Create Your Professional Invoice for NPOs with Ease

Professional invoice for NPOs

I have a story to tell you about the best accounting software for nonprofits so here's a review I want you to pay attention to number 10 we have uh Sage intact our score 8 over 10 so when you think about Sage Inta I want you to think about a tool that's great for managing large Global nonprofit financials okay Sage intch does not offer its prices publicly so this is a bummer but here listen it does offer a 30-day free trial so you can actually check the you can check it out and see if you like it and it's accounting Fe features and functionality are really really comprehensive you have things like accounts payable and receivable you have cash flow management collaboration tools contract and subscription billing you have payroll management project costing and billing project accounting financial reporting and a lot of things so when you think about Sage intch think about a very comprehensive uh sort of accounting tool for your nonprofit and so in our view Sage intet is great for Global nonprofits that must work across currencies and tax Cordes to manage their financials and uh here are the pros and cons pros you have 30-day free trial you have a full featured accounting software you have multiple entity consolidation and multicurrency functionality what about the conses it's very pricey it's not suitable for a small nonprofits and you have a steep learning curve so here is uh the pricing for sage intact as of the date of this show by the way boss welcome back to the show it's really a it's really a pleasure to have you here in to this's combo and we are quickly talking about the best ACC software for nonprofits number nine we have netw our score 8.3 over 10 so netw is kind of cool it's another it's another great Erp that we love a lot and you need to have uh like a large nonprofits if you let's say you are trying to manage multiple uh capabilities through uh for for your nonprofit you will love next week so here are the pros and cons pros you have full featured accounting and Reporting plans for nonprofits you have global tax management for 110 countries for nonprofits you have a tailor tailored Suite of cloud-based modules for nonprofit operations management and do you have a highly customizable interface what about the cons well there is no offer pricing you have a very complex solution and you do have a one-time implementation fee so in terms of pricing you have to contact sales okay there's no transparency around around the pricing [Music] number eight we have here Quicken our score 8.5 over 10 so this is great for volunteer run nonprofit so if you want to save money and you are like the the nonprofit is run by volunteers you want to go with Quicken and we love the fact that Quicken actually has uh a lot of planes that range from 44.99 to $99 so this is kind of a this is kind of decent and for nonprofits in our view it's quick and most relevant plan is the $599 quick and home and business plan and it's normally $9.99 and the plan offers you the ability to create multiple budgets for different projects track projected cash flow pay bills generate check payments capture receipts track taxable expenses and generate business and tax reports this is kind of cool here are the pros and cons of this tool the pros you have a 30-day money back guarantee you have a very affordable uh very affordable tool you have tax reports you have projected cash flow reports and you have expense and fund specific management tools so this is kind of cool what about the cons here there are no free ples whatsoever and uh you have limited features compared to competitors so this is something that you really need to think about you must Quicken on a computer then use a companion web service and quick and home and business plan is only available for Windows computers and here is a pricing for Quicken as of the DAT of this show number 7even we have Wave Accounting our score 8.7 over 10 so in our view if you were looking for let's say if you are a nonprofit and you looking for a free basic accounting tools you will love uh wave because they're this is totally free and you have form 990 filing guidance through uh filing guidance tools through a third party app okay you also have restricted fund management tools through a third part party app and so what we love about Wave Accounting is that it's totally free you have a free forever play this is really good you have a free customizable uh invoicing uh procedure you have free payment acceptance and reminders and you have free income and expense tracking so this is really good if you are nonprofit let's say you are a small nonprofit and you are short on resources and you really want to take care of your accounting with accounting is a great uh tool where you you can start and uh here is a pricing for Wave Accounting the first screenshot and the second [Music] screenshot number six we have realm our score 8.8 over 10 so what we love about realm is that is very specific to a churches so if you are let's say if you are congregation and you are just you you are looking for accounting software you might want to think about realm because uh you do have uh restricted fund management tools they are embedded into realm we love that a lot even though uh the the software does not provide form n 990 filing guidance and so overall what we love about R is that they do have three ples that are very transparent okay they don't list their plans they don't list their prices they just list the plan the the ples but what we love is that it's really clear what you get through each plan so at least before you call you know at least you you have an idea right you have an idea of what things will cost you so here are the pros