Best Fund Accounting Software
- By Jordan Salas
- May 8, 2023
Our top picks
We recommend the best products based on our review process, and advertisers do not influence our picks. Our site contains links from our partners who compensate us (at no cost to you). Read our editorial guidelines and advertising disclosure.
When choosing top fund accounting software, it’s important to consider your organization’s specific needs.
To help you choose the best fund accounting software for your organization, we’ve compiled a list of the 7 best options on the market.
All of these software packages offer a free trial period, so you can try them out before committing to a purchase.
The 7 Best Fund Accounting Software
QuickBooks Nonprofit
1
QuickBooks Nonprofit is fund accounting software designed specifically for nonprofit organizations.
It offers a free trial so you can try it before you buy it, and it has all the features you need to manage your finances in one place.
You can track donations, expenses, and revenue, and generate reports to show your donors how their money is being used with the fund accounting system.
QuickBooks Nonprofit also offers discounts for nonprofits, so you can save money on your bookkeeping costs.
Whether you’re just getting started or you’ve been using QuickBooks for years, QuickBooks Nonprofit is the perfect solution for your fund accounting needs.
Pros and Cons of QuickBooks Nonprofit
The software also includes features that allow users to track pledges and grant money.
However, there are some drawbacks to using QuickBooks Nonprofit accounting software.
First, the software is only designed for accounting purposes, so it does not include features that would be useful for other aspects of running a nonprofit organization.
Second, the software can be expensive, which may be a concern for smaller nonprofits.
Overall, QuickBooks Nonprofit accounting software is a good option for nonprofits that need to track their finances, but it is important to weigh the pros and cons before making a decision.
Ascendify
2
Ascendify is fund accounting software that is designed specifically for nonprofit organizations.
It offers a free trial so that potential users can test out the features before deciding whether to purchase the full version.
The software is easy to use and very user-friendly, with a wide range of features that make it ideal for nonprofits.
For example, it includes a built-in donor management system, which makes it easy to keep track of donations and donors. It also has a fundraising module, which allows nonprofits to manage their fundraising campaigns and track donations.
In addition, Ascendify includes accounting features such as invoicing and payments, which makes it easy to manage finances.
Overall, Ascendify is an excellent choice for nonprofits looking for fund accounting software.
Pros and Cons of Ascendify
On the plus side, Ascendify is very user-friendly and easy to use.
Even if you’re not an accounting expert, you should be able to figure out how to use the program with ease.
Additionally, Ascendify offers a lot of features that can be helpful for small businesses, including invoicing and tracking expenses.
On the downside, however, Ascendify can be a bit glitchy at times.
Additionally, it’s not as well-known as some of the other accounting software programs out there, so you may not be able to get as much support if you run into problems.
Overall, though, Ascendify is a decent accounting program that could be a good option for small businesses.
Blackbaud Financial Edge NXT
3
Blackbaud Financial Edge NXT is fund accounting software designed specifically for nonprofit organizations.
It offers a free trial so you can try it before you commit to purchase, and it includes all the features you need to manage your finances and stay compliant with regulations.
Some of the key features include fund accounting, grant management, and donor management.
With fund accounting, you can track your income and expenses by fund, program, or project.
This allows you to see where your money is going and how it’s being used.
Grant management helps you keep track of the progress of your grant-funded projects, and donor management ensures that you’re thanking your donors and keeping them updated on how their donations are being used.
Blackbaud Financial Edge NXT is a comprehensive solution that will help you manage your finances and run you’re nonprofit more efficiently.
Pros and Cons of Blackbaud Financial Edge NXT
One con is that it is a subscription-based software, so you will have to pay a monthly fee to use it.
In addition, it can be difficult to learn how to use all of the features.
However, the subscription fee does include training and support. Another con is that it is not available in all countries.
Some pros of using Blackbaud Financial Edge NXT include the fact that it is easy to use and navigate, even for beginners.
