talks! Using QuickBooks at Your Organization March 2011 Audio is only available by calling this number: Conference Call: ; Access Code: Sponsored by

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talks! Using QuickBooks at Your Organization Presenters: Mark McCallick and Woody Adams Sponsored by This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License.Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License

Using QuickBooks at Your Organization Conference Call: Access Code: 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 Organization Conference Call: Access Code:

Using QuickBooks at Your Organization Conference Call: Access Code: Today’s Speakers Mark McCallick CPA and QuickBooks Pro Advisor, McCallick Accounting and Consulting Facilitator: Becky Wiegand, TechSoup Global Assisting with chat questions: Elliot Harmon and Cameron Jones, TechSoup Global Woody Adams QuickBooks Product Specialist, Intuit

Using QuickBooks at Your Organization Conference Call: Access Code: 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 Organization Conference Call: Access Code: Configuring QuickBooks for Use in a Nonprofit flickr.com/photos/bjmccray

Using QuickBooks at Your Organization Conference Call: Access Code: Step 1 of 6 - Planning and Implementation… –Webinar is a summary of my blog posts that can be found on –“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.The Seven Habits of Highly Effective People

Using QuickBooks at Your Organization Conference Call: Access Code: Meet with Stakeholders First flickr.com/photos/twowest

Using QuickBooks at Your Organization Conference Call: Access Code: 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 Organization Conference Call: Access Code: STEP 2 of 6 - Setting Up the Chart of Accounts See second post: 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 Organization Conference Call: Access Code: 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.”Unified Chart of Accounts Toolkit 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 Organization Conference Call: Access Code: 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 Organization Conference Call: Access Code: He is your “Customer.” This is your “Job.” flickr.com/photos/calsagtrail

Using QuickBooks at Your Organization Conference Call: Access Code: 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 K Run 2009 GALA

Using QuickBooks at Your Organization Conference Call: Access Code: flickr.com/photos/jeremywilburn flickr.com/photos/reportersphotos flickr.com/photos/thepointeatkilpatrick

Using QuickBooks at Your Organization Conference Call: Access Code: STEP 5 – Coding Transactions with QuickBooks “Customer/Job” and “Classes” Utilities In our QuickBooks solution, every transaction in a nonprofit needs to have three database flags appended to it. This creates the ability to report: 1.financial information combined 2.funding source 3.by program

Using QuickBooks at Your Organization Conference Call: Access Code: STEP 5 – Coding Transactions with QuickBooks “Customer/Job” and “Classes” Utilities AccountFunding SourceProgram 07/14/ Database flags appended to each cash receipt, disbursement, journal entry, etc,

Using QuickBooks at Your Organization Conference Call: Access Code: 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 Organization Conference Call: Access Code: What’s New in QuickBooks 2011? (and what are the differences between Premier and Pro?) VS.

Using QuickBooks at Your Organization Conference Call: Access Code: Key Features in QuickBooks Premier (Not in QB Pro)

Using QuickBooks at Your Organization Conference Call: Access Code: New Features in QuickBooks 2011

Using QuickBooks at Your Organization Conference Call: Access Code: New Features in QuickBooks 2011 TBD

Using QuickBooks at Your Organization Conference Call: Access Code: Donated QuickBooks 2011 Through TechSoup QuickBooks Premier user ($45 Admin Fee) QuickBooks Premier user ($99 Admin Fee) QuickBooks for Mac 2011 ($25 Admin Fee)

Using QuickBooks at Your Organization Conference Call: Access Code: Intuit’s Donation Program Through TechSoup Intuit donates: –QuickBooks Premier user ($45) –QuickBooks Premier 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!

talks! Questions? Submit your questions using the chat box.

Using QuickBooks at Your Organization Conference Call: Access Code: Resources for Setting Up QuickBooks QuickBooks Donations Through TechSoup tManage tManage “Configuring QuickBooks for Nonprofits” blog series by Mark McCallick: Running QuickBooks in Nonprofits – by Kathy Ivens Comprehensive-Guide/dp/ ) Comprehensive-Guide/dp/ Mastering QuickBooks for Nonprofits – by Real World Training 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 Organization Conference Call: Access Code: Resources for Setting Up QuickBooks Find a local expert or Quickbooks Pro Advisor MAC Implementation Questionnaire for use in setting up QuickBooks or redesigning your existing setup – 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 MAC – McCallick Accounting & Consulting – see cpa.biz or contact QuickBooks Nonprofit Edition: What’s New for QuickBooks 2011:

Using QuickBooks at Your Organization Conference Call: Access Code: Continue the Discussion… Additional questions can be answered by posting in in our Community Forum: –

Using QuickBooks at Your Organization Conference Call: Access Code: Upcoming Webinar Registering Your Organization Friday, March 11, a.m. Pacific time Registering Your Organization –View this and all previously recorded webinars at:

Using QuickBooks at Your Organization Conference Call: Access Code: 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

talks! Thank you! Please complete the post event survey! Becky Wiegand,