Here’s a truth that surprises many new nonprofit founders: You don’t need a full in-house accounting team to manage your finances like a pro. In fact, more and more organizations are turning to outsourced accountants or remote specialists to keep their books in shape. Naturally, you need collaboration tools in place to be able to keep them in the loop.
But here’s the catch. Outsourcing only runs smoothly when your financial data is clear, centralized, and easy to access. Without tools that provide that extra visibility, even the best expert can only guess the full picture. That’s where the right accounting solutions come in.
Nonprofit accounting requires real-time control over the numbers to ensure full compliance with the relevant authorities and regulations.
So, which are the best accounting tools helping nonprofits stay transparent and compliant?
Unit4 – The Best Overall for NonProfit Financial Control & Insight
If your organization needs crystal-clear visibility into financial ops, Unit4 is hard to beat. It’s a unified cloud platform that connects finance, HR, procurement, and program management in one place. That means fewer spreadsheets, fewer blind spots, and ultimately better control over every donation that comes in.
Additionally, the platform is entirely focused on transparency and accountability. It automatically tracks income and spending by funding source, which means you know where grants and donations are going. Its built-in compliance and reporting tools make donor reports quick to prepare.
The platform also includes financial planning and analysis tools. They help model different funding scenarios and better plan and prepare decisions. So, whether you are working with an accountant in-house or across the world, everyone can work with the same life data in real time.
Pros
- Unified platforms for finance, people, and programs
- Tracks money by funding source
- Built-in donor reporting and compliance features
- FP&A tools
- Real-time collaboration
- Reduces admin time
Cons
- Best for organizations with regular reporting cycles
- Needs setup and training time
Sage Intacct – Brilliant for Accounting & Compliance
Sage Intacct is built to give nonprofit organizations complete control over their financial data, from grant tracking to audit reporting. It delivers both reliability and precision. Additionally, the dimensional reporting feature lets you see detailed performance by location, program, and project, which is perfect for donor reporting.
Financial compliance for nonprofits is a given through reporting automation. So, nonprofits are audit-ready at any time.
Pros
- Strong accounting and reporting functions
- Excellent grant and fun management tools
- Compliance and audit reporting automation
- A trusted brand for nonprofits
Cons
- Not an all-in-one ERP
- Integration with other systems can be costly
- Some training needed
Blackbaud Financial Edge NXT – Great for Fundraising & Reporting
This tool is also a popular one for nonprofits. It’s designed specifically for charities, foundations, and social enterprises that need theory fundraising and finance data to work together.
The system connects donation tracking, grant management, and financial reporting in one place, which makes it easier to match donor contributions with project spending. The built-in reporting templates are also an advantage as they save a lot of manual work.
Blackbaud was built for nonprofits from the start, so it includes features that are helpful and easy to use for teams managing donors. However, the interface can feel a little dated compared to other cloud systems.
Pricing starts at around $10k to $15k a year, which directs it at mid-sized and larger nonprofits.
Pros
- Specifically built for nonprofit organizations
- Combines all financial data in one place
- Strong reporting and compliance functions
- An established provider
Cons
- Outdated interface design
- Difficult integrations with other systems
- Limited flexibility for complex structures
- Not an all-in-one ERP
Microsoft Dynamics 365 – Good for Cloud-Based Accounting
Microsoft Dynamics 365 is a pretty good choice for nonprofits that are already using some Microsoft products, such as Teams, Excel, or even Power BI. So, this is a tool that fits in an already familiar environment and helps integrate their accounting systems with other functions.
Thanks to its modular design, you can start off with what you need and build on from there, making it a good scalable option. So, if you just want the core accounting tools to start, you can add more features as the organization and its needs grow. Features that can be added include forecasting, reporting, and budgeting. This added flexibility helps small nonprofits that need accounting solutions without the big upfront costs associated with a full ERP rollout.
You can also automate and get real value out of your data. This is especially true if you already use the Microsoft ecosystem. Real-time financial data reports can bring new insights into Power BI, for example. You can also work from the same dashboard as your remote accountant and internal manager, so everyone is on the same page.
But bear in mind, MS has not been designed for profits, so some features will need to be added through partner extensions.
Pros
- Smooth integration with the rest of the MS solutions
- Scalable modules
- Strong data visualization and automation\
- Cloud-based for easy collaboration
Cons
- Add-ons needed for nonprofit-specific functions
- Setup can be time-consuming
- Costs rise with new modules and users
Multiview Cloud ERP – Reliable for Mid-Sized Nonprofit Finance Teams
Multiview Cloud ERP is another reliable option for nonprofit organizations that need clear financial insight and control without the burden of investing in a large enterprise system. It’s built specifically with finance teams in mind, so it packs serious accounting and reporting features designed to be used by experts.
Clarity of data is one of the major selling points of Multiview Cloud ERP. This means every transaction, adjustment, and report has a clear trail, so nonprofits are audit-proof at all times.
The solution can also handle multiple projects and funding streams simultaneously, so it’s a good fit for mid-sized organizations that run more than one program at a time. Besides, the price tag is a lot more palpable than big ERPs. However, the trade-off is that Multiview doesn’t have other functions like HR or program management.
Pros
- Excellent fund and grant accounting functions
- Clear audit trails and compliance
- Affordable
- Scalable
Cons
- Limited to financial management
- Fewer integration options
Conclusion
While outsourcing your finance is often necessary, it only works when your team and experts see the same numbers. The right software needs to enhance collaboration and give everyone the visibility they need for strategy, compliance, and confidence. The right tool for you may depend on your organization’s setup and needs, yet it’s worth investing in a solution that gives you the full picture instead of the financial aspects only.
