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 Post subject: How can a nonprofit organization utilize QuickBooks online
PostPosted: Wed Nov 06, 2019 7:01 pm 

Joined: Sat Nov 02, 2019 12:05 am
Posts: 6
QBO is obviously primarily designed to be used by for profit businesses, but if the non-profit does not have a particularly complicated fund structure, QBO should work just fine by simply structuring your chart of accounts so that the balance sheet accounts represent your permanent fund and the income statement accounts represent your operating fund. You could even use classes in the income statement if you have multiple operating funds. If your operating fund spans more than a 12 month fiscal period, QBO allows for printing reports based on a date range of up to multiple years. QBO even has an option when you set up a new entity to select that it is a non-profit which will default to using the accounting terms associated with fund accounting.

Even though QBO is not designed specifically for non-profits, in my experience it is much more user friendly, reliable, flexible and affordable than many of the accounting apps specifically designed for non-profit accounting and would work just fine for most small to medium sized non-profits.

Understand more about QuickBooks Online vs desktop.

To get the benefits of both QuickBooks for nonprofits you can try out QuickBooks Cloud Hosting.



Regards,
Adrian


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