There is a variety of processes involved in running a non-profit organization, accounting is one of them. Since the organizations are either partially or fully funded by donors, the accounting operations should be seamless and error-free for clear record-keeping and reporting of how the funds were utilized in projects or interventions.
Accounting in non-profit organizations is a hectic process. Generally, there are multiple ongoing interventions, so a lot of manpower is required to account for the allocation, distribution, and utilization of funds.An accounting solution comes in handy here - automating the tedious and time-consuming workflows for the non-profits so they can focus on the ongoing projects and funds generating activities. Nevertheless, choosing a best-suited accounting solution isn’t an easy task as there are hundreds of alternatives in the market.
So, let us help you out with that.
In this article, we will recommend the 7 best accounting solutions best-suited for non-profits. We have conducted thorough research and selected the most fitting solutions for you. Our recommendations are based on detailed scrutiny of features, prices, pros & cons, customer reviews, value-added benefits, and more.
1. ZarMoney
ZarMoney is online accounting software that tops our recommendation list. The tool comes with a variety of features and is best-suited for accounting workflows in a non-profit organization. It doesn’t matter whether your organization is partially or fully funded, ZarMoney not only helps you keep track of allocation and utilization of funds but also facilitates seamless invoicing for generating funds via commercial operations like selling products or services offering. Given below is a list of the key features that this accounting software has to offer.
1. Feature List
ZarMoney comes with a variety of features and offers a seamless user experience. Here are some of the core features offered by the tool:
- Bank connections
- Account management
- Account reconciliation
- Bill management
- Accounts payable transactions
- Accounts receivable transactions
- Fund accounting
- Project accounting
- Related transactions
- Chart of accounts
- Bank deposits
- Online payments
- Import bank transactions
- Funds transfer
- Automatic expense tracking
- Automated taxation
- Profit and loss statements
- Journal entries
- External integrations
- Alerts and reminders
- Reporting and analytics
- And more
2. Top 3 Features
ZarMoney comes with a wide range of features to streamline the accounting workflows for non-profits. Here, we will mention the top 3 features that hold utmost importance for streamlining the accounting workflows in non-profits.
A. Account Reconciliation
Account reconciliation is a time-consuming yet essential task as it ensures the authenticity of the transaction records. What if you could automate such a repetitive yet tedious workflow. ZarMoney enables you to reconcile accounts with just a single click - without having to spend hours to ensure that the figures in records are in agreement.
B. Bill Management
ZarMoney makes billing operations seamless for non-profits. Users can print checks individually or in bulk, pay multiple vendors simultaneously, simplify recurring payments, and track bills or expenditures with ease. There’s nothing that goes unaccounted for when an organization is powered by ZarMoney.
C. Automated Taxation
ZarMoney authorizes the non-profits to configure different tax regulations for respective intervention areas. With ZarMoney, you can automate the taxation workflows with ease or simply override the feature and file taxes manually. The tool facilitates legal compliance either way.
3. Pros and Cons
Pros
- Free trial
- Scalable accounting solution
- Simple user interface
- Easy to use
- 9600+ bank connections
- Automated billing
- Custom tax policies
- Multi-location support
- Multi-currency support
- One-click account reconciliation
- Multi-login
- Access permissions
- Does not have a steep learning curve
Cons
- Doesn’t offer a free plan
- Bank connections in the U.S. and Canada only
4. Pricing
ZarMoney offers 3 different price plans - Entrepreneur, Small Business, and Enterprise.
- Entrepreneur: This plan costs $15 a month for single-user access, facilitates unlimited transactions, and comes with standard features along with 24/7 customer support.
- Small Business: This plan costs $20 a month, allows 2 multi-logins, facilitates unlimited transactions, and offers standard features with 24/7 customer support.
- Enterprise: This plan starts from $350 per month and is best suited for large non-profit organizations. The plan supports 30+ users, offers custom features, facilitates specialized training, and has a dedicated account representative allotted to you for priority support.
