From the April 2020 reviews of nonprofit accounting systems.
We generally think that software designed specifically for nonprofits is usually a better solution for nonprofit organizations, even if you’re just beginning a venture into the nonprofit realm. While some nonprofit software applications are priced out of a smaller nonprofit’s budget, others are priced comparable to the more generalized small business solutions from QuickBooks Online and Xero, and offer the features that nonprofit organizations need such as fund accounting, donor management, and grant management.
One major advantage to QuickBooks Online and Xero is that they are so widely used, that finding users with experience in those systems is very easy. However, while they both do an admirable job of managing standard financial transactions and organizational management functions, neither offers true fund accounting, which is what most nonprofit organizations, both large and small, really need. However, either product is a better option than not utilizing accounting software at all.
Read our overview of the nonprofit management functions in QuickBooks and Xero.
And be sure to check out review section on accounting systems designed specifically for nonprofits.
Thanks for reading CPA Practice Advisor!
Subscribe Already registered? Log In
Need more information? Read the FAQs
Tags: Accounting
