important to choose a reputable software provider and to take steps to protect your data, such as using strong passwords and two-factor authentication.
Can nonprofit accounting software integrate with other software?
Many nonprofit accounting software options offer integrations with other software, such as CRM software or fundraising software. Check with your software provider to see what integrations are available.
What should I consider when choosing nonprofit accounting software?
You should consider factors such as the features offered, the pricing, the ease of use, and the level of customer support when choosing nonprofit accounting software.
Can nonprofit accounting software handle multiple currencies?
Many nonprofit accounting software options can handle multiple currencies. Check with your software provider to see if this feature is available.
How do I know if nonprofit accounting software is right for my organization?
You should consider your organization’s specific needs and budget when deciding whether accounting software is right for you. It’s also important to consider the time and resources required to implement and maintain the software.
Pros
-Can streamline financial processes
-Can help you make informed decisions about your organization
-Can save time and reduce errors
-Can offer a range of features to suit your organization’s needs
Tips
-Consider your organization’s specific needs when choosing accounting software
-Choose a reputable software provider
-Take steps to protect your data
-Consider the level of customer support offered by the software provider
Summary
Nonprofit organizations need to manage their finances carefully to ensure that their resources are used effectively