5. Integrations
ZarMoney facilitates its users with a wide range of third-party connection options. Here are some of the integration options facilitates by ZarMoney:
- AutoEntry
- Stripe
- Authorize.Net
- Gusto
- Mailchimp
- Zapier
- Shopify
- And more
6. Average Rating from Software Directories
In this section, we will explore the average rating earned by ZarMoney’s accounting solution based on its performance. For this, we will access the user reviews posted on leading tech forums like Capterra, GetApp, and G2, select the overall rating representing the platform, and deduce an average rating using a cumulative of the three scores. The average rating of ZarMoney based on its reviews posted on Capterra, GetApp, and G2 is 4.73.
7. Testimonials and Reviews
After the average rating of the accounting solution, we will dive into the tool’s user experience by exploring user reviews posted on GetApp. Here, we will take one positive and one negative encounter to paint a complete picture for you to make an informed decision.
First, let’s check a positive review posted by Mary D.
“Great Quickbooks alternative.”
Now, let’s explore the negative experience encountered by David B.
“1. Some aspects of setup and transactions were confusing or unclear. 2. Help files are often inadequate or nonexistent. 3. Unable to adequately adjust the dashboard display. 4. No graphic display of data or charts.”
8. Customer Support Options
ZarMoney comes with three different customer support options - helpdesk, live chat, and on-call support. You can email the help desk or reach out to the customer support representative via live chat for queries and concerns. However, for problems that require immediate attention, they offer on-call customer support to resolve your issues quicker.
9. Product Screenshots
10. Bottom Line
ZarMoney is a feature-rich accounting solution for non-profit organizations. It’s an affordable option compared to other alternatives in the market which makes it best suited for firms that are on a tight budget. The tool comes with a wide range of capabilities and automation options to set accounting workflows on autopilot. ZarMoney is a scalable accounting solution and does not have a steep learning curve. With an average rating of 4.73, the accounting solution sits at the top of our recommendation list for non-profits.
2. Quickbooks Online
On the second spot of our recommendation list comes Quickbooks Online - a one-stop accounting software. It’s a web-based solution preferred by small to medium-sized businesses for accounting, expense monitoring, payroll management, and other business operations. Since non-profits usually operate in multiple intervention areas, they need an accounting solution that’s mobile and easily operational. This is where Quickbooks Online comes in handy as the solution supports a variety of devices and operating systems. Not only this, the tool comes with a variety of features and external integration options to facilitate other workflows of the organisation.
1. Feature List
Quickbooks Online offers a wide range of features to its users. Here are some key capabilities that come with the tool:
- Account management
- Bill management
- Account reconciliation
- Accounts payable transactions
- Accounts receivable transactions
- Accrual accounting
- Asset accounting
- Chart of accounts
- Fund accounting
- Project accounting
- Bank deposits
- Online payments
- Expense tracking
- Payroll
- Automated taxation
- Reporting and analytics
- And more
2. Top 3 Features
Quickbooks online is a multi-purpose accounting solution. Here are the top 3 features from a variety of capabilities that this software has to offer.
A. Chart of Accounts
Chart of accounts is usually set up by an expert accountant and generally referred to as a list of financial accounts representing an organization’s operations - made readily available for use. Chart of accounts gives companies digestible information or a bird’s eye view of the current financial position without having to dive deep into the nitty-gritty. This is one of the handy features offered by Quickbooks Online - bringing accounts information to your fingertips.
B. Project Accounting
Non-profits usually have multiple projects going on. At times, it becomes difficult to keep track of all the financial information without any errors. The project accounting feature facilitates by Quickbooks Online comes in handy here - facilitating non-profits to manage the financial data for multiple projects with ease and account for the expenditures incurred without any errors in the process.
C. Expense Tracking
The expense tracking feature facilitated by Quickbooks Online enables nonprofits to set expense monitoring and accountability on autopilot. The solution helps you to track and record expenses for projects or interventions with ease without having to rely on multiple tools. You can also track the traveling expense or mileage cost using GPS data and adjust the amount automatically into the account.
