How to Set Up Quickbooks Online for Nonprofits in 2024
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- čas přidán 6. 08. 2024
- Ready to Set up QuickBooks Online, the best nonprofit accounting software. This video provides a step-by-step guide on how to set up QuickBooks Online for nonprofits.
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Whether you're initiating a new account or optimizing an existing one, this tutorial covers all aspects of nonprofit accounting. Learn how to secure a discounted QuickBooks Online subscription through TechSoup, a nonprofit organization specializing in providing software at reduced rates. Gain essential insights into tailoring your account settings to accurately reflect your nonprofit status, from selecting the right company type to indicating your tax form and fiscal year.
Dive into the intricacies of nonprofit bookkeeping, starting with setting up a clean and organized chart of accounts. Learn how to align budgeting with your organization's goals and discover the power of integrating tools with QuickBooks Online for enhanced functionality. This tutorial goes beyond the basics, addressing essential tips and tricks for QuickBooks Online, making it suitable for both beginners and advanced users. Whether you're seeking QuickBooks for nonprofits or simply diving into nonprofit accounting 101, this video equips you with the knowledge to optimize QuickBooks Online for your nonprofit's financial success.
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00:00 Introduction and Setting Up QuickBooks Online Account
01:41 Setting Up Nonprofit Settings
03:25 Setting Up Tracking Methods
05:12 Setting Up Chart of Accounts
09:30 Setting Up Functional Expenses
10:21 Setting Up Locations and Funds
12:34 Setting Up Budgeting
13:47 Setting Up Reporting
• How to Set Up Quickboo...
Would really love a deeper dive on the set up of projects.
I have been looking for the information in this video for weeks, so glad I found you!!
Fiscal sponsorship tracking would be helpful
I love this! The idea of how to use classes and locations is so intuitive and makes so much sense. One thing I'd love to have some insight on is when a W-2 employee is paid using QuickBooks payroll, how do we then track the classes for program, admin, etc? Like, if we have a general 10% goes to a certain subclass and the rest is general/admin. That would be really helpful!
Very helpful- thank you!
Thank you
This video is sooo helpful.Thank you so much.
You are BOSS!!! and this is exactly what I need as I start a new position as treasurer for a nonprofit. Thank you so much for sharing your wisdom.
Can you speak more specifically about how to manage fiscal support that a non-profit provides to others for fiscal agency. You mentioned using tags to track that and I am intrigued.
Hello, I am working on setting up an account for my organization
Great video. What do you define as the difference between FUNDS and RESTRICTED GRANTS?
Hi do you have videos on showing how to go into the program and make the adjustments you suggested? Like where to go to set up the classes and locations. I tried to search for it but can't find it. Also can you show in the program how the chart of accounts should look instead of on a spreadsheet there are other columns I see in the program do I just ignore those?
Thank you for this video. I noticed that you use location to differentiate between restricted and unrestricted. I’m with a church that has several local chapters. I’m thinking that I need to use the location option to budget for each of those chapters. Is there another way to efficiently track restricted funds?
What is best practice for tracking scholarships? For instance, we receive donations for certain named scholarships and then hold the funds until someone applies for the scholarship and then we write the check to the applicant.
Can you give some advise on clergy in a 501c3 non profit... can we create an expense account and designate an amount for the pastor who uses it at his own discretion instead of paying him in a salary (items such as clothes, gas, food, etc)? We already have the housing allowance in place - which is great! What are some other ways to take advantage of tax free options we may not know about?
What is an affordably priced Non Profit QBO course that you can recommend? I am a QBO expert but I understand that the Non Profit part is very different. Thanks
If RESTRICTED GRANTS are PROJECTS, then how do we accrue the account? GAAP says to put the grant income on the balance sheet as deferred income. Then, a JNL will move the money used for that grant from the balance sheet to that project as income as it is used. That means that the ACCRUAL button and the CASH button on the report for the project are the same. I must be missing something.
What was it you use Products/Services for?
Do you have a how to document on how to change customers to donors?
Thank you.
Gear>Account and Settings>Advanced>Other Preferences>Customer drop-down
How much would you charge to set this up for someone?
What do you charge to set this all up for an existing baby organization? I’m so lost even with your basic explanation here
As my organization is not in US, so my organization is in eligible.
would it be wise to setup the main nonprofit programs as projects?
One of the struggles is, at this time, projects can only have income from one single donor/customer. It makes it hard to do that way.
We started with setting up our grants and contracts as "Donors" and then started using subdonors. Oof what a mess. Thinking we might use Donors to label our grants/contracts, but then using projects to track our years of each grant.contract?
Why did that end up as a mess? I am thinking about that way as well.