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Using QuickBooks at Your OrganizationMarch 2011Audio is only available by calling this number:Conference Call: 866-740-1260; Access Code: 6339392
Sponsored by
Using QuickBooks at Your OrganizationConference Call: 866-740-1260 Access Code: 6339392
Using ReadyTalk
• Chat & raise hand • All lines are muted• If you lose your
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• If you lose your phone connection, re-dial the phone number and re-join.
• ReadyTalk support: 800-843-9166
Using QuickBooks at Your OrganizationConference Call: 866-740-1260 Access Code: 6339392
You are being recorded…
• Streaming into Second Life• This seminar will be available on the
TechSoup website along with past webinar presentations:– www.techsoup.org/go/webinars
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Using QuickBooks at Your OrganizationPresenters: Mark McCallick and Woody Adams
Sponsored by
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License.
Using QuickBooks at Your OrganizationConference Call: 866-740-1260 Access Code: 6339392
We are working toward a time when every nonprofit and social benefit organization on the planet has the technology resources
and knowledge they need to operate at their full potential.
Using QuickBooks at Your OrganizationConference Call: 866-740-1260 Access Code: 6339392
Using QuickBooks at Your OrganizationConference Call: 866-740-1260 Access Code: 6339392
Today’s Speakers
Mark McCallickCPA and QuickBooks Pro
Advisor, McCallick Accounting and Consulting
Facilitator: Becky Wiegand, TechSoup GlobalAssisting with chat questions: Elliot Harmon and Cameron Jones, TechSoup Global
Woody AdamsQuickBooks Product
Specialist, Intuit
Using QuickBooks at Your OrganizationConference Call: 866-740-1260 Access Code: 6339392
Agenda
• Six Steps for Configuring QuickBooks for Your Organization
• Features in QuickBooks 2011• Premier or Pro?• Intuit Donation Program• Q&A • Additional Resources
Using QuickBooks at Your OrganizationConference Call: 866-740-1260 Access Code: 6339392
Configuring QuickBooks for Use in a Nonprofit
flickr.com/photos/bjmccray
Using QuickBooks at Your OrganizationConference Call: 866-740-1260 Access Code: 6339392
Step 1 of 6 - Planning and Implementation…
– Webinar is a summary of my blog posts that can be found on http://blog.techsoup.org/blog/167
– “Begin with the end in mind” when implementing a new accounting system.
– This is principle that all things are created twice. There’s a mental or first creation, and a physical or second creation to all things. This concept is explained in The Seven Habits of Highly Effective People by Stephen R. Covey.
Using QuickBooks at Your OrganizationConference Call: 866-740-1260 Access Code: 6339392
Meet with Stakeholders First
flickr.com/photos/twowest
Using QuickBooks at Your OrganizationConference Call: 866-740-1260 Access Code: 6339392
STEP 1 of 6 - Planning and Implementation (cont)
QuickBooks Implementation Questionnaire(a sample questionnaire is included in resources)• What is the nonprofit’s mission?• What programs do we offer (not who funds us – but what service or
product do we provide or produce – what do we “do”)?• What are our sources of revenue?
– Grantors– Corporate Donations– Individual Donations– Program Income (fees for services)– Foundations– Special Events
• What types of reports are required for all users? Bring samples.• What does the nonprofit’s chart of accounts currently look like?
Using QuickBooks at Your OrganizationConference Call: 866-740-1260 Access Code: 6339392
STEP 2 of 6 - Setting Up the Chart of Accounts
• See second post: http://blog.techsoup.org/node/1473 for details on setting up your chart
• Results of implementation meeting will help define your balance sheet and income statement accounts.
• The QuickBooks Premiere edition (available through TechSoup donation program) has a sample nonprofit database. Review the sample chart of accounts for assistance.
Using QuickBooks at Your OrganizationConference Call: 866-740-1260 Access Code: 6339392
• Unified Chart of Accounts Toolkit is a zipped file containing the QuickBooks chart of accounts files and Excel spreadsheets for working with the “Unified Chart of Accounts.”
• This toolkit gives you the ability to restore a sample QuickBooks database (most organizations with at least the 2007 version of QuickBooks should be able to restore and open this sample database).
STEP 2 of 6 - Setting Up the Chart of Accounts
Using QuickBooks at Your OrganizationConference Call: 866-740-1260 Access Code: 6339392
STEP 3 – Setting Up “Customer/Job”
The “Customer/Jobs” utility should be used to keep track of your nonprofit’s funding sources.
• AT&T Foundation (This is a QuickBooks ‘Customer”) – 2010 AT&T Foundation Grant (This is a QuickBooks “Job”)– 2011 AT&T Foundation Grant
• National Endowment for the Humanities– 2010 NEH Grant– 2011 NEH Grant
• XYZ Foundation – 2011 XYZ Foundation Grant
Using QuickBooks at Your OrganizationConference Call: 866-740-1260 Access Code: 6339392
He is your “Customer.”
This is your “Job.”
flickr.com/photos/calsagtrail
Using QuickBooks at Your OrganizationConference Call: 866-740-1260 Access Code: 6339392
STEP 4 – Setting Up the QuickBooks “Classes”
The QuickBooks “Class” utility should be used to manage and report on your nonprofit’s programs.
A sample listing of “Programs” for a nonprofit:• General• Elder Day Care• Soup Kitchen• Youth Program• 2009 5K Run• 2009 GALA
Using QuickBooks at Your OrganizationConference Call: 866-740-1260 Access Code: 6339392
flickr.com/photos/jeremywilburn
flickr.com/photos/reportersphotos
flickr.com/photos/thepointeatkilpatrick
Using QuickBooks at Your OrganizationConference Call: 866-740-1260 Access Code: 6339392
STEP 5 – Coding Transactions with QuickBooks “Customer/Job” and “Classes” Utilities
In our QuickBooks solution, every transaction in anonprofit needs to have three database flags
appended to it.
