Introduction: Running a nonprofit organization involves managing finances efficiently to maximize impact. However, the cost of essential tools like accounting software can be a significant barrier for many nonprofits, especially those operating on tight budgets. Fortunately, platforms like TechSoup provide a lifeline by offering discounted or donated software solutions, including QuickBooks Online. In this blog post, we’ll explore how nonprofits can leverage TechSoup to afford QuickBooks Online and streamline their financial management processes.

Understanding TechSoup: TechSoup is a nonprofit organization that connects other nonprofits, charities, and libraries with discounted or donated software, hardware, and services from various technology companies. It partners with leading corporations like Microsoft, Adobe, and Intuit (the maker of QuickBooks) to offer affordable solutions to eligible organizations worldwide.

QuickBooks Online for Nonprofits: QuickBooks Online is a cloud-based accounting software designed to help businesses and nonprofits manage their finances effectively. It offers features such as expense tracking, invoicing, budgeting, and financial reporting, making it an invaluable tool for organizations of all sizes.

However, the standard subscription fees for QuickBooks Online might be prohibitive for many nonprofits, especially smaller ones with limited resources. This is where TechSoup comes in, providing eligible nonprofits with access to discounted or donated subscriptions, significantly reducing the financial burden.

Eligibility and Registration: To access discounted software through TechSoup, nonprofits need to meet certain eligibility criteria, such as being a registered charity or nonprofit organization. The process typically involves creating an account on the TechSoup website, verifying the organization’s eligibility status, and providing necessary documentation.

Once registered and approved, nonprofits can browse through TechSoup’s catalog of available software offerings, including QuickBooks Online. They can select the desired subscription plan based on their needs and budget, often at a fraction of the retail price. An example of this would be the QuickBooks Online Plus monthly Subscription which is currently costs $97.74; but through TechSoup, the nonprofit gets an annual subscription for $75.00 . That is savings of more than 90%, a significant impact for most organizations.

Benefits of QuickBooks Online for Nonprofits: Implementing QuickBooks Online through TechSoup offers several benefits to nonprofits:

1. Streamlined Financial Management: QuickBooks Online simplifies tasks like expense tracking, grant tracking, budgeting, and reporting, allowing nonprofits to efficiently manage their finances.
2. Remote Access: As a cloud-based solution, QuickBooks Online enables users to access financial data from anywhere, facilitating remote work and collaboration, which is particularly valuable in today’s digital landscape.
3. Cost Savings: By obtaining QuickBooks Online at a discounted rate through TechSoup, nonprofits can save money that can be redirected towards their mission-related activities.
4. Compliance and Transparency: QuickBooks Online helps nonprofits maintain accurate financial records, ensuring compliance with regulatory requirements and promoting transparency with donors and stakeholders.
5. Scalability: QuickBooks Online offers scalability, allowing nonprofits to adapt as their organization grows and their accounting needs evolve over time.

Conclusion: Managing finances effectively is crucial for the success and sustainability of nonprofit organizations. QuickBooks Online provides powerful tools to streamline financial processes, but the cost can be a barrier for many nonprofits. Through platforms like TechSoup, eligible organizations can access discounted or donated subscriptions, making essential software solutions like QuickBooks Online more affordable and accessible. By leveraging these resources, nonprofits can allocate more resources towards their mission-driven initiatives, ultimately making a greater impact in their communities.

Have any questions about accounting for your nonprofit organization? Schedule a free consultation to get expert advice.