What is the best accounting software for charities and faith organisations?

As a non-profit organisation, you’ll already know the importance of following principles for fund accounting to ensure you remain accountable for financial accounts and obligations.

For example, charities must guarantee that any money raised is spent only on the specific purpose of its intention. But with the right accounting software, charities can achieve this necessity with minimal complications and automated processes.

• Easy to analyse your data so you can monitor pay patterns and notice any irregularities.

• Enables organisations to manage donor information and finances.

• Lacks various industry-specific business features you should expect with accounting software.

• Limited to a cloud platform (Internet dependent).

• Minimal invoice design tools and file-size issues for transactions.

• £12 per month (one user)

• £22 per month (three users)

QuickBooks is a popular accounting software choice for small businesses. But it has a few issues outside of accounting and is not designed for a specific non-profit style purpose.

2. Xero
As one of the leading accounting software products in the UK, Xero enables charities and religious groups to save time and money with simple accounting and intuitive user experience (UX) capabilities. Here are a few benefits and limitations of Xero in more detail:

Advantages
• Additional apps and features are available for fundraising, donor management and marketing.
• You can manage all aspects of your organisation on one platform.
• No downloads or installation is necessary due to being a cloud-based product. 

Disadvantages
• Unlike other accounting software, Xero is more difficult to use and understand.
• It no longer includes built-in payroll and debt chaser features.
• Requisition, purchase and inventory aspects are basic.

Pricing
• £12 per month (Starter – 20 invoices and five bills)
• £26 per month (Standard – Unlimited bills, invoices and cashflow)
• £33 per month (Premium – The standard perks but in multiple currencies)

As cloud-based software, Xero supports thousands of companies but lacks certain aspects that your organisation may require. Ensure you do your research before deciding to invest.

3. Sage
Sage is a popular choice for multiple UK non-profit organisations by allowing you to manage finances efficiently and effectively at a 50% rate. Here are the pros and cons if you opt for Sage as your accounting software provider:

Advantages
• Offers a free trial so you can try before you buy and a 50% price reduction for all registered UK charities.
• It generates in-depth reporting across multiple financial features.
• Provides numerous customisation possibilities with budgeting and cash flow forecasting capabilities.

Disadvantages
• It’s challenging and time-consuming to set up.
• It requires training from a Sage expert to use it effectively.
• It can appear over-complicated with too many features.

Pricing
• £6 per month for UK charities (Starter – Normally £12)
• £12 per month (Standard – Normally £24)

Sage offers more features and in-depth reporting than your standard accounting software. But it can appear overcomplicated and requires training staff.

4. MyFundAccounting.
Online Based on the same system structure as Finance Co-Ordinator, MyFundAccounting. Online is designed specifically with charities and faith organisations in mind. MyFundAccounting. Online is created to manage the accounts of charities and religious groups with reports produced in compliance with The Charity Commission and OSCR requirements.

Here are a few of MyFundAccounting.Online benefits for your organisation:
• Unlimited funds and nominal accounts, including income, expenditure, and current assets.
• Easily edit and void transactions.

• The platform offers a robust audit system with advanced maintenance.
• Create memorised and template transactions with budgets and analytics features.
• You can export reports and data to various formats, such as Word, Excel, PDF, etc. Pricing
• £15 per month (£4 per additional licence)

With complete control capabilities and unlimited user access on the platform, MyFundAccounting. Online provides a superior charity accounting solution designed especially for non-profit organisations.