This podcast is based on the content on my YouTube channel.
I will be discussing different ways nonprofit bookkeepers can use QuickBooks online to maintain the books of a non-profit organization.
I will also discuss the basics of non-profit accounting as it relates to non-profit bookkeeping.
Knowing how to utilize QuickBooks online alone without understanding basic non-profit accounting can pose some challenges when trying to correct errors or evaluate reports.
Fixing Current & Prior Donor Deposits
Youtube Video https://youtu.be/XCS7Lk7Eots
https://nonprofitaccountingservice.com/ (404) 300-3175 firstname.lastname@example.org
Hi everyone and welcome to another demo video.
In this video, I’m going to be demonstrating how to correct a donation that was entered on the deposit screen and therefore isn’t showing up on the sales by donor detail report
It’s important that the sales by donor detail report is accurate because this is the report that you use to create your quarterly and year-end donor acknowledgment letters. And as you know, donors want to be able to report 100% of their total donations.
I’m going to show you how to fix this issue based on 2 separate scenarios. In scenario one, the bank statement that shows the donations has not yet been reconciled therefore, the incorrect transaction can be deleted or voided.
In scenario two, the bank statement has been reconciled and therefore, you can’t void nor delete the transaction because you’ll be throwing your prior period reconciliation out of balance.
So let’s start with scenario one.
Rules vs. Recurring Transactions For Non-Profits!
1) Hi everyone and welcome back. I know been a while but here I am
2) On today's podcast I’m going to be going over the difference between rules and recurring transactions and when to use each one
3) This episode is also going to part of a youtube video so if you are more of a visual person, I suggest you follow me over to youtube by clicking this linkhttps://youtu.be/njAoT9_Tbj0 to watch the video, otherwise you can just listen to the demonstration here.
Click the link below if your organization needs help with your QuickBooks online set up or any other accounting needs.
How To Record Pass-Through Contributions in QuickBooks Online
Hello again everyone and welcome back to the podcast.
Today's show is going to be a combination of this podcast and a YouTube video demonstrating what I'll be discussing today.
The topic of discussion today is how to correctly record pass-through contributions in QuickBooks online.
So what's a pass-through contribution?
A pass-through contribution is a contribution made to one non-profit entity (referred to as the recipient), who then transfers the funds to a second non-profit organization called the beneficiary).
This type of transaction is referred to as an "agency" transaction.
In some cases, a non-profit may collect funds from its members in an agreement to use the money collected to purchase a particular agreed-upon item
So whether a non-profit receives a contribution that it intends to pass on to another organization or if it collects money from its members with the intention of purchasing an agreed-upon item, the way the transaction is recorded in QuickBooks under either scenario is the same.
My Youtube Channel
Is QuickBooks Online The Right Fit For My Non-Profit Organization?
In this first episode, I discuss matters that help non-profit bookkeepers decide whether QuickBooks online is the right fit for their organization or their clients.
There are some limitations when using QuickBooks online. Still, the purpose of this podcast series is to discuss some of the workarounds that will help you conform QuickBooks online around you and your organization's needs.
Although QuickBooks online is not designed explicitly for non-profits, it works up to the point that it is acceptable to most organizations. As most of you may know, QuickBooks online itself is not necessarily designed for non-profits, but that's not to say it can't be used for non-profits because it can.
You just need to understand the software's limitations and know whether the built-in features and workarounds are acceptable to your non-profit.
There are four QuickBooks Online (QBO) subscription levels: Simple Start, Essentials, Plus, and Advanced. Payroll and merchant services can be added to any of the subscription levels, so if you have employees, and you accept credit cards, you can achieve both with any of the subscriptions.
But there is one thing that you MUST take into consideration when choosing the right subscription. Because the Plus and Advanced subscription levels are the only ones that have the "Class Feature," I do not recommend non-profits subscribe to either the Simple Start or the Essentials version. As a non-profit, the class feature is a feature that you must have. This feature is what will help you break your organization's transaction into programs and programs is what non-profits are all about.
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The Theme of The Show
My name is Desarie Anderson and I’m a Certified Public Accountant that specializes in nonprofit bookkeeping and accounting.
My new podcast is based on the content of my YouTube channel.
This podcast was created for nonprofit bookkeepers and accountants. As nonprofit financial professionals, we know that bookkeeping and accounting in the nonprofit world is vastly different than it is in the for-profit world and because of that there are certain bookkeeping and accounting rules and terminology that we must know in order to properly serve our clients or our employer if you are professional that works for a single organization.
Although there are a few different accounting and bookkeeping software that accountants can use when working with nonprofits, in this podcast, I will focus on how nonprofit bookkeepers and accountants can use QuickBooks online to organize and maintain the books of a non-profit organization.
I will also delve a little bit into the basics of non-profit accounting as it relates to non-profit bookkeeping because knowing how to utilize QuickBooks online alone without understanding basic non-profit accounting can pose some challenges when trying to correct errors or evaluate nonprofit record. So if you want to become a kick-ass not profit bookkeeping professional you really do need to understand some basic accounting principles this is what is going to elevate you above the bookkeeper that just knows how to record transactions in QuickBooks Online.