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The Best Fund Accounting Software

Get the best fund accounting software for your organization. Compare product reviews, pricing below. Read our buyer's guide for more help.

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Best
Overall
Aplos Fund Accounting Screenshot
Aplos Fund Accounting
All-in-one financial solution
Customize and export timely financial reports
Learn More
Best for
Nonprofits
Blackbaud Financial Edge NXT Screenshot
Blackbaud Financial Edge NXT
Cloud accounting solution
Intuitive, reliable, and secure
Learn More
Best for
Governments
MIP Fund Accounting Screenshot
MIP Fund Accounting
Report and track information you want
Scalable solution
Learn More
Best for
ERP
Sage Intacct Screenshot
Sage Intacct
Web-based, SaaS accounting solution
Automatesf complex processes and multi-dimensional data analysis
Learn More
Best for
Accounting
FastFund Screenshot
FastFund
Affordable
Contains general ledger, payroll, and more
Learn More

For the non-profit or public sector organization, success isn't defined by generating profits. Accordingly, nonprofits and government entities use different accounting methods than for-profit businesses.

A fund accounting software offers visibility into your financials to better understand exactly how each dollar is spent. With improved financial clarity, you'll be better equipped to lower operational costs and maximize the impact of every dollar.

We've compiled a list of popular fund accounting systems to help you find the best solution for you:

Best Overall:
Aplos Fund Accounting

★★★★★
★★★★★
(2)

Accounts to Tag
Reports
Dashboard
What We Like
All-in-one financial solution
Customize and export timely financial reports
What We Don’t Like
Best suited for small to midsize; not enterprise
Overview
Price Range: $$
Starting Price: $59/month
Client OS: Web

Aplos is a true fund accounting software which allows you to easily apply contributions and gifts to specific funds or projects. Keep track of how close you are to reaching your goals, and provide better financial stewardship for your organization.

Unlike other accounting software solutions, Aplos is specifically created for the complexities of nonprofits and churches—not for for-profit businesses.

Best for Nonprofits:
Blackbaud Financial Edge NXT

★★★★★
★★★★★
(14)

Accounts Filter
Bank Account
BS Report
Project Record
Vendor Activity
What We Like
Cloud accounting solution
Intuitive, reliable, and secure
What We Don’t Like
Custom reports are limited
Overview
Price Range: $$$
Client OS: Web

Blackbaud Financial Edge NXT is a complete cloud accounting solution designed to meet the unique needs of nonprofits and government entities. Built on Blackbaud's expertise and experience of over three decades, Blackbaud Financial Edge NXT delivers all the tools your NPO needs to manage financial reporting, monitor and track program success, support fundraising efforts, and ensure overall integrity.

Intuitive, reliable, and secure, Blackbaud Financial Edge NXT can help streamline financial processes at your organization, so you can spend more time and resources to drive your mission forward. And it comes to you on one cloud platform that's fast, secure, and always current.

Best for Government Agencies:
MIP Fund Accounting

★★★★★
★★★★★
(9)

#5
#4
#3
#2
#1
What We Like
Report and track information you want
Scalable solution
What We Don’t Like
Not very user-friendly
Overview
Price Range: $$$
Client OS: Windows

MIP Fund Accounting exclusively serves the financial management and fund accounting needs for thousands of nonprofits and government agencies. MIP has received the Campbell Award for several years in a row. This software is focused strictly on custom designs for your system to enable you to manage effectively, get timely information, streamline processes and provide strong controls.

MIP is a fully integrated system with comprehensive functionality including fund accounting, procurement, budgeting, payroll, human resources, timekeeping, fixed asset management, grant management, dashboards, and more. This flexible structure enables you to manage and report on multiple cost centers at the general ledger level including multiple organizations, funds, projects, grants, programs, departments, locations, etc.

Best ERP:
Donorbox

★★★★★
★★★★★
(5)

New Campaign
New Campaign Amount Setup
Example Website Donation Ask
What We Like
Web-based, SaaS accounting solution
Automatesf complex processes and multi-dimensional data analysis
What We Don’t Like
Hard to use report function
Overview
Price Range: $$
Starting Price: $45/month
Client OS: Web

Sage Intacct is a web-based, SaaS accounting and financial management software system designed for use by small and mid-size organizations. Sage Intacct was built by finance professionals, for finance professionals, providing powerful automation of complex processes and multi-dimensional data analysis even for government and nonprofit entities.