and cons pros you have Superior 24/7 customer support in a variety of formats you have you can actually have access to donor profiles you have pledge and donation management tools they're really embedded into the into this uh software and it's very easy to use what about the cons here you have fewer features than some competitors and this is a bummer though it's not appropriate for all nonprofits and the price is not available publicly so yeah so here is a price in for for realm again there's no pricing but you just have to contact sales number five we have int QuickBooks our score 9 over 10 so this tool int QuickBooks is great for nonprofit cash flow management so if you really pay attention to cash flow management you will love this in quicko uh account I'm not even talking about the fact that this quick was thing is the best known name in accounting software overall and but yeah listen if you want this sort of a reputation you want this sort of solidity in terms of analysis you might want to go with the int QuickBook and uh so here are the pros and cons uh of this software tool Pros you have a discounted nonprofit version you have a 30-day free trial you have cash flow forecasting you have a CRM to manage donor retention and you have nonprofit specific tools what about the cons you must pay extra for payroll services and you have limited users and in each plane there's no workflow Automation in lower tiered planes and the nonprofit useful features are primarily in most expensive planes and so here is a pricing for in quick Bo as of the DAT of this [Music] show number four we have Zoho books our was score 9.1 over 10 so Soo books is great for automation so if you're looking for let's say you're looking for accounting software for nonprofits they really place a big deal a big sort of big emphasis on automation you want to go automatically for Zoho books and you do have uh guidance for uh you do have tools for rest restricted fund management this is kind of cool and what we love about Zoho books is that you are able to manage invoices receive online and offline payments you can track expenses and mileage you can import bank and credit card statements you can generate accounting reports you can you you have a chart of accounts and you can manage also 1099 contract just for your nonprofits okay this is really cool and here are the pros and cons pros you have 15% discount for registered nonprofits it's extremely easy to use you have a free plan available you have workflow automation tools and you have donation and restricted fund management tools what about the cons here you have two $250 per month fee to add a new user there are no automation rules in free and first year plans no chat or phone support and free plan and no 980 filing tools here is a pricing for Zoho books as of the date of this show by the way boss I want to quickly remind you of today's topic we're having a conversation about the best accounting software for nonprofits okay and number three here you have uh zero.com or zero just zero for short our score 9.3 over 10 so when you think about zero I want you to think about the a tool that's great for in depth and customizable reporting for your nonprofits so zero equates to granularity in analysis okay and with the cool thing is that zero helps you do a lot of things when it comes to accounting you're talking about realtime reporting report customization yeah drag and drop interface you have data inputting in terms of uh if then statements if you want to really push the uh hypothetical analysis real far you can share reports you can uh set specific key performance indicator and you can track categories or business area so this is kind of cool and by tracking categories you know if funds are being allocated to the right projects based on donor intent okay so here are the pros and cons pros you have 30-day free trial unlimited uses and clients Advanced reporting file storage and and sharing invoices professional quote creation tools sales tax culations and 247 online and live chat support what about the conses you have extra $40 fee for payroll Tools limited limited build tracking and first TI plan no analytics in lower tier plans no nonprofit specific features no 990 filing guidance and you have limited quotes and invoices in the first tier PL so this is kind of important to really think about here is a pricing as of the data does show [Music] number two we have here fresh books our score 9.6 over 10 so if you thinking about the best accounting software for nonprofits freshbooks is a great I would say allaround General accounting software tool that your nonprofit might want might want to consider and you have a guidance and Tools around restricted fund management that's what we love a lot even though there's no 990 filing guidance we also you know we love fresh books anyway so fresh books overall you you you are able to track expenses and restricted funding okay so you are able to know how long it takes let's say uh an employee to complete a project task and once you know the employee times uh like the time the employee spends on a project you can allocate project funds to those employees and you can also connect Bank account in freshbooks will generate spending reports here are the pros and cons of this tool Pros you have a 30-day free trial you have affordable pricing restricted funds management tools and you have extensive expense tracking tools what about the cons here well you don't have a nonprofit specific Hardware tool here extra cost for you to add new team member and it's not really suitable for large nonprofits here is a pricing for fresh books as of the DAT of the let show number one when it comes to the best accounting software for nonprofits we have appos our score 9.8 over 10 