Bookkeeping at a nonprofit can be a difficult task. With so many unique tax and reporting requirements for your donors, accounting alone can sometimes be an obstacle to focusing on your organization's core mission.
Luckily, QuickBooks has a Nonprofit Edition that helps address these needs. What's more, Intuit has added a few helpful improvements to QuickBooks Premier and QuickBooks for Mac 2019. These can make your accounting efforts run a bit more smoothly in general. After all, if you're already working on a tight budget, you can't afford to waste money on inefficient processes that slow you down.
A Valuable Accounting Solution
Of course, all the QuickBooks functionality with which you're already familiar hasn't gone anywhere. With QuickBooks Premier and QuickBooks for Mac 2019, you can still
- Stay in sync with your bank. You can automatically download, categorize, and reconcile bank and credit card transactions.
- Get — and give — a clear picture of your organization's financial health.
- Stay on budget. You can easily create a statement of financial position and dozens of other reports you can share with your board and your accountant.
- Acknowledge your donors' contributions with thank-you letters and year-end acknowledgments. You can see who your biggest donors are and track their contributions.
- Create an IRS Form 990 (statement of functional expenses).
Feature Updates for 2019
QuickBooks Premier 2019 has added lots of great improvements to make nonprofit accounting even easier. New and improved features include
- Easier software transferability from one computer to another. This is especially helpful for nonprofits with high staff turnover.
- An improved invoice tracker that lets you monitor invoices in a single tracking screen, and lets you know whether or not an email containing an invoice has been opened.
- Accurate tracking of staff members' accrual of sick and vacation time.
- "Check for bills" notifications that make payments by check easier to process.
- An updated condense feature that allows users to remove the audit trail from a company file once it’s no longer needed.
- The ability to seamlessly transfer credits from one job to another.
QuickBooks for Mac has also received a number of upgrades, including
- iCloud document sharing.
- Reconciliation discrepancy reports (which help you easily track and rectify discrepancies between bank records and QuickBooks).
- Past due stamps.
- Customer and vendor email tracking that provides a clear history of each transaction.
A Powerful Tool for Your Nonprofit
Remember, QuickBooks allows you to integrate its software with your email client. You can also easily import data from Excel, Quicken, Office Accounting, and other installations of QuickBooks 2019, so you can swiftly execute any accounting task that comes your way.
Also, the Document Center makes it easy to attach and store receipts, estimates, and other documents to invoices and customer files. And don't forget that QuickBooks makes your invoices, billing, past transactions, and important tasks available in daily, weekly, and monthly views.
With great classic features and smart innovations, QuickBooks software just might be the solution your nonprofit needs this year.
Additional Resources: Nonprofit Accounting with QuickBooks
- Start configuring QuickBooks for your nonprofit by learning about planning and implementation.
- Continue configuring QuickBooks by setting up the chart of accounts.
- Utilize the Customer/Jobs and Classes utilities to set up QuickBooks so you can run reports by funding source or program.
- Set up coding and reporting in QuickBooks Nonprofit Edition.
- Take advantage of QuickBooks Made Easy for Nonprofits training, available through TechSoup.