Best for Full Accounting:
FastFund

★★★★★
★★★★★
(21)

Control Register
Journal Entry
Accounts Payable
What We Like
Affordable
Contains general ledger, payroll, and more
What We Don’t Like
Difficult for those without accounting background
Overview
Price Range: $$
Starting Price: $42/user/month
Client OS: Web

FastFund Nonprofit Software is a fully integrated fund accounting system designed by Certified Public Accountants. Affordable modules include General Ledger, Accounts Payable, Accounts Receivable, Cost Allocations, Payroll and Fundraising.

Handles the complex reporting requirements of multi-funded organizations. Designed to maintain separate financial records for each program. User definable chart of accounts to define funds, cost center and accounts. Powerful reporting capabilities produce custom reports to meet all your fiscal requirements including multi-year reports, budgets and reports that comply with FASB 116 and 117.

All Products

No products found
Blackbaud Financial Edge NXT Screenshot

Blackbaud Financial Edge NXT

★★★★★
★★★★★
(14)
Blackbaud Financial Edge NXT is a total cloud accounting solution designed to meet the unique needs of nonprofits and government entities. Built on Blackbaud’s expertise and experience of over three decades, Blackbaud Financial Edge NXT delivers all the…
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Client OS
Web
Deployment
Cloud Hosted
MIP Fund Accounting Screenshot

MIP Fund Accounting

★★★★★
★★★★★
(9)
Gain More Time to Focus on Your Cause MIP Fund Accounting, formerly Abila MIP or Sage 100 MIP Fund Accounting, is a configurable fund accounting solution that allows you to report and track information that is most important to you, your board and your…
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Client OS
Windows
Deployment
Cloud or On-Premises
Tangicloud Screenshot

Tangicloud

Tangicloud is a complete fund accounting solution powered by Microsoft Dynamics 365 Business Central. Tangicloud Fundamentals helps you manage fund balancing, line allocations, approvals, budget control, and provides industry compliant reporting…
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$199/user/month
Client OS
Web
Deployment
Cloud Hosted
Sage Intacct Screenshot

Sage Intacct

★★★★★
★★★★★
(46)
Sage Intacct fund accounting manages and tracks funds and grants, increases productivity by automating manual processes, ensures appropriate stewardship of funds and donations, delivers real-time reporting and visibility to stakeholders, and manages…
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$8,580/year (Add $2,880 per extra user)
Client OS
Web
Deployment
Cloud Hosted
Aplos Fund Accounting Screenshot

Aplos Fund Accounting

★★★★★
★★★★★
(2)
Aplos means “simple” in Greek, and that’s exactly what this fund accounting software is designed to be. True fund accounting software allows you to easily apply contributions and gifts to specific funds or projects. Keep track of how close you are to…
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$59/month
Client OS
Web
Deployment
Cloud Hosted
QuickBooks Online Screenshot

QuickBooks Online

★★★★★
★★★★★
(31)
When using Fund Accounting in QuickBooks Online, you can use Class tracking and banking sub-accounts to track individual funds. When you enter fund transactions, you can select the appropriate fund in the class field for the income of expense line…
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$30/month (50% discount available)
Client OS
Web
Deployment
Cloud Hosted
FastFund Screenshot

FastFund

★★★★★
★★★★★
(21)
FastFund Nonprofit Software is a fully integrated fund accounting system designed by Certified Public Accountants. Affordable modules include General Ledger, Accounts Payable, Accounts Receivable, Cost Allocations, Payroll and Fund Raising. Handles the…
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$42/user/month
Client OS
Web
Deployment
Cloud or On-Premises
CenterPoint Fund Accounting for Nonprofits Screenshot

