Zoltán G.
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Verified by
Sander D.
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Last updated:
July 25, 2024
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(0)
Running a non-profit organization is a very noble cause. Accounting is sadly a part of a non-profit too, and you want tedious bookkeeping tasks to take up as little time as possible so you can focus on the essence of your organization. Unfortunately you cannot get rid of accounting completely, but you can make the process faster and way easier. And this is why online accounting solutions cater to non-profit organizations, too.
These neat software can display your incomes and expenses in logical dashboards, let you create nice-looking invoices, easily track your expenses, pay your co-workers with the help of a payroll service and even allow you to give limited access to your constituents in order to provide complete financial transparency. And we didn’t even mention such “extras” like integration with third-party software, help from the customer service and the opportunity to learn more about bookkeeping through webinars and other means. No matter which solution you choose, with online accounting software your organization can better deliver on its mission.
The wonderful thing about online accounting solutions is that they have plenty of different features to satisfy all organizations, regardless of the activities they engage in. When you purchase such software, you will especially find the following very useful:
The dashboard of your online accounting software, which also serves as the main page of your account, is where all crucial information is displayed. You can see your cashflow at a glance, how much money you owe and you are owed, your bank statements, and many more. This gives you a firm grip on the finances of your non-profit and lets you see all key numbers and figures in one place.
Online accounting software are capable of quickly creating (multi-currency and/or recurring) invoices, either on your computer or on a mobile device. You can also customize your invoices to your liking and choose from sending them via email or snail mail. Furthermore, if a pay-as-you-go fast payment option is allowed, your clients can instantly pay you using their credit/debit cards or e-wallet accounts.
Recording expenses is very easy with an online accounting solution: you just have to type in the necessary data, and attach a receipt which you have captured with the camera of your mobile device, and your expense is recorded. The expense can be turned into a recurring one, like in the case of phone bills, or into an invoice which you can send to your client to let them pay for you.
You can give limited access to your donors and shareholders who could see your donation and expense data, thus providing them complete financial transparency. Also, you can invite your accountant who can work simultaneously with you on your reports, which, by the way, are auto-generated by the software.
This service, which either has to be activated and paid separately or you have to integrate a third party software, helps you file taxes and instantly pay your employees who can record their own time.
You think there is a feature missing from your software? Or you just want to make it more efficient? Well, if the company supports and offers an API, you have plenty of third-party applications and services you can integrate into your online accounting solution. E-wallets, invoicing apps, expense reporting tools, and software that organizes the data about your donors; they can all be managed from your online accounting software. Just give permission to your software to get the data from the other app you are using and you don’t have to switch between programs anymore.
For instance, if you have a PayPal account, and if you allowed your clients to pay instantly with the fast payment option, you can see your PayPal transactions imported into the software. With expense reporting tools like Expensify, you can track easily your expenses. With DonorPath you can identify hidden opportunities by getting updates about your donor information. The easy-to-use email and list management software Constant Contact lets you stay in touch with your donors in an efficient way. And with infoodle you can automatically import reconciled transactions and contacts to be quickly connected to donors, and generate receipts by any criteria.
Choosing a fitting online accounting solution is not easy, but if you want reliable software full of all features listed above, let us recommend you two of the best solutions: QuickBooks Online and Xero.
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