3. Pros and Cons
Pros
- An online accounting solution
- Compatible with a variety of devices and operating systems
- Easy to navigate
- Easy to use
- Doesn’t have a steep learning curve
- Comes with detailed reporting capabilities
- External integration options
- Multiple user support
Cons
- Lackluster customer support
- Expensive
4. Pricing
Quickbooks Online comes with four different price plans for its users: Simple Start, Essential, Plus, and Advanced.
- Simple Start: At the price of $25 per month, the Simple Start plan of Quickbooks Online is best suited for small companies or individual consultants as it offers very basic accounting features.
- Essential: The Essential plan of Quickbooks Online costs $50 per month, comes with multi-user functionality, and supports up to 3 logins. The plan comes with standard accounting features and is best suited for small to medium-sized organizations.
- Plus: The Plus plan of Quickbooks Online comes at the price of $80 per month, supports up to 5 users on a single connection, and offers standard accounting features to companies.
- Advanced: The Advanced plan costs $180 per month, supports up to 25 users on a single account, and comes with all the accounting capabilities that Quickbooks Online has to offer.
5. Integrations
The following are the external integration options that are facilitated by Quickbooks Online to support other operations of the company:
- PayTraQer
- PayPal
- Mailchimp
- Gusto
- Eventbrite
- Zapier
- TaxDome
- Rippling
- Freshdesk
- Invoice Sherpa 2.0
- Squarespace
- AR Collect
- And more
6. Average Rating from Software Directories
In this section, we will explore the average ranking representing Quickbooks Online on leading tech forums like Capterra, GetApp, and G2. To deduce an average, we accessed the aforesaid platforms and viewed product listings over there. Based on our calculation, the average ranking representing Quickbooks Online is 4.26.
7. Testimonials and Reviews
In this section, we will explore the user reviews for Quickbooks Online submitted on GetApp. This is to see the solution from the point of view of people who’ve had first-hand experience with the tool. To keep a balanced approach, we will consider one positive and one negative feedback provided in the reviews.
First, let’s check the positive review submitted by Tara J.
“QBO has been life-changing for me and my practice. I have clients all over the country, without QBO is could not have grown my business at the same rate.”
Now, let’s explore the negative side of things with a review posted by Marcus S.
“The app is slow to manually process data. There are major limitations when attempting to modify data within the software or correct recording errors. They advertise that any business owner can do everything themselves in the software but in practice most of the things business owners do are inaccurate.”
8. Customer Support Options
Users can reach out to Quickbooks Online customer service via three support mediums - email, live chat, and call. You can either write an email to their help desk for your queries or reach out to their representatives via the 24/7 live chat option. Quickbooks also facilitates users with an on-call support option for urgent queries and concerns.
9. Product Screenshots
10. Bottom Line
Quickbooks Online is a feature-rich accounting solution to consider for non-profits. The tool not only comes with a variety of capabilities but also offers a wide range of external integration options. The tool facilitates users with a multi-login feature and can be accessed remotely anywhere - making it a preferable choice for companies that are operational in intervention areas or constantly on the move. With an average rating of 4.26, Quickbooks Online is a fine accounting solution to consider.
3. Xero
Xero is an online accounting solution that sits at the third spot on our best accounting software recommendation list. It’s a feature-rich tool that comes with a wide range of capabilities for accounting workflows such as bank reconciliation, bookkeeping, expense tracking, billing, and more - facilitating the in-house and field operations of non-profits. Xero also facilitates its users with powerful dashboards to give them a detailed overview of the financial situation in an easy-to-understand format. With over a thousand integration options, Xero is a worthy accounting solution to consider.
1. Feature List
Xero offers a lot of features. Here are some of the key capabilities that come with this accounting solution:
- Account management
- Accounts payable transactions
- Accounts receivable transactions
- Accrual accounting
- Asset accounting
- Bank reconciliation
- Cash flow management
- Fund accounting
- Project accounting
- Online payments
- Bank deposit
- Expense tracking
- General ledger
- Profit and loss statements
- Tax management
- And more
2. Top 3 Features
Xero comes with a wide range of capabilities. Here are the top 3 significant features that Xero has to offer.
A. Project Tracking
Xero enables users to manage different projects and track progress seamlessly. This allows non-profits to monitor multiple projects simultaneously without having to rely on multiple tools to facilitate the process.