The software is also constantly being updated with new features and security patches.
In addition, it offers a free trial so you can try it before you buy.
Overall, Blackbaud Financial Edge NXT is great accounting software for nonprofits.
However, it’s important to weigh the pros and cons before deciding if it’s right for your organization.
Abila MIP Fund Accounting
4
If you manage finances for a nonprofit organization, you know how important it is to have fund accounting software in place.
Abila MIP Fund Accounting is a top choice for nonprofits and for good reason.
It’s easy to use, offers a free trial, and is packed with features that make fund accounting a breeze.
With Abila MIP Fund Accounting, you can track income and expenses by the fund, manage donor information, and generate reports with ease.
Plus, the software integrates with other Abila products, making it a great choice for organizations that use multiple Abila products.
If you’re looking for fund accounting software that will make your job easier, be sure to check out Abila MIP Fund Accounting.
You won’t be disappointed.
Pros and Cons of Abila MIP Fund Accounting
One of the main pros of this accounting software is that it is very user-friendly and easy to navigate.
Even if you are not an accounting expert, you should be able to easily use all the features and options within the software.
Another plus of Abila MIP Fund Accounting is that it offers a lot of customization options.
This means that you can tailor the accounting software to better suit your specific business needs.
However, there are also a few cons associated with using Abila MIP Fund Accounting.
One downside is that it can be quite expensive, especially if you need to purchase multiple licenses.
Another potential issue is that some users have complained about customer service in the past.
Some have said that it can be difficult to get in touch with someone who can help solve your problem.
Overall, Abila MIP Fund Accounting is accounting software that has a lot to offer businesses.
However, it is important to weigh the pros and cons before deciding if this accounting software is right for you.
Sage Intacct
5
Sage Intacct is fund accounting software that provides nonprofits with a free trial.
The software offers a variety of features to help organizations track their finances, including fund accounting, grant management, and budgetary controls.
In addition, Sage Intacct integrates with several other applications, making it easy to track all of your organization’s financial data in one place.
Whether you’re just getting started with fund accounting or you’re looking for a more comprehensive solution, Sage Intacct is worth considering.
With its free trial and wide range of features, it’s an ideal option for nonprofit organizations.
Pros and Cons of Sage Intacct
PROS:
– Can be customized to fit the specific needs of your organization
– Easy to use interface
– Automates accounting processes
– Integrates with other software systems
– Produces financial reports that meet generally accepted accounting principles (GAAP)
– Offers a cloud-based option
CONS:
– Can be expensive to implement
– Requires a certain level of accounting knowledge
– Does not offer support for double-entry bookkeeping
– Reports can be challenging to interpret if yo
Microsoft Dynamics GP
6
Microsoft Dynamics GP is a fund accounting software that offers a free trial for nonprofit organizations.
The software is designed to help manage finances and track fund performance.
It includes features such as fund accounting, grant management, and financial reporting.
Microsoft Dynamics GP also offers support for multiple languages and currencies.
nonprofit organizations can use the software to manage their finances and track their fund performance.
The software is available in a free trial, which allows users to explore all of the features and functionality before making a purchase.
Microsoft Dynamics GP is an excellent option for those who are looking for an all-in-one fund accounting solution.
Try out the free trial today to see how it can benefit your organization.
Pros and Cons of Microsoft Dynamics GP
One key benefit is that it helps businesses to automate their accounting processes, saving time and money.
In addition, the software is easy to use and provides users with real-time insights into their financial situation.
However, there are some drawbacks to using Microsoft Dynamics GP.
One potential downside is the cost of the software, which may be prohibitive for some businesses.
In addition, the learning curve associated with the software can be steep, meaning that it may take some time for users to become proficient in its use.
Overall, Microsoft Dynamics GP is a powerful accounting tool that can offer significant benefits for businesses, but it is important to weigh the pros and cons before deciding on whether or not to use it.
