Invoicing: Helps customers pay your organization for goods and services you’ve rendered them.

Includes fund class designations, hierarchical fund management, and encumbrance management.

Fund Accounting: A self-balancing set of accounting tools allowing the reservation of cash and non-cash assets for specific purposes or activities.

Here’s a breakdown of the ways these functions meet the needs of an NPO: Rather than depending on a general-purpose business accounting solution with basic accounts receivable (AR) and payable (AP) functionality, organizations prefer using nonprofit accounting software for industry-specific functions, primarily fund accounting and the real-time collection of donations. Nonprofit accounting software options allow nonprofits to accurately manage the complex financial needs for organizations of any size. What Are The Features Of Nonprofit Accounting Software? View a chart of fundraising accounts in Aplos to ease financial reporting. Note: Operating a faith-based organization? A specific church accounting software may be more appropriate for your needs. This includes the financial management of online donations from crowdfunding or foreign sources, which must be reported along with an NPO’s main funding. Nonprofit accounting features enable NPOs to fully manage their sources of funding, ensuring every dollar and donor is accounted for while their accounts are accurate through proper bank reconciliation. Without meticulous recordkeeping, NPOs can be subject to audits, fines or other legal consequences.

NPOs are responsible for keeping detailed records of their donations, funding sources, and earnings. A customizable solution can automatically account for and allocate funds received from grants and donations, freeing up your organization to focus on actual outreach rather than behind-the-scenes administrative tasks. This can sometimes be marketed on it’s own as fund accounting software.įor NPOs, most operating expenses are entirely made up from funds, grants, and donations. As opposed to a general-purpose accounting solution, nonprofit accounting software helps nonprofit organizations (NPOs) manage fund sources and further their organization’s mission by properly using available funds. Nonprofit accounting software is a type of nonprofit software that handles the specific financial transaction needs found within the nonprofit industry. Is QuickBooks a Nonprofit Accounting Software?.What Are The Benefits of Nonprofit Accounting Software?.What Are The Features Of Nonprofit Accounting Software?.

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