With that in mind, we’ve answered some of the most common questions about QuickBooks so you can ensure you’re making the right decision for your nonprofit’s accounting needs. By following best practices and optimizing its use, you can unlock the full potential of QuickBooks for nonprofits. Additionally, integrating it with solutions like Sumac CRM and Sumac Donations can further enhance your organization’s efficiency, allowing you to focus more on your mission and make a greater impact. This not only helps in tracking revenue but also ensures compliance with donor restrictions and grant requirements.
- The platform lets you categorize revenue expenditures by fund or program, track budgets by fund or program, track tax deductions, and even forecast money-in and money-out up to 90 days in advance.
- The tool makes financial management less burdensome by allowing you to set up recurring transactions and automatic expense categorization.
- Virtual desktop connections are protected via TLS with a minimum of 128 bit encryption and authentication.
- And with 30 day free-trials available, it’s easy to try before you buy and see what plan works best for your charity.
Is QuickBooks Good for Churches?
While discounts can help with basic accounting costs, advanced features like payroll are often available only as add-ons with more expensive plans. For instance, donations processed through a fundraising platform get automatically recorded in QuickBooks. Working in sync with your CRM, it offers comprehensive insights into donor interactions and contributions to enhance donor management. With QuickBooks for Nonprofits, access financial data from various sources in one place, streamlining reporting and saving time. It offers a wide range of pre-built financial reports covering various financial aspects. At Complete Balance Accounting & Consulting, we specialize in nonprofit accounting, ensuring accurate financial records, compliance, and strategic financial guidance.
It offers accounting and bookkeeping features comparable to QuickBooks Online and Xero but for exactly no dollars. Wave is a solid free option for nonprofits with basic accounting needs, while Xero has an impressive feature set, with in-depth reports that can easily be shared with donors and volunteers. Appealingly, it’s also cheaper than QuickBooks, with plans starting at $20 per month.
With nonprofit accounting software, you can seamlessly organize financial statements and donor data. An online accounting solution like QuickBooks provides a user-friendly dashboard and reporting tools that give you real-time insights into your organization’s financial health. This valuable knowledge enables you to make data-driven decisions and optimize your fundraising and grant-seeking efforts.
Pricing: QuickBooks for Nonprofits
Intuit QuickBooks offers several plans, ranging from $35 to $235 per month ($17.50 to $117.50 per month for the first three months during the current promotion). Plan differences revolve around the number of users, customization options, inventory management, automations and expense tracking. You have to pay an extra fee for payroll services, starting at $45 per month.
Financial reports
Terms, conditions, pricing, features, service and support are subject to change without notice. QuickBooks Online is usually the best choice for most nonprofits in Canada because of its cloud-based access and collaboration options. It is best to check QuickBooks’ official website for current nonprofit pricing and offers.
- This pricing structure can potentially make QuickBooks pricier than some alternative accounting solutions such as Xero, Wave, or FreshBooks.
- The software offers custom report creation tailored to board members and grant funders.
- Choosing the right method affects how reports display income and expenses.
- QuickBooks for Nonprofits is a versatile accountancy and donation management tool that should be able to meet the needs of just about any nonprofit – but this is hardly surprising.
Best for Tailored Accounting Software
It’s the only way to ensure our results remain reflective of the present day. QuickBooks offers a discount on its QuickBooks Online software through TechSoup. This version of QuickBooks Online offers the accounting features and functionality nonprofits need, including the ability to manage nonprofit finances, file Form 990 and file taxes.
Maintain Data Security
NetSuite’s cloud-based Social Impact software includes fund accounting, inventory management, and even ecommerce support. All Xero plans offer reporting, payment acceptance, file storage, contact management, tax calculations and the ability to connect Xero to a bank account. Its $20 per month plan (50% off for the first three months during the current promotion) offers invoicing and quotes tools, bill tracking for five bills, bank and Xero syncing and 30-day cash flow snapshots. Its $47 and $80 plans ($2.10 and $3.90 per month, respectively, for the first three months during the current promotion) add bulk transaction reconciliation, higher bill pay limits, project tracking and analytics. Originally launched in 1992 quicken for nonprofits by Intuit, QuickBooks has grown into the leading online accounting software, with more than 6.5 million users worldwide. Designed with small and mid-sized operations in mind, it’s especially useful for nonprofits looking to track donations, manage donor data, and generate detailed financial reports.
By outsourcing your accounting to us, you can focus on what truly matters—advancing your mission and making an impact. However, if your nonprofit receives multiple grants, tracks restricted funds, or needs detailed financial reporting, outsourcing to an accountant can provide peace of mind and ensure compliance. Nonprofits can use QuickBooks to record donations, track expenses, manage program costs, and generate financial reports for board meetings and compliance requirements. Unfortunately, NetSuite’s site is pretty sparse, and it’s definitely on the pricier side of accounting software (third parties estimate it starts at around $499 a month). Still, since Oracle NetSuite focuses on ERP and CRM software, it’s a better fit for midsize to large nonprofits with a bigger budget for accounting.
Xero’s equivalent offering starts at just $20 per month (currently discounted to $2 for the first three months of a year-long plan). If you were interested in the Plus plan ($33 per month), for instance, you would only have to pay the cost of the previous plan (Lite plan, $19 per month). Advanced InventoryIncluded in the Platinum and Diamond subscriptions only. Shipping subject to terms and conditions set forth by UPS, FedEx, and USPS.
Flexible solutions by QuickBooks Online Advanced help you keep tabs on your cash flow. Know where your organization stands so you can better focus on your mission. Whether managing large grants or small donations, QuickBooks empowers nonprofits to manage their financial operations efficiently. This setup will also streamline tax filings by ensuring your nonprofit adheres to IRS regulations for tax-exempt organizations. The right choice depends on your nonprofit’s size, budget, and internal capacity.
We recommend that churches and other houses of worship use QuickBooks Online Plus or QuickBooks Advanced so they can get all the tools, tracking, and reporting features we offer. QuickBooks suits charities because it supports fund accounting and budgeting tools to track where money comes from and how it’s spent. It’s important that we choose the right QuickBooks version and customise it to fit our unique needs.
That means you can pull the exact numbers your board asks for without having to reformat everything manually and know that your numbers are up-to-date, and not just estimates or projections. The QuickBooks Advanced version, which includes features tailored for nonprofit organizations such as donor management, costs $200 per month. This plan is suited for large nonprofits or those needing robust financial management tools with more users and advanced features like automation and data synchronization.
You can also use the solution to track volunteer hours and contributions to various projects or events. The software also provides tools for monitoring attendance, performance, and training, ensuring that staff and volunteers are well-managed and engaged. QuickBooks allows for the creation of several budget scenarios, helping you forecast future financial outcomes based on different assumptions or potential changes in funding. This capability allows you to proactively adjust your strategies and make informed decisions.
For large-scale nonprofits with extensive accounting needs, the Enterprise plan offers the most advanced features. It is designed to help organizations with high volumes of transactions, reporting, and user management. This plan also includes a dedicated account team to help nonprofits scale. Since QuickBooks was also made for non-accountants, it’s easy for first-time nonprofit bookkeepers to get a handle on nonprofit finances. Plus, QuickBooks’s mobile accounting app is at least as user-friendly as its software—so if you plan to do a lot of on-the-go donor management or financial tracking, QuickBooks is one of your best options.