Finance

QuickBooks for Nonprofits: Costs, Pros and Cons, Alternatives

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QuickBooks for Nonprofits, a line of accounting software program for small to midsize nonprofit organizations, options nonprofit editions of QuickBooks merchandise with donation monitoring, bookkeeping, invoicing and different accounting capabilities. As well as, QuickBooks affords discounted merchandise for nonprofits by TechSoup for each nonprofit and different editions of the software program, an excellent deal for organizations with a decent price range. On this evaluate, the time period “QuickBooks for Nonprofits” will confer with nonprofit editions of QuickBooks Premier.

In comparison with different accounting software program for nonprofits, QuickBooks is straightforward, although it might initially take a while to study. Nonprofits can select to both use QuickBooks Premier Desktop (which is available in nonprofit editions) or QuickBooks On-line, relying on their wants. QuickBooks On-line makes it simple to provide the volunteers who assist with accounting capabilities entry solely to the QuickBooks options they want. And in the event you do want skilled assist together with your accounting, it’s simple to search out an accountant who’s aware of QuickBooks merchandise.

Deciding components

Notice: QuickBooks has adopted a subscription mannequin for Premier merchandise beginning with QuickBooks Premier 2022. Pricing for QuickBooks Premier 2022 shouldn’t be presently accessible by TechSoup. Pricing doesn’t embody any add-on options, comparable to payroll or functions.

QuickBooks On-line Plus (5 customers, 1-year subscription): $75 by TechSoup.

QuickBooks On-line Superior (25 customers, 1-year subscription): $160 by TechSoup.

QuickBooks Premier 2021 (desktop, 1 consumer): $78 by TechSoup.

QuickBooks Premier 2021 (desktop, 3 customers): $168 by TechSoup.

QuickBooks Enterprise Nonprofit (desktop, scales to as much as 30 customers): beginning at $130/month by QuickBooks.

Ease of sharing with accountants

Wonderful. QuickBooks On-line customers can invite their accountants to entry their QuickBooks data straight. QuickBooks Premier and Enterprise customers can ship an accountant’s copy or use a shared server to share information with their accountants.

Wonderful. Upgrades can be found for every QuickBooks product, both straight or within the type of add-on functions.

Good. QuickBooks merchandise require some coaching, however help is straightforward to search out.

How does QuickBooks for Nonprofits work?

As with different QuickBooks merchandise, QuickBooks for Nonprofits requires customers to enter transactions utilizing familiar-looking varieties (invoices, payments, checks, and so on.). The accounting occurs within the background. It makes it simpler for workers and volunteers who aren’t accountants to help your nonprofit with some bookkeeping.

Total, QuickBooks for Nonprofits actually shines on the subject of fund accounting and reporting. Despite the fact that the nonprofit editions work in a lot the identical approach as different QuickBooks merchandise, the back-end setup for nonprofits ensures your books are saved — and reporting is completed — in compliance with finest practices for nonprofit organizations. You may customise, save and automate the supply of the reviews your board of administrators and donors want. And maybe most significantly, it could allow you to arrange the knowledge you want every year to file your Type 990, the “return of organizations exempt from revenue tax” doc that gives public monetary details about the group.

QuickBooks reductions for nonprofits

QuickBooks partnered with nonprofit tech market TechSoup to supply discounted software program and subscriptions to nonprofit organizations.

Of the choices, the QuickBooks On-line Plus choices do not include a nonprofit version however can be utilized for nonprofit work:

  • QuickBooks On-line Plus (5 customers, 1-year subscription): $75 by TechSoup.

  • QuickBooks On-line Superior (25 customers, 1-year subscription): $160 by TechSoup.

The desktop variations do have nonprofit editions:

  • QuickBooks Premier 2021 (desktop, consists of nonprofit version, 1 consumer): $78 by TechSoup.

  • QuickBooks Premier 2021 (desktop, consists of nonprofit version, 3 customers): $168 by TechSoup.

  • QuickBooks Enterprise Nonprofit (desktop, scales to as much as 30 customers): beginning at $130 a month by QuickBooks.

It’s vital to notice that, beginning with QuickBooks Premier Desktop 2022, Intuit has adopted a subscription-based mannequin. A reduced subscription for QuickBooks Premier shouldn’t be but accessible by TechSoup. Suppose your nonprofit wants options past fundamental accounting — together with payroll, buyer help and information backups — and also you wish to use a desktop model of QuickBooks. In that case, your pricing shall be as follows:

QuickBooks Premier Plus (annual subscription; nonprofit model accessible)

QuickBooks Enterprise Nonprofit

QuickBooks Enterprise Nonprofit is a strong platform appropriate for bigger nonprofit organizations. Small to midsize nonprofits shall be finest served by QuickBooks Premier, QuickBooks Premier Plus or one of many QuickBooks On-line choices.

Advantages of QuickBooks for Nonprofits

Straightforward to search out help

{Most professional} accountants and bookkeepers — and plenty of enterprise house owners — are aware of QuickBooks merchandise. So whether or not you want an accountant’s assist or wish to enlist the help of your volunteer workforce for bookkeeping, you doubtless will be capable to discover individuals who can help you.

Scalability

It’s simple to start out with a smaller QuickBooks product (like QuickBooks Premier) and convert to a extra strong product (like QuickBooks Enterprise Nonprofit) as your nonprofit grows. This helps you higher price range your nonprofit’s expertise {dollars}. You may also customise your nonprofit’s accounting and fundraising capabilities utilizing the assorted add-on functions accessible.

Drawbacks of QuickBooks for Nonprofits

Value

The most important disadvantage of utilizing QuickBooks for Nonprofits is the worth. In case your nonprofit’s accounting wants are fundamental, the reductions accessible by TechSoup can offset a lot of the price. If, nonetheless, you want greater than what’s accessible by TechSoup, you would simply spend far more for QuickBooks than for different nonprofit accounting software program.

Alternate options to QuickBooks for Nonprofits

For small organizations: Aplos Accounting

Not like QuickBooks, Aplos was explicitly designed for nonprofits. Consequently, it’s particularly suited to church buildings and small nonprofit organizations.

  • Fund accounting performance.

  • The flexibility to simply accept donations on-line.

The worth for Aplos is ideal for nonprofits, too. Pricing ranges from $59 to $79 a month for many customers. Customization begins at $179 a month in the event you want superior accounting options.

For big organizations: Blackbaud Monetary Edge

Blackbaud is the gold normal for nonprofit accounting and administration. Its module-based system permits you to select the fitting options in your nonprofit group.

Monetary Edge by Blackbaud is a cloud-based fund accounting answer. Like all of Blackbaud’s merchandise, it was designed particularly for nonprofits.

Monetary Edge supplies all of the options you’ll count on from enterprise-level software program, plus some:

  • Absolutely compliant fund accounting.

  • Monetary planning and evaluation, together with budgeting and reporting compliant with the Monetary Accounting Requirements Board.

  • Grant accounting and administration.

  • When paired with Raiser’s Edge, Blackbaud’s donor administration answer, you’ve got totally functioning enterprise useful resource planning in your nonprofit.

As you would possibly count on of a software program firm with customizable merchandise, Blackbaud doesn’t publish its pricing. As an alternative, it supplies a customized demo and quote based mostly in your nonprofit’s wants.

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