B. Bank Connections
Xero facilitates organizations with bank connections - allowing them to manage and reconcile statements with ease. You don’t have to upload bank data manually, all you have to do is sync accounts and you’re done. The tool also facilitates you with automatic bank feeds to keep you updated with the financial happenings.
C. Sales Tax
Xero enables users to manage taxation workflows effortlessly. With Xero, you can configure and use custom sales tax rates - applicable to different operational regions. The tax rates are automatically applied on respective transactions - giving you complete control over the tedious process of filing returns.
3. Pros and Cons
Pros
- Free trial
- Simple user interface
- Affordable
- Scalable
- Device compatibility
- External integrations
- Real-time bank feeds
Cons
- Steep learning curve
- The payroll feature is a paid add-on
- Poor customer service
4. Pricing
Xero comes with three different price plans - Early, Growing, and Established. Let’s explore them briefly:
- Early Plan: This plan costs $5.5 per month and comes with very basic features - making it a suitable choice for professionals or companies that are just getting started.
- Growing: This plan costs $16 per month and comes with the standard features that Xero has to offer.
- Established: This plan costs $31 per month and facilitates users with all advanced capabilities of Xero. However, the users have to pay an additional $39 per month to unlock the payroll feature.
5. Integrations
Xero facilitates its users with a wide range of connectors for third-party apps. Here are some of the important integration options that come with the tool:
- PayPal
- Stripe
- GoogleDrive
- Dropbox
- Mailchimp
- Gusto
- Hubspot
- Eventbrite
- Zapier
- Rippling
- Square
- And more
6. Average Rating from Software Directories
In this section, we will present the average rating representing Xero on leading tech review sites. To calculate the average rating, we visited three renowned tech forums - Capterra, GetApp, and G2 - exploring listings to calculate the final score. According to our calculation, the average rating of Xero concerning aforesaid forums is 4.3.
7. Testimonials and Reviews
Now, let’s hear it from the users of Xero themselves and learn about their experience of the software by exploring their reviews.
Let’s start with a review posted by Judah K.
“So far, it has been amazing. I have little to no complaints. Everyone that I have moved to Xero has told me, thank you.”
And, here’s another one by Mansur A.
“Shortly very bad support killing everything good.”
8. Customer Support Options
Similar to other accounting alternatives in the market, Xero offers different customer support options. Users can either reach out to the customer service representatives via live chat or call. They can also contact Xero’s help desk for support through email queries.
9. Product Screenshots
10. Bottom Line
Sitting at the third spot on our recommendation list, Xero is a credible accounting solution. With an average rating of 4.3, the tool offers a variety of features and integration options to facilitate accounting operations and other workflows in non-profits. Starting from $5.5, Xero is not just an accounting software best suited for small to medium-sized organizations but also projects that are just getting started.
4. Freshbooks
Making accountants’ lives a lot easier, Freshbooks sits at number 4 on our recommendation list of the best accounting software. It’s a flexible and straightforward accounting solution best suited for non-profits that want to automate their check and balance process along with the accounting workflows. The tool facilitates accuracy and compliance and presents financial data in an easy-to-understand way to fuel informed decisions.
1. Feature List
Freshbooks offers a wide range of features and capabilities. Here are some of the important perks that the accounting software has to offer:
- Account management
- Bank reconciliation
- Billing management
- Accounts receivable transactions
- Accounts payable transactions
- Expense tracking
- Claims management
- General ledger
- Balance sheet
- Chart of accounts
- Project accounting
- Tax calculation and management
- Reporting and analytics
- And more
2. Top 3 Features
Here are the 3 of the most important features offered by Freshbooks.
A. Project Accounting
Freshbooks’ project accounting feature is very beneficial for non-profits. The tool comes in handy for managing accounting workflows for different projects. You can easily manage accounts, track expenses, explore feasibility, and access data for forecasting or other financial decisions for projects.
B. Expense Tracking
Freshbooks helps you get rid of the menial workflows when it comes to tracking expenses. The solution enables users to track expenses automatically in real-time. This comes in handy to ensure efficient utilization of funds and accurately calculate the burnout rate for a project. You can also record and adjust billable expenses such as mileage or travel expense.
