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prince-sf-essel-
Level 1
posted
‎May 16, 2022 01:44 AM
last updated ‎May 16, 2022 1:44 AM

Can I manage my donor funded project account using QuickBooks?

I have had a lot of experience working with For-Profit Organisations. I recently had an opportunity to work with a not-for-profit organisation, and need to set up the financial reporting module using QuickBooks.
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2 Comments 2
Fiat Lux - ASIA
Level 15
‎May 16, 2022 01:53 AM

Can I manage my donor funded project account using QuickBooks?

You can purchase and use the one time license for QB Desktop 2021 US Premier edition for Non Profit. Another option, you can use QB Online Plus to have the projects feature.

https://quickbooks.grsm.io/EU

 

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JonpriL
Moderator
Moderator
‎May 16, 2022 03:30 AM

Can I manage my donor funded project account using QuickBooks?

Hi there, @prince-sf-essel-.

 

I'll help share a few insights about how QuickBooks Online works for a not-for-profit organisation.

 

By design, QuickBooks Online (QBO) is program-ready accounting software that provides financial reporting modules for a non-profit organisation. In a few clicks, it'll prepare your company and the needed accounts.

 

  1. Go to the Gear icon.
  2. Select Accounts and settings.
  3. Under the Company section, select the Pencil icon on the Company type menu.
  4. On the Tax form menu, select Nonprofit organization (Form 990).
  5. Select Save.
  6. Under the Advanced section, select the Pencil icon on the Other preferences menu.
  7. Choose Donors for customer label.
  8. Select Save.
  9. Click Done.

 

Kindly read this article to learn more about how to configure an account for a non-profit organisation: How to Update your QuickBooks Online Account for a Nonprofit Organization?

 

Now you're able to track donor-funded projects in QBO. Use this article to learn more about the ways to enter them into your account: Track Funds you Receive from Donors in QuickBooks Online.

 

Aside from changing your account to a non-profit organization and tracking funds from your donors, here is also a reference showing all the reports needed to display your revenue, expenses, and other financial activity: Run and Customise Reports in QuickBooks Online.

 

If there's anything else that I can help you with aside from tracking funds for a non-profit organisation in QuickBooks, please let me know by leaving a comment below. I'll be around and ready to lend a hand. Take care always, @prince-sf-essel-!

 

Disclaimer: You may notice the first three articles are for customers in the United States since references for a non-profit organisation have not been made ready for customers using the Global version of QuickBooks.

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