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audit, church, churches, inventory, nonprofit, nonprofits -

For many nonprofits, it is time to close the books for the year and humor the auditors. Don't you hate adjusting those entries for things you knew you should have caught before the auditors arrived. One of the easiest ways to catch these items is to print out your Statement of Financial Position (Balance Sheet) and look at the support for each of the items on it. For each cash account, look at the bank reconciliation and tie it to the balance on the Balance Sheet. While you have them out, take the time to look for checks that haven't...

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accountant beside you, church, churches, Desktop, donation, donor, donor statements, Quickbook Online, religious organization, tracking -

Wondering how to handle donations received for other organizations in QuickBooks? Many churches and other nonprofits collect money for other organizations like a food bank or Habitat for Humanity. Tracking these donations and assuring the payments are made to the receiving organization takes a few extra steps. First, you will want to set up an Item with Service as the type called Pass Through Donations (or something similar). It should be linked to an Income Account in the revenue area (Outreach or Pass Through Funding, perhaps). If you are receiving the donations through a fundraiser or cash not from a particular...

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Quickbook Online -

My latest book, Using QuickBooks for Nonprofit Organizations, Associations & Clubs has just been released. As the Accountant Beside You, I walk you through QuickBooks in a nonprofit organization from start to finish. Using a  friendly easy-to-understand style, and step-by-step instructions and screenshots, I'll guide new QuickBooks users every step of the way, while offering tips for how to make QuickBooks work better for even the experienced bookkeeper. I also cover what you need to know to implement controls and procedures to ensure that your money is always protected. The step-by-step instructions and hundreds of screen shots explain how to: Manage member dues, fundraisers, and...

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mission trips -

I've had several people ask about how to record the transactions relating to mission trips.  To help answer some of those questions, I recorded the following video (also under the Video Tutorial section).  But I left out explaining how to record a donation from someone who is not going on the trip for someone who is.  If the donation does not need to be kept under the donor's name, simply input it with the Customer Job name of the person going (this is ok for small amounts, but not acceptable if a donor acknowledgement is required). If the donation receipt...

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account numbers, accountant beside you, classes, items, Quickbook Online -

Several readers have asked for a bit more clarification regarding when to use classes versus adding new account numbers or items. So here are just a couple of points to remember. Account numbers are used to track revenues, expenditures, assets and liabilities to show on your financial statements. Items are used to identify the specific things you receive donations for or to track very specific expenses. They are used to bill your donors or members and to allocate expenses to programs and grants. For example, you may have items set up for three different types of donations which feed into...

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