QuickBooks for Nonprofits: Setting Up the Chart of Accounts

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As a nonprofit, you would like absolutely the best for your organization — which includes accounting software. If you’ve started your look for the simplest accounting software for nonprofits, I’m sure you didn’t get far without hearing the name QuickBooks.

But is QuickBooks the correct accounting solution for your small business or not-for-profit organization? Which QuickBooks product is best for nonprofits? and the way does one know if QuickBooks has the nonprofit features you need?

QuickBooks Nonprofit Products

First off, QuickBooks doesn’t have a separate product specifically designed for nonprofits. However, several of its existing products offer nonprofits features.

  • QuickBooks Premier: QuickBooks Premier (see our review) has full-fledged, locally-installed accounting software designed for little to medium-sized businesses. If QuickBooks Premier offers six industry-specific editions, including a nonprofits edition.
  • QuickBooks Enterprise: Like QuickBooks Premier, QuickBooks Enterprise (see our review) could be a locally installed software targeted to large businesses and enterprises. This product also features a nonprofit edition.
  • QuickBooks Online: QuickBooks Online (see our review) is cloud-based accounting software with heaps of features and over 200 integrations. While there aren’t any built-in nonprofit features in QuickBooks Online, there are a lot of integrations that will provide you with the nonprofits features you would like.

QuickBooks Online is a wonderful place to begin if you’re searching for simple, web-based accounting software for nonprofits. However, during this post, we’ll focus specifically on the nonprofit edition of QuickBooks Premier and QuickBooks Enterprise.

Is QuickBooks Right For My Nonprofit Organization?

QuickBooks Premier and QuickBooks Enterprise have fully-developed accounting solutions. Each features a little bit of a learning curve but offers impressive features and key nonprofit features. But how do you know if QuickBooks Nonprofit Edition is correct for you?

Ask yourself these questions:

  • Do I actually have time to find out the way to use QuickBooks Premier or Enterprise?
  • Do the QB Premier Nonprofit and/or QB Enterprise Nonprofit Editions include all of the features I need?
  • Can I afford nonprofits accounting software from QuickBooks?

If you answered “yes” to all or any of those questions, great! QuickBooks could also be a decent suitable for your nonprofit organization.

Nonprofit Accounting Features

In addition to the quality features that associate with QuickBooks Premier and QuickBooks Enterprise, the nonprofits edition for both programs adds:

  • Pledges: You’ll be able to create and manage pledges. When creating a pledge, you’ll be able to record the item, description, class, amount, and tax.
  • Donations: You’ll be able to record donations made by check, e-check, MasterCard, debit card, or cash.

Learn more about how real nonprofit organizations are using QuickBooks Nonprofit Edition, or to understand more features click on Setting up QuickBooks for Non-Profits Organisation.

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