Nobody can deny the fact that running a non-profit business is a noble cause. Sadly though even these types of businesses have to take care of their books too. However, it doesn’t have to be a tedious process: thanks to accounting in the cloud, you can make the process faster and easier. And if you are watchful enough, you can get your virtual assistant in accounting completely free of charge or for a reduced price.
No matter which of the below solution you choose, there are certain features that should be included in your software aside from the mandatory ones. Bank reconciliation is such a must, because this way you can see your cashflow and what payment methods are used the most. Being able to provide some sort of (limited) access to your co-workers and your accountant/bookkeeper is also good, as the formers will be able to send invoices and manage expenses on their own, while the latter can manage the reporting part of your business. Payroll should play an important role in your business as well; however, payroll functionalities are either an extra or it is only available via integration. Speaking of integrations, since you may heavily rely on selling things via e-commerce sites, and you need some sort of payment processor as well (like PayPal or Stripe), that is definitely a must – thus it is always provided by the accounting company in some way. And last, but not least, portability: most accounting software comes with handy mobile apps (or at least mobile-friendly websites) with which you can do the most important tasks like capturing receipts on the spot and even processing payments.
Let’s face it: even if you find the best solution, accounting services can be expensive. Therefore, try the following non-profit-friendly alternatives: open source software, free accounting solutions and discounts on the “regular” software.
The best thing about open source solutions like GnuCash and TurboCASH – aside from being free of charge – is that they have almost all features regular accounting software has, while they are available in multiple languages and provide a great community experience for true risk takers. However, just like in the case of non-profits, you should donate some money to the developers and you have to forget about portability, third-party software integrations and perfect reliability.
Software like Wave Accounting and Brightbook are true accounting solutions which provide most of their services free of charge: you get invoicing, receipt capturing, sometimes even bills, estimates, payroll, and mobile apps/browser-friendly versions. However, free software always limits some features and to unblock them, you must pay a monthly fee.
The last way to get accounting software affordably is to choose one of the regular solutions and apply for the extra discounts provided to non-profit organizations. Certain companies like Xero provide a lifetime 25% discount on any of its pricing plans if you are subscribing as a non-profit business owner. Another good solution, QuickBooks Online, does not have such an offer, but if you start using the software without the free trial, you can save 30% for 6 months.
Best Reviews may receive compensation for its content through paid collaborations and/or affiliate links. Learn more about how we sustain our work and review products.
©2012-2024 Best Reviews, a clovio brand –
All rights
reserved
Privacy
policy
·
Cookie
policy
·
Terms
of use
·
Partnerships
· Contact
us