This creates the ability to report:1. financial information combined2. funding source3. by program
Using QuickBooks at Your OrganizationConference Call: 866-740-1260 Access Code: 6339392
STEP 5 – Coding Transactions with QuickBooks “Customer/Job” and “Classes” Utilities
07/14/2010 20
Database flags appended to
each cash receipt, disbursement,
journal entry, etc,
Using QuickBooks at Your OrganizationConference Call: 866-740-1260 Access Code: 6339392
STEP 6 - Creating Financial Reports
If your QuickBooks system is set up correctly and you have procedures to properly code financial transactions, you can use standard Profit & Loss reports in QuickBooks as follows:
• Profit & Loss Standard (Used to report on the nonprofit on a high level “combined” basis)
• Profit & Loss by Class (P&L by program)• Profit & Loss by Job (P&L by funding source)• Budget vs Actual (Budget vs Actual on combined basis)• Budget vs Actual by Class (Budget vs Actual by program)• Budget vs Actual by Job (Budget vs Actual by job)
All of these reports are standard in QuickBooks.
Using QuickBooks at Your OrganizationConference Call: 866-740-1260 Access Code: 6339392
What’s New in QuickBooks 2011?(and what are the differences between Premier and Pro?)
VS.
Using QuickBooks at Your OrganizationConference Call: 866-740-1260 Access Code: 6339392
Key Features in QuickBooks Premier (Not in QB Pro)
Using QuickBooks at Your OrganizationConference Call: 866-740-1260 Access Code: 6339392
New Features in QuickBooks 2011
Using QuickBooks at Your OrganizationConference Call: 866-740-1260 Access Code: 6339392
New Features in QuickBooks 2011
• TBD
Using QuickBooks at Your OrganizationConference Call: 866-740-1260 Access Code: 6339392
Donated QuickBooks 2011 Through TechSoup
QuickBooks Premier 2011 1-user ($45 Admin Fee) QuickBooks Premier 2011 3-
user ($99 Admin Fee)QuickBooks for Mac 2011
($25 Admin Fee)
http://home.techsoup.org/Stock/Pages/Category.aspx?category=IntuitManage
Using QuickBooks at Your OrganizationConference Call: 866-740-1260 Access Code: 6339392
Intuit’s Donation Program Through TechSoup
• Intuit donates:– QuickBooks Premier 2011 1-user ($45)– QuickBooks Premier 2011 3-user ($99)– QuickBooks for Mac 2011 ($25)
• Can request 1 QuickBooks accounting product/year (July 1 – June 30)
• Available to 501(c)(3) nonprofits and public libraries with an operating budget of $3 million or less
• Also available:– Learning QuickBooks (coming soon)– Various QuickBooks 2010 (coming soon to TechSoup Limited
program)– QB Point Of Sale Basic 8.0– Customer Manager 2.5– Learning Accounting Essentials (basic accounting principals)
• Join TechSoup to access these donations!
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Questions?
Submit your questions using the chat box.
Using QuickBooks at Your OrganizationConference Call: 866-740-1260 Access Code: 6339392
Resources for Setting Up QuickBooks
• QuickBooks Donations Through TechSoup http://home.techsoup.org/Stock/Pages/Category.aspx?category=IntuitManage
• “Configuring QuickBooks for Nonprofits” blog series by Mark McCallick: http://blog.techsoup.org/blog/167
• Running QuickBooks in Nonprofits – by Kathy Ivens http://www.amazon.com/Running-QuickBooks-Nonprofits-Comprehensive-Guide/dp/0972066985 )
• Mastering QuickBooks for Nonprofits – by Real World Training www.realworldtraining.com
• Take the tutorials in your QuickBooks software! Run the sample nonprofit company (many samples are included with your copy of QuickBooks – depending on your version you have.)
Using QuickBooks at Your OrganizationConference Call: 866-740-1260 Access Code: 6339392
Resources for Setting Up QuickBooks• Find a local expert or Quickbooks Pro Advisor -http://
quickbooks.intuit.com/product/training/local_expert.jsp
• MAC Implementation Questionnaire for use in setting up QuickBooks or redesigning your existing setup. http://www.mac-cpa.biz/resources-for-nonprofits/
• www.nonprofit-connect.com – Community of local nonprofits, staff, consultants, experts sharing resources. (Join the new “QuickBooks users” group.)
• QuickBooks for Not-for-Profit Organizations – 2008 By Christine L. Manor, CPA, Available at www.sleeter.com
• MAC – McCallick Accounting & Consulting – see www.mac-cpa.biz or contact [email protected]
• QuickBooks Nonprofit Edition: http://quickbooks.intuit.com/premier/?industry=nonprofit
• What’s New for QuickBooks 2011: http://quickbooks.intuit.com/pro/whats-new/
Using QuickBooks at Your OrganizationConference Call: 866-740-1260 Access Code: 6339392
Continue the Discussion…
• Additional questions can be answered by posting in in our Community Forum:– http://bit.ly/fLxoma
Using QuickBooks at Your OrganizationConference Call: 866-740-1260 Access Code: 6339392
Upcoming Webinar
• Registering Your OrganizationFriday, March 11, 10 - 11 a.m. Pacific time
– View this and all previously recorded webinars at: www.techsoup.org/go/webinars
Using QuickBooks at Your OrganizationConference Call: 866-740-1260 Access Code: 6339392
Thank you to our Webinar Sponsor!
ReadyTalk offers dedicated product demos for TechSoup organizations 4 times per week.
For more information: pages.readytalk.com/techsoup.html
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Thank you! Please complete the post event survey!
Becky Wiegand, [email protected], 415-633-9476