![]() Each criterion has an assigned weight and subcriteria to further break down the software’s capability to handle the specific accounting and nonprofit features that we like to see.QuickBooks is a ubiquitous tool among small to mid-sized businesses, but did you know that it’s also a great accounting software option for nonprofits? In evaluating the nonprofit accounting software on this list, we developed five criteria to determine the applicability of the accounting software to nonprofit accounting. How We Evaluated Nonprofit Accounting Software On the downside, it lacks transparent pricing, is complex, and requires a lot of training and support to get up to speed on the basic functionality. The program is also ideal for organizations that require consolidated reporting, thanks to its consolidation management module, which allows users to merge financial statements across multiple organizations. With it, you can specify how your financial data looks on reports and break your accounting structure down to a very detailed level if required. If you’re currently relying on major foundation or government grants for funding, Blackbaud Financial Edge NXT is comprehensive enough to track both simple and complex grant requirements. Outstanding inventory features: If your nonprofit sells goods, QuickBooks Online can help you keep track of inventory levels efficiently and calculate your cost of goods sold (COGS), so there’s no need to get another third-party app just for inventory tracking.See our article on customizing QuickBooks Online for nonprofits. You can also add customized tags to transactions for further tracking. Location and class tracking: Your nonprofit can use location and class tracking to segregate activity by fund and by program service.Read our guide on how to find a QuickBooks ProAdvisor. They can even log directly into your account to review what you’ve done and make corrections. ProAdvisors: It is very easy to find a local bookkeeper that can help you with your QuickBooks Online account.Given that nonprofits follow different accounting standards than for-profit organizations, you’ll need someone who understands and practices nonprofit accounting. Assisted bookkeeping option: Through QuickBooks Live, you can access an expert QuickBooks bookkeeper to help you organize your books, classify transactions, and analyze your financial statements. ![]() This can be beneficial for non-profits that don’t have a dedicated finance team.Ĭustomizing QuickBooks Online as a Nonprofit in Advanced Settings Nonprofits without a dedicated finance team: QuickBooks Online is user-friendly and doesn’t require extensive accounting knowledge to use. ![]() ![]()
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