CenterPoint Fund Accounting for Nonprofits

★★★★★
★★★★★
(3)
Fund accounting for nonprofits with a price tag that won’t break your budget. CenterPoint Fund Accounting Software for Nonprofits is a versatile and affordable fund accounting and payroll software system that gives you the tools you need to take total…
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Client OS
Web, Windows
Deployment
Cloud Hosted
LOGOS Fund Accounting Screenshot

LOGOS Fund Accounting

LOGOS Fund Accounting software helps manage the organizational finances of your church, school, or nonprofit organization. The software provides all that you desire in a high-end fund accounting software along with the tools needed to run your everyday…
Client OS
Deployment
Cloud Hosted
Fund E-Z Fund Accounting Screenshot

Fund E-Z Fund Accounting

Fund EZ Fund Accounting is a simple, affordable nonprofit accounting software solution. The fund accounting capabilities do everything that standard bookkeeping software can’t do for you. FUND E-Z fund accounting is properly designed and well organized…
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$1,995 (perpetual license)
Client OS
Windows
Deployment
On-Premises
AccuFund Accounting Suite Screenshot

AccuFund Accounting Suite

★★★★★
★★★★★
(7)
Accounting software for non-profits, municipalities and other government agencies is the specialty of AccuFund. The AccuFund Accounting Suite is powerful, flexible and affordable financial reporting and accounting software designed specifically for…
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$2,995 (perpetual license)
Client OS
Windows
Deployment
Cloud or On-Premises
Denali Fund Screenshot

Denali Fund

★★★★★
★★★★★
(2)
A modulated nonprofit accounting software solution for small to large organizations, and CPAs who support these organizations. The nonprofit accounting solutions are used by The American Red Cross, Boys & Girls Club, Girl Scouts, United Way, YMCA and many…
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$1,999/user (perpetual license)
Client OS
Windows
Deployment
Cloud or On-Premises
Banyon Fund Accounting Screenshot

Banyon Fund Accounting

★★★★★
★★★★★
(3)
Banyon Fund Accounting will help your organization become more efficient by enhancing your budget tracking & reporting capabilities. The full featured base package includes: Payables, Receipts, General Ledger, Check Writing & Reconciliation, Budgets…
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$2,500 (perpetual license)
Client OS
Web, Windows
Deployment
Cloud or On-Premises
Serenic Navigator for NPO Screenshot

Serenic Navigator for NPO

★★★★★
★★★★★
(4)
Serenic Navigator for NPO is a comprehensive cloud ERP solution designed for non-profit organizations. As a Gold Microsoft Alliance partner for Enterprise Resource Planning, Serenic Software can help you effectively manage the financial affairs of your…
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$16,000 (perpetual license)
Client OS
Web, Windows
Deployment
Cloud or On-Premises
NonProfit+ Screenshot

NonProfit+

★★★★★
★★★★★
(2)
NonProfit+ (NonProfit Plus) is business management software engineered with nonprofits in mind. Delivered on the powerful Acumatica platform, NonProfit+ brings a new level of functionality that empowers organizations to efficiently manage their finances…
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$585/month
Client OS
Web
Deployment
Cloud Hosted
CYMA Not-for-Profit Edition Screenshot

CYMA Not-for-Profit Edition

Not-For-Profit organizations need an accounting software package designed for the specific nature of the nonprofit industry. Since 1980, thousands of nonprofit clients have depended on CYMA Not-For-Profit Accounting Software (NFP) for their financial…
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$8,000 (perpetual license)
Client OS
Windows
Deployment
On-Premises
Foundant Screenshot

Foundant

★★★★★
★★★★★
(3)
Foundant is an online fund accounting software that integrates with the rest of your operations. The solution meets the unique requirements for donor advised funds, agency funds, fiscal sponsorships, (un)restricted funds, endowment funds, designated…
Client OS
Web
Deployment
Cloud Hosted
MYOB Screenshot

MYOB

★★★★★
★★★★★
(2)
MYOB is a cloud-based accounting software that can record investment funds and larger/complicated transactions via their Accounts and Record Journal Entry feature. Asset accounts can be set up for funds as well as varying tax codes…
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$10/month
Client OS
Mac, Web, Windows, iOS, Android
Deployment
Cloud Hosted
NetSuite ERP Screenshot

