SBIR Accounting

Hi there, LanceT.

Thank you for visiting the QuickBooks Community. I'll be sharing how NSF SBIR works. Then, ensure you can perform alternative steps to handle your SBIR transactions.

The NSF SBIR program is designed to provide non-dilutive funding and entrepreneurial support at the earliest stages of company and technology development. That said, Intuit isn't currently SBIR compliant.

However, you have the option to create accounts in QuickBooks that you can use to organize and manage for SBIR. This helps you to track expenses, projects, and indirect costs.

Here's how to create account:

1. Go to Gear icon ⚙ and select Chart of accounts.
2. Click New. 
3. Select the Save account under the dropdown arrow so you can choose an account type. 
4. In the Tax form section ▼ dropdown, choose the detail type that best fits the transactions you want to track.
5. Enter a name in the Account name field. 
6. Enter a description in the Description field.
7. Enter an opening balance in the Account balance field.
8. Fill in the other necessary field. Then, click Save.

Then, I recommend consulting an accountant for additional assistance to ensure your records are in shipshape. They can provide details and advice on how to handle the transaction that will work in QBO similarly to SBIR data.

Lastly, I'm also adding this article to further guide you in effectively managing your business using QBO: Help guide for QuickBooks Online. It contains topics about accounting, banking, expenses, and payment to name a few.

Don't hesitate to click the Reply button below if you have other concerns related to QuickBooks. I'm always here to help and have a great day, LanceT.