ShelbyNext Financials
ShelbyNext Financials is a cloud-based church accounting software designed to help ministry leaders manage multi-fund accounting, payroll, and financial reporting with specialized compliance tools for non-profit organizations.
TaxBit
TaxBit is a specialized tax and accounting software providing automated compliance solutions for digital assets, cryptocurrencies, and equity compensation to help you manage complex reporting requirements accurately.
Quick Comparison
| Feature | ShelbyNext Financials | TaxBit |
|---|---|---|
| Website | shelbysystems.com | taxbit.com |
| Pricing Model | Custom | Freemium |
| Starting Price | Custom Pricing | Free |
| FREE Trial | ✘ No free trial | ✘ No free trial |
| Free Plan | ✘ No free plan | ✓ Has free plan |
| Product Demo | ✓ Request demo here | ✓ Request demo here |
| Deployment | ||
| Integrations | ||
| Target Users | ||
| Target Industries | ||
| Customer Count | 0 | 0 |
| Founded Year | 1976 | 2018 |
| Headquarters | Florence, USA | Draper, USA |
Overview
ShelbyNext Financials
ShelbyNext Financials gives you a dedicated accounting suite built specifically for the unique needs of churches and ministries. You can move away from generic business tools and manage your mission with true fund-based accounting that tracks every dollar across multiple departments or campuses. The platform ensures your ministry stays compliant with non-profit regulations while providing clear visibility into your financial health through automated reporting and real-time data syncing.
You can streamline your entire back-office operation by integrating your accounting directly with your giving and membership data. This eliminates manual data entry and reduces errors in your ledger. Whether you are managing a single local parish or a large multi-site ministry, you can customize the chart of accounts to fit your specific structure and generate the exact reports your board or elders need to see.
TaxBit
TaxBit provides you with a unified platform to manage the complexities of digital asset tax and accounting. Whether you are an individual investor, a high-growth enterprise, or a government entity, you can automate the data ingestion process across hundreds of sources to ensure your financial reporting remains compliant with evolving regulations. You can track your cost basis, calculate gains and losses, and generate tax forms with precision.
The platform bridges the gap between modern digital assets and traditional financial systems by providing real-time sub-ledger accounting. You can streamline your year-end reporting and reduce the manual effort required to reconcile high-volume transaction data. It is designed to handle everything from simple crypto trades to complex institutional custody and equity compensation plans.
Overview
ShelbyNext Financials Features
- True Fund Accounting Manage multiple restricted and unrestricted funds with ease to ensure every donation is used exactly as intended.
- General Ledger Maintain a flexible chart of accounts that mirrors your church structure for precise tracking of income and expenses.
- Payroll Management Process staff salaries and housing allowances correctly while staying compliant with unique clergy tax laws and regulations.
- Accounts Payable Automate your bill payments and track vendor history to keep your ministry operations running smoothly and on time.
- Bank Reconciliation Connect your bank accounts to automatically import transactions and reconcile your books with just a few clicks.
- Financial Reporting Generate professional statements of activities and financial position to share with your board or congregation instantly.
- Accounts Receivable Track miscellaneous income and manage invoices for church-run schools, daycares, or facility rentals in one place.
- Fixed Assets Track your ministry's physical property and equipment while automatically calculating depreciation for more accurate financial statements.
TaxBit Features
- Automated Data Sync. Connect your exchange accounts and wallets via API to automatically pull in every transaction without manual data entry.
- Real-Time Tax Tracking. Monitor your tax liability throughout the year so you can make informed trading decisions before the deadline hits.
- Cost Basis Tracking. Manage your cost basis across multiple platforms to ensure your capital gains and losses are calculated with pinpoint accuracy.
- Tax Loss Harvesting. Identify specific opportunities to sell assets at a loss and offset your gains to lower your overall tax bill.
- Institutional Accounting. Access a SOC-compliant sub-ledger that integrates with your existing ERP system for seamless enterprise-level financial reporting.
- IRS-Ready Forms. Generate completed IRS forms like 8949 and 1099-B with a single click to simplify your filing process.
Pricing Comparison
ShelbyNext Financials Pricing
TaxBit Pricing
- Unlimited transactions
- Connect unlimited sources
- Current year tax forms
- Basic portfolio tracking
- Standard support
- Everything in Free, plus:
- Tax loss harvesting tool
- Historical tax forms
- Portfolio performance analysis
- Priority customer support
- Advanced cost basis settings
Pros & Cons
ShelbyNext Financials
Pros
- Excellent compliance with specific non-profit and clergy tax laws
- Robust multi-fund tracking that generic software often lacks
- Seamless integration with ShelbyNext Membership and Giving modules
- Highly detailed audit trails for superior financial accountability
- Reliable cloud access for remote staff and treasurers
Cons
- Steep learning curve for users without accounting backgrounds
- Interface feels dated compared to modern consumer apps
- Initial setup and implementation can be time-consuming
TaxBit
Pros
- Excellent API coverage for major crypto exchanges
- User-friendly interface for non-accountants
- Accurate handling of complex DeFi transactions
- Helpful tax loss harvesting suggestions
- Reliable customer support during tax season
Cons
- Higher tiers are relatively expensive
- Occasional delays in syncing new tokens
- Limited features for very niche blockchains