Nonprofit companies have particular accounting needs, and without the correct tools, managing funds can be difficult. Thanks to a variety of free accounting software solutions, nonprofits can streamline their financial procedures and save time and money. This blog will cover some of the top paid accounting software solutions in the USA as well as the best free nonprofit accounting software, such as FreshBooks, Gusto, and AvidXchange.
Small businesses and freelancers use the cloud-based accounting program FreshBooks. It provides a number of capabilities, such as project management, time tracking, and invoicing. FreshBooks can be tailored to meet the particular requirements of nonprofit organizations even though it was not created with them in mind. The ability to log donations, provide tax receipts, and accept online payments are a few tools that NGOs will find very helpful.
Gusto is a software program for payroll and human resources that can also be used for accounting. It has functions including time monitoring, benefits administration, and employee onboarding. Gusto is a tool that nonprofits can use to track spending, handle payroll, and produce financial reports. Gusto also has software connectors with other program, like time-tracking and accounting program, which can make it simpler to handle all facets of nonprofit finances in a single location.
A cloud-based accounts payable tool called AvidXchange can assist NGOs in streamlining their payment procedures. It has features including electronic payments, automatic invoice processing, and approval workflows. AvidXchange is a tool that nonprofits can use to track costs, manage accounts payable, and produce financial reports. It may be simpler to handle nonprofit funds because AvidXchange connects with other program like accounting software and enterprise resource planning (ERP) systems.
Paid Accounting Software
There are some excellent commercial accounting software solutions available for NGOs in the USA, in addition to these three free accounting software options. The following are a some of the top paid accounting software choices:
Millions of companies and organizations utilize the well-known accounting program QuickBooks 2024 Online worldwide. A number of functions are available, such as invoicing, spending monitoring, and financial reporting. QuickBooks Online can be used by nonprofits to manage their accounts, keep track of donations, and provide tax receipts. Moreover, QuickBooks Online has interfaces with other program, including systems for accepting payments and managing donations.
The cloud-based accounting program Xero is comparable to QuickBooks Online. It has functions including expense tracking, invoicing, and bank reconciliation. Using Xero, nonprofits may keep track of donations, manage their money, and produce financial reports. Moreover, Xero provides interfaces with other program, including CRM program and tools for processing payments.
An ERP program called NetSuite provides a number of capabilities, such as accounting, financial planning, and supply chain management. Larger NGOs or those with complicated financial needs may find NetSuite to be very helpful, despite the fact that it is more expensive than some of the other accounting software solutions. All aspects of a nonprofit’s finances, including contributions, grants, and outlays, can be managed using NetSuite.
Finally, FreshBooks, Gusto, and AvidXchange are a few of the free accounting software solutions that are accessible to NGOs. These software alternatives can improve the effectiveness and efficiency of financial management for organizations. Paid accounting software choices like QuickBooks Online, Xero, and NetSuite may be better appropriate for larger NGOs or those with more complex financial requirements. Whichever accounting software choice NGOs select, it’s critical to pick a solution that fits their specific requirements and financial constraints.