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Quickbooks DesktopPro Non- Profit

  • Manage donations and grants in one place.

  • Generate reports specific to non-profits.

  • Create and track budgets for programs.

  • Collaborate with your team remotely

  • Integrate with popular fundraising platforms.

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QuickBooks Pro for Nonprofits: Streamlining Your Financial Management

For non-profit organizations, efficient financial management is crucial. Donors and funders expect transparency and accountability, and you need to effectively track your income and expenses to ensure your mission is fulfilled. QuickBooks Pro can be a valuable tool in achieving this.

This comprehensive guide explores QuickBooks Pro, highlighting its features specifically beneficial for non-profits, and compares it to the alternative QuickBooks Pro Online version.

 

What is QuickBooks Pro?

QuickBooks Pro is a desktop accounting software program developed by Intuit. It caters to small and mid-sized businesses, including non-profit organizations. QuickBooks Pro offers a wide range of features to streamline financial tasks like:

  • Income and expense tracking: Categorize your donations, grants, membership fees, program expenses, and administrative costs.

  • Fund accounting: Allocate funds to specific programs or grants, ensuring funds are used accordingly.

  • Reporting: Generate customizable financial reports, including profit and loss statements, balance sheets, and donor reports.

  • Budgeting: Create budgets to plan your spending and track progress towards your financial goals.

  • Bill pay: Pay bills electronically and manage your cash flow.

  • Invoicing: Create and send invoices for any fees your organization charges.

Why Consider QuickBooks Pro for Your Nonprofit?

Here's how QuickBooks Pro addresses the specific needs of non-profit organizations:

  • Fund Accounting: Non-profits manage restricted funds donated for specific purposes. QuickBooks Pro allows you to track these funds separately, ensuring compliance with donor restrictions.

  • Grant Management: Track grant income and expenses associated with each grant. Generate reports required by grantors.

  • Donor Management: Store donor information, including contact details, donation history, and communication preferences. Create reports to analyze donor trends and identify major contributors.

  • Customizable Reporting: Generate reports tailored to your organization's needs. This could include reports on specific programs, fundraising campaigns, or donor demographics.

QuickBooks Pro vs QuickBooks Pro Online

Intuit offers QuickBooks Pro in two versions: Desktop and Online. Here's a breakdown of the key differences:

Feature
QuickBooks Pro Desktop
QuickBooks Online
Pricing
One Time for Pro Version and Annual for Plus Version
Monthly Subscription
Data Security
Back up your data yourself
Data stored securely on Intuit's servers
Multiple Users
Up to 3 users (additional user licenses required)
Up to 30 users (depending on subscription plan)
Accessibility
Offline access
Requires internet connection
Installation
Installed on your computer
Accessed through a web browser

Choosing Between Desktop and Online:

  • Desktop: Ideal for organizations who prefer having their data stored locally and don't rely on multiple users accessing the software simultaneously.

  • Online: Suited for organizations needing multiple users to access the software from different locations. Also beneficial for those comfortable with cloud-based solutions.

 

Getting Started with QuickBooks Pro

If you decide QuickBooks Pro is right for your non-profit, here are the next steps:

  1. Purchase and Install: You can purchase QuickBooks Pro Desktop from Intuit's website or authorized retailers. Download and install the software on your computer.

  2. Set Up Your Account: Configure your organization's settings, including chart of accounts, fiscal year, and fund types.

  3. Import Data: If you have existing financial data, you can import it into QuickBooks Pro.

  4. Learn the Software: Intuit offers a variety of resources to help you learn QuickBooks Pro, including tutorials, online courses, and support articles.

Additional Resources:

 

Please Note : 

This guide is not a substitute for professional accounting advice. Consult with a qualified accountant to ensure your non-profit's financial reporting meets all regulatory requirements and adheres to best practices. They can help you choose the most appropriate accounting software for your organization's needs and set up a chart of accounts optimized for non-profit accounting.

Streamlining Non-Profit Finances: A Step-by-Step Guide to Setting Up QuickBooks Pro with Detailed Navigation

For non-profit organizations, maintaining transparent and accountable finances is paramount. Effectively tracking donations, grants, and program expenses is crucial to ensure your mission thrives. QuickBooks Pro can be a powerful tool to achieve this, offering features specifically designed to simplify non-profit accounting.

This comprehensive guide walks you through setting up QuickBooks Pro for your non-profit, highlighting key considerations, step-by-step instructions, and detailed navigation within the software.

Before You Begin: Understanding Your Needs

  • QuickBooks Pro vs. QuickBooks Pro Online:

    • Desktop: Ideal for storing data locally and having limited users (up to 3 users with the base version, additional user licenses can be purchased).

    • Online: Suited for multiple users accessing the software remotely and those comfortable with cloud-based solutions (up to 30 users depending on the subscription plan).

