Trending Nonprofit Accounting Software
Momentum scores for Nonprofit Accounting are shown below. The Momentum Grid® highlights each product’s Momentum score on the vertical axis and the product’s Satisfaction score on the horizontal axis. These scores are based on G2’s Satisfaction and Momentum algorithms. Products with a top 25% Momentum Grid® score are shown within the shaded area below.
Nonprofit Accounting Momentum Grid® Description
A product’s Momentum score is calculated by a proprietary algorithm that factors in social, web, employee, and review data that G2 has deemed influential in a company’s momentum. Software buyers can compare products in the Nonprofit Accounting category according to their Momentum and Satisfaction scores to streamline the buying process and quickly identify trending products. For sellers, media, investors, and analysts, the Momentum Grid® provides benchmarks for product comparison and market trend analysis. Badges are awarded to products with the top Momentum Grid® scores.
Products included in the Momentum Grid® for Nonprofit Accounting have received a minimum of 10 reviews. There must also be at least a year of G2 data for the product to be included. These ratings may change as the products are further developed, the sellers grow, and additional opinions are shared by users; a new Momentum Grid® report will be issued for this category as significant data is collected.
Nonprofit Accounting Software Definition
Unlike businesses, nonprofits do not sell products or services for profit; instead, they focus on activities meant to benefit the public, the organizations’ members, or a specific group. The laws governing tax-exempt organizations such as nonprofits creates the need for specific accounting software. Nonprofit accounting software focuses on funding in its various forms (grants, donations, gifts, or members' contributions). Nonprofit accounting helps organizations manage their finances transparently so donors can understand how their contributions are used. Special accounting reporting is also necessary to comply with regulations for grant submissions.
Nonprofit accounting software integrates with other solutions that nonprofits use to manage donations and gifts such as donor management software, nonprofit CRM software, or fundraising software.
To qualify for inclusion in the Nonprofit Accounting category, a product must:
- Comply with not-for-profit accounting standards
- Track payments for donations, gifts, or grants and allocate funds to various programs
- Manage other types of transactions such as returns, sales cancellation, or exchanges
- Help accountants show financial accountability to the board of directors
- Generate not-for-profit accounting documents such as end-of-year donations statements or donor contribution reports
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