For example, the cost for two users to remotely access the Diamond plan is $3,572.40. While other versions of QuickBooks have free trials, QuickBooks Enterprise Nonprofit does not. This version starts at $1,275 per year, but the price can increase based on what additional services you need. “This is a wonderful book that every bookkeeper in a nonprofit organization should have.”

Mid-sized nonprofits needing to better control their cash flow should consider QuickBooks. Nonprofits that need to track restricted funds should consider FreshBooks. Our ratings take into account a product’s cost, features, ease of use, customer service and other category-specific attributes. Within Sumac, you can see each donor’s history with your organization, including past donations and communications. You can try ACCOUNTS for free for 60 days, and you can download the free version online.

Nonprofit Accounting Statements and Reports

“Bookkeeping for Nonprofits is the remarkable new guide for a new generation of accounting challenges bookkeepers face every day.” Prepare for your annual board meeting by re-evaluating your organization’s goals. Cross out goals you’ve met and develop new goals for the upcoming year.

Therefore, nonprofits put more focus on the accountability of the accounting process. Nonprofit organizations follow a certain set of guidelines and procedures that keep them accountable to contributors and donors who want their money to go to certain projects and programs. It’s important that you’re using a bookkeeper and accountant who have experience preparing financial statements for nonprofit organizations. If you do something incorrectly, it could have a damaging effect on your organization.

Part-Time vs. Full Time vs. Outsourced Basic Bookkeeping Costs

Intuit QuickBooks offers several plans, ranging from $15 to $100 per month. Plan differences revolve around the number of users, customization options, inventory management, automations and expense tracking. Higher-tiered plans include advanced features such as automations. Cash disbursement journal definition You have to pay an extra fee for payroll services, starting at $45 per month. FreshBooks’ software stands out for its ability to track expenses and restricted funding. For example, time-tracking tools tell you how long it takes an employee to complete a project’s task.