NetSuite ERP

★★★★★
★★★★★
(19)
NetSuite offers real-time financial management for nonprofits. The fund accounting framework allows your nonprofit to manage diverse revenue streams, correlate fund sources to associated expense transactions, and efficiently manage fund restrictions…
Price Range
   $     $     $     $     $   
   $     $     $     $     $   
Starting Price
$99/user/month
Client OS
Web
Deployment
Cloud Hosted
Personal Allowance Manager Screenshot

Personal Allowance Manager

Personal Allowance Manager (PAM) is a cloud-based subscription service that fulfills your organization’s needs when it comes to both regulatory and accounting requirements. PAM focuses on monitoring personal expenditure planning (PEP), money management…
Client OS
Web
Deployment
Cloud Hosted

We searched and searched, but we couldn’t find any products in our database that match your criteria. Perhaps our team of software experts can help? They’d be happy to provide a list of free fund accounting software recommendations that meet your exact requirements.

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Russ Davidson
Last updated on February 2nd, 2022
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Fund Accounting Software Buyer’s Guide

  • What Is Fund Accounting Software?
  • Key Features
  • Why Use a Fund Accounting System?
  • What Does Your Organization Need?
  • Does QuickBooks Do Fund Accounting?
  • Market Trends

What Is Fund Accounting Software?

Fund accounting software is designed to enable improved allocation management of resources which have been designated for specific uses. A common application found within nonprofit accounting software, funds are a special type of accounting entity which provides a self-balancing set of accounts allowing the reservation of cash and non-cash assets for specific purposes or activities.

Fund accounting is most commonly used by nonprofits and government entities because these organizations need to track expenditures and balances across multiple funds and have them appropriated at certain times.

Cougar Mountain Denali FUND+Accounting
Denali Fund Accounting software offers NPOs a way to easily create, modify, and remove funds for an organization.

What are the Features of Fund Accounting Software?

  • Fund management: Gain a complete overview of your organizations finances, from cash flow to incoming donations and grants
  • Donation tracking and management: Keep tabs of donations and manage how those funds are allocated
  • Financial reporting: Create comprehensive reports on all company spending and analyze patterns on a quarterly or annual basis
  • Accounts payable: Accounts payable software provides the ledger and related functionality for managing money owed by an organization
  • Accounts receivable: Accounts receivable software provides the ledger and related functionality for managing money owed to an organization
  • General ledger: General ledger software functionality provides the ledger and related functionality for providing a complete record of the financial activity of an organization, including transactional records and account structures
Araize FastFund Journal Entry
FastFundis a nonprofit software designed by CPAs for strong accounting services.

Best Fund Accounting Software Benefits

A few of the most common benefits companies experience when utilizing fund accounting software include:

  • The ability to demonstrate responsible financial stewardship and application of funds to their intended purpose is often a prerequisite for accessing or continuing to access grants or endowments.
  • A way to track restrictions on the usage of funds, saving considerable time and labor costs compared to for-profit oriented software which may require another layer of reporting to simulate these kinds of accounting controls.
  • Time reductions enabled by fund accounting software usage can be turned into either payroll cost reductions or labor resources can be reapplied to tasks related to raising funds or delivering services.

Track Expenditures to Fund Sources

To start, a fund is a unit of financial organization with a self-balancing set of accounts designed to record cash and other assets together with related balances and liabilities. Fund accounting software provides the automated ability to create financial statements and balance sheets for each fund.

Organizations providing funds often require clear reports detailing how the money has been spent. Fund accounting software can create detailed reports designed for this purpose. By improving your ability to document the impact of previous expenditures, you can help promote your ability to receive future funding.

Industry-Specific Applications for NPO Operations

Just as there are accounting packages designed with manufacturers or retailers in mind, software developers have created fund accounting software to meet the specific accounting requirements of nonprofit and government organizations. Using software geared for commercial for-profit operations can lead to a number of issues for nonprofits and government entities.

While the profit motive may not be behind it in the case of nonprofits and government entities, every organization is looking to maximize their efficiency. Fund accounting software provides an accounting approach designed to eliminate time-intensive workarounds necessary to make standard commercial packages work.