C. Charts of Accounts
With Freshbooks, you don’t have to rely on an accounting professional to set up a chart of accounts for you. The tool facilitates you with all the information you need - keeping you connected with all financial operations. Freshbooks efficiently presents information - making decision-making easier for project owners.
4. Pros and Cons
Pros
- Free trial
- Currency conversion
- Multi-language support
- Multi-platform support
- Simple user interface
- No steep learning curve
- External integrations
- Device compatibility
- Prompt customer support
Cons
- Expensive
- Limited features
5. Pricing
Freshbooks offers 4 price plans to its users - Lite, Plus, Premium, and Custom. Here are some specifications associated with each plan:
- Lite: This plan comes at the price of $7.5 per month and offers very basic features to users.
- Plus: This plan costs $12.5 per month, comes with standard features, and is best suited for small companies or projects.
- Premium: This plan costs $25 per month, comes with advanced capabilities of Freshbooks, and is best suited for medium to large-sized organizations.
- Custom: There’s no price associated with this plan, to get the quote, users have to contact Freshbooks representatives with their requirements to get a tailored price.
6. Integrations
Freshbooks comes with a variety of integration options. Here are some of the renowned third-party connections supported by the tool:
- PayPal
- Slack
- Trello
- GoogleDrive
- Mailchimp
- Asana
- Basecamp
- Gusto
- Hubspot
- Eventbrite
- Stripe
- Zapier
- Square
- Calendly
- Zendesk
- And more
7. Average Rating from Software Directories
To explore the average rating of Freshbooks, we visited three renowned software directories to view the respective listings - Capterra, GetApp, and G2. According to our calculation, the average rating representing Freshbooks on the aforesaid tech forums is 4.5.
8. Testimonials and Reviews
In this section, we explored GetApp to learn about the experiences of users who have had first-hand experience with Freshbooks. For neutral evaluation, we took one positive and one negative review posted by the users.
First, let’s check a positive review posted by Subhojit S.
“Fresh Book is easy to use accounting software. It has smart features that take charge of all the accounting applications. It is comparatively cheaper than other software. The small entrepreneurs get immense satisfaction from the use of FreshBooks despite few constraints.”
Now, let’s have a look at the dark side by checking this review posted by Janet B.
“This is a terrible program, absolutely overpriced for what you (don't) get. Customer service is great! Product is horrible unless you like paying for frustration and annoyance.”
9. Customer Support Options
Freshbooks offers three different support options - help desk, chat, and call. Current or potential users can reach out to their customer support representatives via email or discuss their queries through live chat. Freshbooks also facilitates you with on-call support for urgent issues.
10. Product Screenshots
11. Bottom Line
With an average rating of 4.5 on leading tech forums and communities, Freshbooks sits at the fourth spot on our recommendation list. The tool comes with a variety of features and is a handy solution for automating the accounting workflows of non-profits. The software has a straightforward user interface and doesn’t have a steep learning curve. However, according to some user reviews, the tool offers fewer features for the price compared to other alternatives in the market.
5. Zoho Books
Sitting on the 5th spot on our best accounting software recommendation list, we have Zoho Books - a feature-packed accounting solution preferred by small to large-sized organizations around the globe. Zoho Books is online accounting software that offers all that you need for automating accounting workflows. The software is really easy to use and comes with a variety of integration options to facilitate other business operations and workflows. Here, we will explore the capabilities offered by Zoho Books in detail to justify its position at the given spot on our recommendation list.
1. Feature List
Zoho Books comes with a wide range of features and capabilities. Here’s some top of the list features offered by this accounting solution:
- Account management
- Account reconciliation
- Online payments
- Expense tracking
- Accrual accounting
- Project accounting
- Cash management
- Financial analysis
- General ledger
- Income statement
- Balance sheet
- Profit and loss statements
- Tax management
- Reporting and analytics
- And more
2. Top 3 Features
Zoho Books offers a wide range of features and capabilities. Here are some of the important perks associated with this accounting solution.