Netsuite ERP
7
NetSuite is much more than just fund accounting software.
It’s an Enterprise Resource Planning (ERP) system that helps nonprofits manage every aspect of their business, from fund accounting and donor management to program delivery and human resources.
And because it’s a cloud-based system, nonprofits can access NetSuite from anywhere, at any time.
Best of all, there’s a free trial available so nonprofits can see for themselves how NetSuite can help them run their operations more efficiently and effectively.
So why not give it a try?
There’s nothing to lose and everything to gain.
Pros and Cons of Netsuite ERP
Here are some of the pros and cons of using Netsuite ERP for fund accounting:
Pro: NetSuite integrates with a wide range of accounting software, making it easy to transfer data between systems.
Con: NetSuite can be expensive, particularly for businesses that require a lot of customization.
Pro: NetSuite offers a variety of features, including inventory management, project accounting, and time tracking.
Con: NetSuite can be complex to use, and it may take some time to get used to all of the features.
How to choose the right nonprofit accounting software?
If you manage the finances of a nonprofit organization, you know how important it is to have fund accounting software that meets your specific needs.
With so many different options on the market, choosing the right software can seem like a daunting task.
However, there are a few key factors to consider that can help you make the best decision for your organization.
Consider what financial management features are most important to you
Many fund accounting software programs offer features like bank reconciliation and tracking expenses.
Make a list of the must-haves for your organization, and then narrow down your options based on which software programs offer those features.
Consider ease of use
You’ll want to choose a software program that is user-friendly and easy to navigate.
Ask around to see if anyone in your organization has experience with any of the software programs you’re considering.
Don’t forget to consider the price
Many fund accounting software programs offer free trials, so be sure to take advantage of those before making your final decision.
By considering these factors, you can be confident that you’re choosing the right fund accounting software for your nonprofit organization.
Why should I use accounting software specifically designed for non-profits?
There are several reasons why you should consider using fund accounting software specifically designed for non-profits.
Fund accounting software can help you manage your cash flow more effectively
With fund accounting, all income and expenses are tracked separately, so you can see at a glance where your money is coming from and going to.
This information can be invaluable in planning your budget and ensuring that you have the resources you need to meet your financial obligations.
fund accounting software can help you manage accounts payable and accounts receivable more efficiently
With fund accounting, all transactions are automatically recorded in the appropriate accounts, so you don’t have to waste time manually entering data.
This can save you a considerable amount of time and effort, and it can help you avoid errors that could lead to financial problems down the road.
Fund accounting software can provide valuable insights into the financial health of your organization
By tracking income and expenses carefully, you can get a clear picture of where your money is being spent and where improvements could be made.
This information can be invaluable in making sound financial decisions about the future of your organization.
For these reasons and more, fund accounting software should be considered an essential tool for any non-profit organization.
Management of fund accounting software
Fund accounting software is an essential tool for fund administrators, providing a centralized platform for cash management, portfolio management, and risk management.
The software enables fund administrators to track and report on the performance of the fund and to identify and manage potential risks.
The software also provides a range of reporting tools, which can be used to produce detailed reports on the fund’s performance.
In addition, the software can be used to monitor the fund’s compliance with regulatory requirements.
The fund accounting software market is highly competitive, and there are several different products available.
However, it is important to select a product that is suited to the specific needs of the fund.
For example, some products may provide more comprehensive reporting tools than others.
In addition, it is important to consider the cost of the software and the level of support that is available.
Jordan Salas
Jordan is an experienced CPA and an author & editor at Financopedia. Over the past 12 years, he has written tax and financial content for leading brands. His writing has been featured in Forbes, The Los Angeles Times, Walstreet journal, and more. Jordan enjoys watching old movies and hiking in his free time.
At Financopedia, we’re committed to assisting small businesses and individuals with their finances and taxes. Occasionally, this leads us to generalize tips. Please email info@financopedia.co if you have questions.