Tighten Your Financial Management

Fund accounting software modules provide a number of inherent benefits. Donations, grants, and endowments are frequently provided to the non-profit organization with specific instructions on the usage of the funding. Tracking these financial assets in funds allows the non-profit organization to easily see how each dollar was spent. The results of failing to meet specific spending restrictions can have negative consequences, including discontinued funding.

The first step of meeting spending restrictions is knowing where every penny is allocated. For any government entity, GASB standards actually require that accounts are kept on a fund basis. Fund accounting software allows governments to track a variety of different funds including general/operations, special revenues, capital projects, debt services, permanent, fiduciary, and proprietary funds.

Aplos Fund Accounting Software
Aplos reports show details on income statements, balance sheets, and more.

What Does Your Organization Need?

Which type of fund accounting does your organization need? You may just need a solution that can handle the management of funds/grants, or you may need a complete accounting system that includes other back-end accounting functionalities like accounts payable and a general ledger.

New Buyers and Small Organizations

However, most end-users of entry-level fund accounting solutions will be start-up nonprofits, churches, and very small municipalities or local government organizations who are just trying to track a particular grant or comply with strict reporting guidelines for auditing.

For very small organizations, a complete accounting software may cover all the fund accounting functionality necessary, though a separate software may be best suited to fit the specific needs of a growing nonprofit organization.

Existing Users Desiring Expanded Functionality

Current users of fund accounting solutions may start looking to expand upon existing functionality as they grow. As you deal with more and more funds, you'll need strong IT support and security, which may not be offered with a basic package. These are all great reasons to take a deeper look into your software solution and see if it's meeting not just today's needs, but also tomorrows.

Large Organizations

Finally, larger organizations may have a handful of legal entities they are recording within their systems, or perhaps have dozens of programs, projects, locations, etc. all with their own funds for various causes that need to be managed. Simply put, organizations with a lot of funds likely will have even more as they continue to operate and will need a scalable solution to handle them.

CenterPoint Fund Accounting
CenterPoint Fund Accounting software is popular with mid-market and small businesses, but can be used by enterprise level organizations as well.

Does QuickBooks Do Fund Accounting?

QuickBooks is one of the most popular solutions for organizations with tight budgets, which rings true for many nonprofits and government organizations. QuickBooks does have nonprofit versions of their Desktop Enterprise solution, automating of fund and program accounting, and customization to create lists of members/donors and track budget by programs or funds.

Most Popular QuickBooks Replacement Products Among Non-Profit Organizations

Yet in a recent study conducted by our company, we found companies looking to replace QuickBooks and find a new nonprofit accounting solution were more likely to review the options listed above than any other nonprofit accounting solution.

The reason? QuickBooks falls short when it comes to "true" fund accounting, as what QuickBooks consists of is:

  1. Preparing an income statement for each fund
  2. Preparing a balance sheet for each fund
Fund Accounting Buyers Replacing QuickBooks
Many nonprofits and government organizations have opted to replace QuickBooks as their fund accounting software.

Trends in Fund Accounting Software

  • Replace outdated systems. Many government and nonprofit organizations operate with strict budgets and adopt "make do with what you have" ideologies, resulting in aged/dated systems. Yet 37% of potential buyers wanted to "replace a dated" system with new fund accounting software.
  • Differentiate between fund and grant management. Most for-profit businesses may use the terms "fund" and "grant" interchangeably, but it's not as simple as that for nonprofits. A grant is what a business would receive from the government while a fund is other money which has been set aside for a specific expenditure. Fund accounting software can keep the two types of funding separate.
  • Provide transparency. Most millennial donors want complete transparency of where their charitable funds are going. A nonprofit with software can effectively show where donated funds have been allocated to attract and retain more contributors.
  • Make decision making easier. An Aberdeen study found that 28% of business managers need data to make decisions in under an hour, and 42% of managers need data to make a decision within a day. In order to provide visibility among the vast amount of reports separate employees may be dealing with, dashboards become the way to shift ad hoc reporting to real-time reporting.
Fund accounting software purchase motivations
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