A. Account Management
The account management feature enables organizations to automate their accounting workflows and manage transactions with ease. Management of financial records and transactions is a tedious and time-consuming process. This feature sets the accounting processes on autopilot so you can focus on productive matters compared to repetitive tasks.
B. Project Accounting
This is a handy feature for non-profits or project-based organizations as it helps companies manage accounts of ongoing projects and their corresponding activities with ease. Recording and managing financial transactions for multiple projects can be a hassle. This feature enables users to manage multiple projects simultaneously - minimizing the likelihood of accounting errors.
C. Accrual Accounting
Accrual accounting caters to a special type of transaction records for expenses or revenue. This form of record-keeping is preferred by some and not acknowledged by others. However, it’s a useful practice in some scenarios. For accrual transactions, the payable or receivable amounts are recorded when the transaction occurs not when the payment is done or received.
4. Pros and Cons
Pros
- Multi-company support
- Multi-currency support
- Offers a free plan
- User friendly
- Simple to set-up
- Affordable
- Supports other Zoho apps
- External integrations
- Decent customer support
Cons
- Doesn’t sync with bank accounts in real-time
- Complicated reporting
5. Pricing
Zoho Books offers 4 price plans - one of them is free and the cost of the other three varies as per the features offered.
- Free Plan: This plan doesn’t charge anything and supports a single login. The capabilities offered by this plan are very limited and it can only be subscribed by companies with revenue less than $50K per annum.
- Standard Plan: This plan costs $12 per month and supports up to 3 simultaneous connections. The plan comes with basic features and integration options.
- Professional Plan: This plan costs $24 per month, is best suited for small to medium-sized organizations, supports up to 5 user connections, and offers standard features.
- Premium Plan: This plan charges $36 per month, is best suited for large organizations, supports up to 10 simultaneous connections, and comes with all the capabilities of Zoho Books.
6. Integrations
Zoho Books facilitates a wide range of integration options. Here are some of the renowned third-party apps supported:
- All other Zoho apps
- Authorize.Net
- Braintree
- Worldpay
- Stripe
- PayPal
- Razorpay
- Paytm
- 2Checkout
- And more
7. Average Rating from Software Directories
To calculate the average rating of Zoho Books, we visited renowned tech forums and software directories like Capterra, GetApp, and G2 to extract the product listing score based on user reviews. According to our calculation, the average rating earned by Zoho Books on aforesaid platforms is 4.46.
8. Testimonials and Reviews
To dive deep into the user experience facilitated by Zoho Books, we extracted some of the reviews posted by its users on one of the leading tech forums.
Let’s explore the experience acknowledged by David T. first.
“We are running all of our books for our small business with Zoho Books. It is simple to sync bank accounts and credit card accounts, and quickly categorize expenses, and run reports. Pleased with results.”
Now, let’s hear it from Seth P. whose experience wasn’t as great as aforesaid.
“My company has been down because of a bug in their system for 6 DAYS! They state that their escalation takes 4-5 business days because they have to outsource the fix. I would not recommend this at all for US customers.”
9. Customer Support Options
Zoho Books facilitates users with a variety of customer support options. You can either contact their 24/7 live chat by reaching out to them anytime or contact their help desk with your query via email. Zoho Books also takes on-call queries - providing customer support for urgent matters.
10. Product Screenshots
11. Bottom Line
With an average ranking of 4.46, Zoho Books sits at the fifth spot on our best accounting software recommendation list for non-profits. It’s an affordable, easy-to-use, scalable, and feature-rich accounting solution with no steep learning curve. This is what makes Zoho Books a renowned accounting software around the globe and a worthy alternative to opt for.
6. Sage Accounting
At the 6th spot on our recommendation list, we have Sage Accounting - another renowned accounting solution preferred by organizations worldwide. The software is best suited for non-profits and project-based organizations as it not only makes accounting workflows seamless but also facilitates remote operations. The tool comes with a variety of features and third-party app integration options to facilitate the accounting workflows and other company operations.
