November 6, 2019
You can read the entire story HERE.
An excerpt from the article is listed below:
No matter what stage your nonprofit is in – whether you’ve just opened your doors with a handful of people, you’re growing quickly, or you’re an established, stable organization with several departments, staying on top of your accounting and bookkeeping is essential to your continued growth and success.
Knowing how much money is coming in, where it’s coming from, where it’s going – this may not seem like too daunting of a task, especially at first. When you start trying to manage your donations, maintain your budget, your payroll, and invoices, plus keep accurate records for both your donors and for tax purposes, it’s easy to get overwhelmed and start making mistakes, especially if you’re relying on DIY spreadsheets or free fund accounting software tools that simply doesn’t offer what you need.
That’s where a quality nonprofit accounting software solution can be a game changer, saving you time, reducing your stress, and most importantly, improving your accuracy and record keeping by having everything in one place and not having to rely on multiple tools. To help you choose which software is right for your organization, we’re providing an in-depth look at some of the leading choices, including features and what type of organization may benefit the most from each one.
Why Choose Accounting Software Specifically Built for Nonprofits?
This list will include fund accounting software specifically designed for nonprofit organizations or offer specific features necessary for NPOs. In addition to the standard features found in for-profit business accounting software, like accounts payable and receivable, budgeting and forecasting, these options often feature tools specific to the needs of an NPO, such as tools to accept and record donations, managing grants and trusts, and maintaining compliance.
Tips for Choosing the Right Nonprofit Accounting Software
Before choosing your permanent accounting solution, it’s best to have clarity regarding exactly what it is that you’re looking for. Consider making a list of the following factors and compare your list with the overviews of your option.
- Scalable – As your organization grows, can your software keep up?
- Size – Will you need a robust solution designed specifically for large organizations or, if you’re a small or local NPO, will a lighter option work best?
- Cloud-based or desktop accounting– If you’re the only one doing the accounting and it’s only at the office, this may not be a factor, but cloud-based functionality allows any approved user to access it from anywhere.
- Features – Think about what you absolutely have to have from your software and make sure any one you choose comes with that.
- Price – How much can you comfortably afford to spend? Also, is it a one-time fee, monthly, or annual fee?
Feel free to list anything you think of that you need to consider when making your decision. It’s important to note that many fund accounting software options offer tiered levels, like basic, standard, and premier, so when looking at features, see which package it’s in and how that affects price.
Best Nonprofit Accounting Software Solutions 
ShelbyNext Financials is cloud-based accounting software that is designed specifically for churches of all sizes. This is just one software platform for churches offered by Shelby and other products can be bundled for full church management software solutions.
Core features include:
- General ledger
- Accounts payable/receivable
- Fixed assets
- Bank reconciliation
- Purchasing management
Best for: Small to large churches needing nonprofit accounting software that goes beyond just the basic functionality.
Contact for a demo here!
Source: Capital Business Solutions
ShelbyNext Financials includes the accounting functionality churches need to properly steward their finances. As you consider various accounting software options, keep in mind that software which isn’t specifically geared towards non-profit organizations may not have all the GAAP required features that you and your auditors need. Also, if you prefer an all-in-one ChMS and accounting solution, you have the option to integrate with ShelbyNext Financials ShelbyNext Membership, Shelby Arena, or other Ministry Brands products.