Running QuickBooks in Nonprofits: 2nd Edition: The Only Comprehensive Guide for Nonprofits Using QuickBooks

Running QuickBooks in Nonprofits: 2nd Edition: The Only Comprehensive Guide for Nonprofits Using QuickBooks

Author: Kathy Ivens
Price: 36.95
ISBN: 978-1932925302
512 pages


Click here for an excerpt from Running QuickBooks in Nonprofits.

This QuickBooks book provides information about using QuickBooks to track financial data in nonprofit organizations. It covers QuickBooks Pro as well as QuickBooks Premier Nonprofit Edition. This is not a beginner’s book in QuickBooks; the author assumes that the reader is already using QuickBooks, although the text is written to accommodate users that are not experts.

Because QuickBooks is so easy to use and so inexpensive, many nonprofit organizations have adopted it for financial record keeping. However, QuickBooks isn’t really designed for the special bookkeeping functions required for nonprofit accounting. Even QuickBooks Premier Nonprofit edition isn’t a solution, because the software wasn’t rewritten to accommodate all the needs of nonprofit accounting.

There are a wide variety of workarounds (including add-on software) aimed at making QuickBooks work properly for nonprofits. Most of them don’t work well, are too complex to be efficient (even for experienced QuickBooks users), and some don’t really work at all. As a result, most nonprofit organizations have to spend extra money to have accounting professionals create reports from their QuickBooks data. The goal of this book is to help you understand how to set up QuickBooks for nonprofit accounting, make it easier to create transactions properly, and reduce the amount of money you spend on fixing your accounting records.

Lastly, most books from computer publishers have an Appendix that is usually filled with technical or incidental information. In this QuickBooks book, the Appendix is incredibly important. Read it first. Share it with the director of the nonprofit for which you perform bookkeeping tasks. Also share it with the Board of Directors.

Brief Table of Contents for Running QuickBooks in Nonprofits: 2nd Edition

Chapter 1: QuickBooks Limitations for Nonprofits


Chart of Accounts Limitations

Accounting Limitations

Report Limitations

Other (Minor) Annoyances


Chapter 2: Getting Started


Gathering Financial Information

Creating a Company File

Updating an Existing Company File 

Chapter 3: Chart of Accounts


Designing the Chart of Accounts

Creating Accounts

Manipulating Accounts

Unified Chart of Accounts for Nonprofits

Entering Opening Balances

Equity Accounts 


Chapter 4: Configuring Preferences


Accounting Preferences

Checking Preferences

Desktop View Preferences

General Preferences

Jobs & Estimates Preferences

Tax 1099 Preferences

Time & Expenses Preferences

Chapter 5: Configuring Classes and Lists



Creating Lists

Adding Custom Fields to Lists

Reports Based on Custom Fields


 Chapter 6: Managing Revenue


Understanding Types of Revenue

Entering Direct Donations

Donations that need Special Handling

Accounts Receivable (A/R)

Invoices and Pledges

Sending Invoices in a Batch

Invoicing for Reimbursable Expenses

Giving Credits to Donors

Receiving Payments on Invoices

Making Bank Deposits

Customizing Templates

Reporting on Receivables

Chapter 7: Managing Expenses


Accrual Vs. Cash Expense Tracking

Entering Bills

Entering Vendor Credits

Paying Bills

Using Direct Disbursements

Tracking Payroll Expenses

Allocating Overhead to Programs and Grants

Tracking Internal Costs 


Chapter 8: Managing Bank Accounts and Cash


Transferring Funds Between Accounts

Handling Bounced Checks

Voiding Disbursements

Reconciling Bank Accounts

Managing Bank Accounts With Co-mingled Funds

Tracking Petty Cash

Managing Employee Expense Accounts 

Chapter 9: Budgets and Projections


QuickBooks’ Rules for Budgets

About Balance Sheet Budgets

Creating a P&L Budget

Creating a Customer:Job Budget

Creating Additional Customer:Job Budgets

Creating Class Budgets

Deleting a Budget Budget Reports

Exporting and Importing Budgets

Projecting Cash Flow

Cash Flow Reports 


Chapter 10: Producing Reports


Reports for Nonprofits

Standard Financial Reports 

Chapter 11: Year End Activities


Year-end Journal Entries

Managing Net Asset Accounts

Year End Reports

Tasks for Your Accountant

Closing the Year

Contribution Acknowledgement Letters 


Chapter 12: Audits


Nonprofit Audit Rules

Audit Activities and Tasks

Board Responsibilities 

Chapter 13: Managing QuickBooks Files


Using QuickBooks Backup

Updating QuickBooks 


Chapter 14: Managing Users and Security


QuickBooks Passwords

The QuickBooks Administrator

Creating Users

Changing Your Own Password 

Chapter 15: QuickBooks Fundraising Tools


QuickBooks File Limitations

Managing Members

Tracking Donations

Creating Fundraising Mailings

Managing Volunteers

Tracking Fundraising Activities 


Chapter 16: In-Kind (Non-Cash) Revenue


Policies for In-Kind Donations

Types of In-Kind Donations

Acknowledging In-Kind Donations

Tracking In-Kind Transactions in QuickBooks

Creating In-Kind Transactions

In-Kind Services

Appendix A: Nonprofit Accounting Issues


Basic Nonprofit Accounting Principles

Nonprofit Bookkeeper Responsibilities

Understanding Nonprofit Transactions

Rules, Regulations, and Standards

Board Responsibilities

Accounting Controls and Procedures