1. Feature List
Sage Accounting facilitates its users with a wide range of features and capabilities. Here are some of the important features offered by the tool:
- Account management
- Accounts payable transactions
- Accounts receivable transactions
- Billing management
- Bank reconciliation
- Budgeting and forecasting
- Online payments
- Bank deposits
- Expense tracking
- Fraud detection
- Funds management
- Profit and loss statements
- Project accounting
- Tax calculation
- Tax management
- And more
2. Top 3 Features
Among all the features that Sage has to offer, the below-mentioned are the top 3 worth listing.
A. Accounts Management
The account management is one of the key features offered by Sage Accounting. It enables organizations to get rid of the menial workflows and automate the accounting operations. The tool enables users to reconcile statements swiftly, stay updated with financial transactions, and maintain records error-free.
B. Project Accounting
Sage Accounting comes with project accounting capabilities. This feature is best suited for project-based organizations or non-profits with ongoing projects or interventions. The tool helps you manage multiple projects with ease and provides useful information at a glance for facilitating informed decisions.
C. Funds Management
This feature comes in handy for managing funds and allotted resources to an intervention or a project. It makes Sage Accounting one of the preferred solutions for the non-profits that are either partially or fully funded by the donors for running operations seamlessly.
3. Pros and Cons
Pros
- Free trial
- Simple user interface
- Multi-currency support
- Multi-company management
- Alerts and notifications
- Audit trail
- Detailed reporting
- Personalization features
- Desktop, cloud, and mobile access
Cons
- Poor customer service
- Limited integration options
- Steep learning curve
4. Pricing
Sage Accounting has 2 price plans to choose from - Sage Accounting Start and Sage Accounting Plan.
- Sage Accounting Start: This plan costs $10 per month and offers very limited features. It’s best suited for projects or companies that are just getting started.
- Sage Accounting Plan: This plan costs $25 per month and offers standard features of Sage Accounting. It is best suited for small to medium-sized businesses.
5. Integrations
Sage Accounting supports a wide range of third-party app connections. Here are some of the preferred options that come with the software:
- nettTracker
- EposNow
- 9Spokes
- Stripe
- BillBjorn
- AutoEntry
- SyftAnalytics
- Clarity
- ePages
- And more
7. Average Rating from Software Directories
To calculate the average rating of Sage Accounting, we explored three renowned tech forums and communities for information - Capterra, GetApp, and G2. And, based on the reviews submitted by users, the average rating for the solution concerning its respective listings is 4.13.
8. Testimonials and Reviews
In this section, we will explore the reviews and testimonials submitted by Sage Accounting users on leading tech platforms like GetApp. The purpose is to learn from the experiences of people who have used the tool first-hand.
Let’s start with a review posted by Jason S.
“Overall for our purposes the software is easy to set up and use. I like the ability to access it anywhere and the ability to attach documents to transactions in the system. Modifying the chart of accounts was easy but the lack of customization on the layout of financial statements is frustrating.”
Now, let’s check another review posted by Victoria D. whose experience was not so pleasant as the user above-mentioned.
“Very poor, would not recommend this software to anyone.”
9. Customer Support Options
Sage Accounting facilitates its users with 3 different support options. You can either contact their help desk via email, reach out to support representatives via live chat, contact customer support on call. The selection of an option is based on your discretion - it’s all about the nature of the query and urgency.
10. Product Screenshots
11. Bottom Line
With an average rating of 4.13 on leading tech forums and communities, Sage Accounting sits at the 6th spot on our recommendation list. It’s a web-based accounting solution that comes with a wide range of features and capabilities along with fund and project management options which make it a preferable choice for non-profits. However, the software falls short on a few aspects - making it a little less feasible compared to its alternatives.
7. Wave Accounting
On the last spot of our recommendation list of the best accounting software, comes Wave Accounting another feature-rich solution to be considered by non-profits. Despite being a very basic accounting software with limited features and functionalities, Wave Accounting is a preferable solution for the non-profits that are struggling with funds and budgetary constraints or just getting started. The tool doesn’t charge any, hence, it only facilitates a single user access per subscription. However, the solution comes in handy for automating accounting workflows for small projects. That’s why it takes the last spot on our recommendation list.
