It finally happens. Our small nonprofit organization has donors and taken off are flocking to our cause. But it is like a teenager growing out of the jeans, our nonprofit organization is growing way too fast for our free accounting software to handle easily. It is time for our nonprofit to move over to a nonprofit accounting software, but there are so many options to choose from, which one is right for our own business organization? Now I am going to discuss 5 affordable Auction Software options for nonprofit organization, these are:
Use a specific accounting software for nonprofit organization
We wouldn’t use a Samsung- phone case to protect our iPhone 7s, so why would we use accounting software for our nonprofit organization? Accounting software is built for the nonprofit organization which will include features that are not available with our regular software options like donation and grant tracking system.
Always be ready for using IRS audits
It is a vital point, that’s why, to be honest for IRS audits for our nonprofit organization if they are auditing our company. In this case, it is the best to have our organization squared away. There are some tips from Capital Business to make sure that we are fully prepared for an IRS audit:
- Be careful of the state law audit and federal law requirements. If audit starts, be sure to hold a pre-audit meeting with our staff who will work with other auditors.
- Assemble our all documentation, including a year-end reconciliation statement, a bank statement, a list of grant funds, assets and payroll, etc.
- Plan for our auditor field that works by planning our work location, coordinate, internet access, and how many will be visiting at our office on regularly.
Always try to plan for inconsistent income streams
When it is considered for a nonprofit organization, nothing is important in terms of fundraising. When we make the budget for the future, we shall have to leave wiggle room in our projections to account for potential drops in organization’s fundraising.
It is an amazing feature of an auction software. It is true that QuickBooks offers all types of the core features which we need in every nonprofit accounting software, such as account management and donor management.
Xero for Nonprofit organization
Xero is called the most extensive features, these are most transparent about their regular pricing, and these are the easiest to evaluate for purchase purpose.