so when you think about think about an appas I want you to think about um a tool that's great overall in our view for donor management okay you do have a form 990 fing guidance tools yes you have a you know guidance for restricted fund management tools yes so you have all all the important elements that a nonprofit cares about okay so appas offers a f accounting donation tracking offline gift forms financial and giv reports and even even an event registration in its core plan and uh so this is kind of cool you also have uh budgeting accounts payable accounts receivable recurring transactions and pledge tracking so here are the pros and cons when it comes to appos Pros you have CRM software you have donation track cheing and giving statements you have fundraising tools you have a you have secure donor portal you have donor management tools what about the cons here there is no project or a campaign specific budgeting and Reporting in lower tier plan no income and expense allocation and lower tier plan and you do have pricing plans in general in terms of pricing as you can see on the screen you have to request the demo for for to to actually kick off the whole process okay so Apple's really stands out for its customer relationship management trm component and with this software you can create donor profiles communicate with donors and keep a record of the relationship and personalize your engagement and reten strategies with uh targeted Outreach tools and donor management tools help you actually reach the kind of audience you want to really reach you can also use the tool to track donations and fundraise for example here are the pros and cons I want you to pay attention to the pros so you have CRM software you have donation tracking and giving statements you have fundraising tools you have secure donor portal and you have donor management tools so again the bottom line here is that your donors are really the kings and queen Queens of uh of your nonprofit and apples gives you the tool to actually talk to them in a better way and here is a pricing for appos as is the DAT of this show and obviously you have to contact uh sales and have an so to have an idea so when you talk about the best accounting software for nonprofits in general you want to pay attention to a few things okay because it's not just a a one siiz fits all sort of strategy you got to be careful about what you what you wish for and what you're asking so it's really important to choose the right the right tool for your [Music] nonprofits and when we talk about the the the overview you have to use the right methodology so think about things like uh cost and fees what about ease of use what about customer support what about features and functionalities okay so those are important elements so when we talk about features and functionality please make sure you don't choose something that's very complicated because otherwise if your team cannot use it use the tool then it becomes problematic so you want to pay attention to this and make sure that you're looking at all the the depth and breadth of uh the depth and breadth of uh knowledge embedded in the accounting software and when we talk about nonprofits in general people always ask the question whether or not cookbooks is great for for nonprofits yes I mean quick is great for a lot of things they do a lot of things so it's not just for nonprofits but it's just so that it's really important for you to have a clear idea what you really want right cuz otherwise you're not going to uh be able to to advance your accounting your nonprofit accounting processes and work streams and you also want to pay attention to the people who are going to use your accounting software so make sure that those people are also compatible with quote unquote compatible with your accounting software and they are willing to do to do the job okay and uh so nonprofits prepare financial statements in pretty much the same way as financial reporting I mean for financial companies okay I mean there are differences but they're not really that major and it's really important to understand that you really want to if you are going to use accounting software for your nonprofits it's important to understand it is a very safe thing to do okay nothing is complicated here and if you want to choose accounting software for your nonprofit just consider the price the features and the functionalities like you know the ability to scale because your accounting software for nonprofits maybe small now for your small business your small nonprofits but who knows 3 months from now 6 months from now your nonprofit may have grown or one year from now for that matter so your accounting your nonprofit may have grown so its accounting needs will be different from from from here so it's always important to think about scalability when uh thinking about choosing an accounting software for your [Music] nonprofits thank you so much for your attention I really appreciate today's conversation I was just quickly talking to you about the best accounting software for nonprofits and before I show you the the top 10 I want to do a recap here please check out on the screen right now our accounting software evaluation approach for the best accounting software for nonprofits all right quick quick recap here appos number one 9.8 over 10 number two fresh books 9.6 over 10 number three we have zero 9.3 over 10 number four we have Zoho books our score 9.1 over 10 number five we have int quick was our will score 9 over 10 number seven number six rather we have realm .8 over 10 and number seven we have here Wave Accounting our score 8.7 over 10 thank you so much for your attention God bless you I'll see you next time but until then remember stay [Applause] [Music] marvelous a