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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

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Using QuickBooks at Your OrganizationConference Call: 866-740-1260 Access Code: 6339392

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Using QuickBooks at Your OrganizationConference Call: 866-740-1260 Access Code: 6339392

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Using QuickBooks at Your OrganizationPresenters: Mark McCallick and Woody Adams

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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 mmccallick@mac-cpa.biz

• 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

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Using QuickBooks at Your OrganizationConference Call: 866-740-1260 Access Code: 6339392

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Becky Wiegand, becky@techsoup.org, 415-633-9476