  • Non-Profit Discounts:

       While QuickBooks Pro itself doesn't have a specific non-profit discount, Intuit partners with TechSoup to offer           discounted QuickBooks Online Plus and Advanced subscriptions.

  • Choosing the Right Version:

       Consider your organization's size, data security preferences, and number of users who will need access to the            software.

Step-by-Step Guide to Setting Up QuickBooks Pro for Your Non-Profit

Navigation: Throughout this guide, we'll use the following format to navigate within QuickBooks Pro: Menu > Submenu > Option

  1. Purchase and Installation:

    • Purchase QuickBooks Pro Desktop from the Intuit website or authorized retailers.

    • Download and install the software on your computer.

  2. Company Set Up (Company Menu):

    • Company Information: Go to Company menu > Create Company. Enter your non-profit's legal name, address, and contact details.

    • Chart of Accounts (Lists Menu): Navigate to Lists menu > Chart of Accounts. Utilize a chart of accounts specifically designed for non-profit organizations. You can import sample non-profit charts of accounts or customize them based on your needs.

    • Tax Form Selection (Company Menu): Go to Company menu > Company Information. Under the Company Type section, change the tax form to "Nonprofit organization (Form 990)".

    • Customer Preferences (Edit Menu): Go to Edit menu > Preferences. Under the Lists tab, rename "Customers" to "Donors" within the Customer & Job section.

  3. Setting Up Fund Accounting (Lists Menu):

    • Go to Lists menu > Chart of Accounts. Create separate accounts for each fund you manage. You can use the Account Type field to designate them as "Other Current Liabilities" and name them accordingly (e.g., "Fund for Educational Programs").

  4. Customizing Reports (Reports Menu):

    • QuickBooks Pro offers a variety of reports under the Reports menu. While there aren't non-profit specific reports, you can customize them to your organization's needs.

      • Statement of Activities (Reports Menu > Profit & Loss): Use the Filters section to group income and expenses by fund, program, or grant. You can also customize the Columns to include relevant information.

      • Donor Detail Reports (Reports Menu > Customers & Receivables): Navigate to the Customer Detail report and utilize the Filters section to view specific donors and their donation history.

      • Grant Detail Reports (Reports Menu > Vendors & Payables): Go to the Vendor Detail report. Use the Filters section to view transactions associated with a specific grant and customize Columns for relevant details.

      • Fund Balance Reports (Reports Menu > Balances): Utilize the Accounts Receivable Aging Detail report. Filter by the specific fund account to see the current balance.

  5. Data Import (Optional - File Menu):

    • If you have existing financial data from another system, you can import it into QuickBooks Pro. Go to File menu > Import and choose the appropriate file format for your data. Intuit offers resources and tools to assist with data import on their website.

 

Additional Tips:

  • Class Tracking (Lists Menu): Utilize QuickBooks Pro's Classes feature under Lists menu. Create classes to track additional information about your transactions. For example, you can create a class for each fundraising campaign.

  • Memorized Reports (Reports Menu): Once you've customized a report to your liking, navigate to the Memorize menu within the report window and select Memorize Report. Assign a descriptive name for easy access in the future.

  • Advanced Navigation:

  • Custom Fields (Lists Menu): For even greater detail in your data tracking, consider using Custom Fields. Go to Lists menu > Custom Fields. Here you can create fields specific to your non-profit's needs, such as grant proposal number or donation type. These custom fields can then be added to relevant transactions.

  • Filters (Within Most Reports): Most reports in QuickBooks Pro offer a Filters section. This allows you to narrow down the data displayed in the report based on various criteria. For example, in the Customer Detail report (focusing on donors), you can use filters to view donations made within a specific date range or from a particular donor category.

  • Search Function (Edit Menu): The Search function located under the Edit menu allows you to search for specific transactions, accounts, or invoices throughout QuickBooks Pro.

  • Beyond the Basics: Resources for Non-Profit Accounting with QuickBooks Pro

  • Intuit Support: The Intuit website offers a wealth of resources specific to using QuickBooks Pro for non-profit organizations: https://quickbooks.intuit.com/learn-support/en-us/help-article/account-management/quickbooks-online-support/L6WqNrDq0_US_en_US

  • QuickBooks Pro Training: Consider professional training to maximize your use of QuickBooks Pro's features for non-profit accounting: https://quickbooks.intuit.com/accountants/training-certification/

  • Important Note:

  • While QuickBooks Pro is a powerful tool, it may not encompass all the specialized features found in accounting software designed specifically for non-profits. For complex accounting needs or organizations with extensive grant management requirements, consulting with a qualified accountant familiar with non-profit accounting is recommended. They can advise on the most suitable accounting software solution for your organization.

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