QuickBooks for Nonprofits Free: A Comprehensive Guide
Using QuickBooks in non-profit organizations is a process that involves setting up and using the QuickBooks accounting software to manage the finances of a non-profit organization. Non-profit organizations rely on donations and grants to fund their operations, and QuickBooks can help them keep track of their income, expenses, and financial transactions.
Getting QuickBooks for Nonprofits Almost Free
Thanks to TechSoup, a charity that arranges free or discounted software for nonprofit organizations, you can get access to QuickBooks Online for almost free. This is an excellent choice for nonprofits with an annual revenue of more than $50,000.
Using QuickBooks Online offers various advantages, including:
Multi-user functionality, which allows multiple people to access and manage the financial records, reducing the burden on one person.
Online backup to ensure data is never lost.
The ability to email invoices and easily track who still owes money.
Creating reports to show how much money has been spent.
However, to avail of TechSoup's almost free program, you need to be a qualified nonprofit organization. This means nonprofits with 501(c)(3) tax exempt status and the letter from the IRS to prove it. You also need to re-subscribe each year, with TechSoup's renewal fee being very reasonable at $75/year. Without this offer, QuickBooks Online typically costs $80/month.
TechSoup also offers helpful videos to guide you if you find accounting software complicated or intimidating.
Advantages Of Using QuickBooks in Non-Profit Organizations
There are several advantages to using QuickBooks in non-profit organizations:
Improved financial management: QuickBooks allows non-profit organizations to track their income and expenses in real-time, which helps to improve financial management and decision-making.
Simplified accounting: QuickBooks provides an easy-to-use interface that simplifies the accounting process and reduces the time and effort required to manage financial records.
Enhanced reporting: QuickBooks provides a range of customizable financial reports that can help non-profit organizations track their financial performance and identify areas for improvement.
Donor management: QuickBooks allows non-profit organizations to track donations and donor information, which can be useful for thank-you letters, tax receipts, and other donor communication.
Budgeting and forecasting: QuickBooks includes budgeting and forecasting tools that can help non-profit organizations plan for the future and make informed financial decisions.
Integration with other software: QuickBooks can be easily integrated with other software, such as payment processors and fundraising platforms, which can help non-profit organizations streamline their operations.
How To Use QuickBooks in Non-Profit Organizations
Here are some steps you can follow to use QuickBooks in a non-profit organization:
Set up the company file for your non-profit organization. This will allow you to keep track of your financial records and transactions in QuickBooks.
Set up the chart of accounts for your non-profit organization. This will allow you to track your income and expenses in QuickBooks.
Set up the products and services for your non-profit organization. This will allow you to track your sales and income in QuickBooks.
Set up the vendors for your non-profit organization. This will allow you to track your purchases and expenses in QuickBooks.
Set up the customers for your non-profit organization. This will allow you to track your sales and income in QuickBooks.
Set up the employees for your non-profit organization. This will allow you to track your payroll and expenses in QuickBooks.
Set up the bank accounts for your non-profit organization. This will allow you to track your financial transactions in QuickBooks.
Set up the credit card accounts for your non-profit organization
Set up your non-profit organization in QuickBooks
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FAQ
How do I get QuickBooks for a nonprofit?
Nonprofits can purchase QuickBooks directly from Intuit. However, qualified nonprofits can also access a heavily discounted version of QuickBooks Online via TechSoup for a minimal annual fee.
Is there an online version of QuickBooks for nonprofits?
Yes, QuickBooks Online is available and recommended for nonprofits, especially those with revenues exceeding $50,000 a year.
What is the difference between QuickBooks and QuickBooks nonprofit?
QuickBooks Nonprofit is a version of QuickBooks specifically designed to meet the needs of nonprofits. It includes features like donation and grant management, which are not typically found in standard QuickBooks.
Can I get QuickBooks without a subscription?
QuickBooks Desktop can be purchased for a one-time fee, but it does not come with the online accessibility, multi-user access, or automatic updates provided by the subscription-based QuickBooks Online.
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