1. Feature List
Compared to its alternatives, Wave Accounting offers fewer features. Here are some of the important capabilities that come with the tool:
- Account management
- Account reconciliation
- Bill management
- Cash management
- Expense tracking
- Financial analysis
- Fund accounting
- Project accounting
- Income statement
- Balance sheet
- Profit and loss statements
- Tax management
- And more
2. Top 3 Features
Here are the 3 most important features offered by Wave Accounting that may come in handy to non-profit organizations.
A. Account Management
The account management feature is on top of the list of capabilities that come with Wave Accounting. The feature enables users to automate the accounting workflows and eliminate tedious and menial tasks like data entry and bookkeeping. You can also reconcile statements very quickly and stay up-to-date with the financial position of your company or project.
B. Project Accounting
Project accounting is a handy feature offered by Wave Accounting. This facilitates non-profits and project-based companies - allowing them to manage funding and financial transactions of ongoing projects with ease.
C. Cash Management
The cash management feature comes in handy for managing the cash flows and keeping a record of collections without having to put in the extra effort. This helps the non-profits to manage the cash in hand efficiently and keep a record of project funding and other receivables without any hassle.
3. Pros and Cons
Pros
- Free to use
- Simple user interface
- Multi-currency support
- Currency conversion
- Custom branding
- Alerts and notifications
- Reporting and analytics
- Great customer support
Cons
- Doesn’t support online payments
- Limited features
- Single login support
4. Pricing
Wave Accounting only offers a single subscription plan. The plan doesn’t charge anything and offers all standard features that are offered by Wave Accounting.
5. Integrations
There is no information provided on the official website of Wave Accounting regarding external integrations or third-party apps supported.
6. Average Rating from Software Directories
To calculate the average rating of Wave Accounting, we visited three of the leading tech forums and communities to view the product listings. The forums we visited were Capterra, GetApp, and G2. And, according to the reviews posted by users there, the average rating earned by the software is 4.4.
7. Testimonials and Reviews
Now, let’s dive into the user experience by exploring a positive and negative review posted by random users on GetApp.
Let’s start with a positive review posted by Josh C.
“There is very little more I can ask for with Wave for my small business. It is free for the features I need and allows me to take only ACH or credit card payments with a reasonable fee and I only pay the fixed percentage when I use those features so I can just turn it off and get a check from a client and not pay anything. Great Flexibility!”
Now, let’s check another review posted by Luke G.
“Support has been poor quality. As a paying customer of both their payroll service (which is solid) and their accounting coaching, I'm tremendously disappointed with the platform.”
8. Customer Support Options
Wave Accounting offers 2 different customer support options to its users. You can either reach out to their help desk via email or contact their chat support for queries and concerns. Wave Accounting also facilitates users with a forum and knowledgebase for self-service.
9. Product Screenshots
10. Bottom Line
Wave Accounting is a solution best suited for small projects or non-profits with limited funding. It’s free accounting software that comes with limited but useful capabilities. Despite having an average rating of 4.4 on leading tech forums and communities, Wave Accounting sits at the last spot on our recommendation list because it has limited features, has no integration options, and supports single login per subscription. A handy solution but not suitable for medium or large-sized companies.
Conclusion
There is a variety of accounting solutions in the market with features more or less similar to one another. Furthermore, there’s also a likelihood of false marketing - exaggerating the capabilities of the tools to influence the buying decision of potential users. All these factors make it extremely difficult to choose a solution best suited for your needs.
Considering the needs and operational workflows of the non-profits, we have created a list of accounting solutions that are worth considering. To compile this list, we explored the features, benefits, price plans, limitations, user reviews, and experience facilitated by the solutions to compile a final list of the 7 best accounting software. Based on their capabilities, the recommended solutions facilitate operations of small, medium, and large organizations.
Your ranking of the tools prescribed in this article may vary from ours because personal preference influences decisions. However, there’s no denying that the solutions prescribed in this article are renowned and preferred by organizations worldwide. Surely, you know your industry better than us. But, the information in this article will help you make an informed decision and select an accounting software best suited for your needs.
