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Mastering QuickBooks for Nonprofits

  1. The Basics
    • Using the nonprofit menu
    • Understanding the financial statements of a nonprofit (what you really NEED to know)
    • Unified chart of accounts (UCOA)
    • Nonprofit forms and letters
    • Setting up accounts for different nonprofits (such as traditional charities, membership associations, houses of worship, performing arts organizations, private schools, and even governmental agencies)
    • Setting up programs
    • Entering grants
    • What’s a form 990?
  2. Tracking Income
    • Setting up members and donors
    • Recording individual donations
    • Recording lump sum donations
    • Tracking and receiving grants
    • Receiving general contributions
    • Making deposits
  3. Tracking Expenses
    • Setting up vendors and employees
    • Entering and paying bills
    • Writing checks
    • Using an outside payroll service
    • Paying employees
    • Paying payroll taxes
    • Tracking volunteer time
    • Classifying expenses and payroll by program
    • Allocating expenses by percentage to programs
  4. Standard Reports for Nonprofits
    • Basic profit & loss statement
    • Profit & loss statement by month and by program
    • Budget vs. actual reports
    • Year-end financial statements for auditors, directors and accountant (for 990 tax form)
  5. Customizing QuickBooks
    • Adding, deleting, resizing, and reordering columns on reports
    • Filtering and formatting reports
    • Saving reports and creating memorized report groups
    • Customizing forms
    • Creating and using custom fields
    • Exporting reports to Excel
  6. Advanced Budgeting
    • Entering and reviewing budgets
    • Copying prior year’s budgets
    • Modifying budgets using Excel
    • Importing an Excel budget
    • Tracking budgets by program
    • Entering budgets by grant
    • Preparing budget reports for the board of directors
    • Generating budget vs. actual reports
  7. Pledges
    • Entering pledges
    • Reports of outstanding pledges
    • Sending reminder letter for overdue pledges
  8. Membership Organizations
    • Invoicing for membership organizations
    • Setting up members
    • Reports of past due “dues”
    • Sending renewals
  9. In-Kind Contributions
    • Understanding in-kind contributions
    • Accounting for in-kind contributions
  10. Matching Grants
    • Setting up Matching Grants
    • Recording donations and pledges for matching grants
    • Reports for matching grants
  11. Capital Campaigns
    • Creating a capital campaign
    • Setting up the appropriate accounts, classes, and budgets for a capital campaign
    • Entering pledges, individual contributions, and lump-sum contributions for a capital campaign
    • Recording year-end adjustments
    • Reports for capital campaigns
  12. Special Events
    • Creating a special event
    • Setting up the appropriate accounts, items, and budgets for a special event
    • Accounting for sponsorship activities
    • Entering ticket sales
    • Tracking in-kind contributions, lump-sum deposits, and expenses for a special event
    • Reports for special events
  13. Direct Mail Pieces (fundraising letters)
    • Creating fundraising letters
    • Creating accounts and items for letters
    • 2 methods for entering income from letters
    • Accounting for expenses
    • Reports for fundraising letters
  14. Fiscal Sponsorships
    • Creating accounts, items, and customers for fiscal sponsorships
    • 2 methods for entering income
    • Accounting for payments
    • Reports for fiscal sponsorships
  15. Tracking Donors/Volunteers
    • Entering information for donors and volunteers
    • Sending letters to donors
    • Year-end reports for donors
    • Tracking time for volunteers
  16. Houses of Worship
    • Running the profit & loss statement by committee
    • Creating special accounts and budgets
    • Reports for Houses of Worship
  17. Tracking Funds
    • Creating classes and accounts for funds
    • Entering transactions to funds
    • Recording beginning fund balances
    • Reviewing fund balances
  18. Advanced Features
    • Using QuickBooks on a network (multi-user)
    • Password protecting QuickBooks
    • Updating QuickBooks
    • Protecting your QuickBooks data
  19. Payroll
    • Setting up payroll
    • Entering employees
    • Setting up payroll items
    • Tracking and invoicing time
    • Processing paychecks
    • Modifying paychecks
    • Making tax deposits
    • Preparing tax forms
  20. Tricky Transactions
    • Using online banking
    • Handling bounced checks...easily
    • Entering customer down payments/deposits
    • Setting up automatic transactions (memorizing transactions)
    • Using credit cards
  21. Inventory
    • Entering purchase orders
    • Receiving inventory
    • Adjusting inventory quantities

Mastering QuickBooks Level 2

  1. Customizing QuickBooks (make QuickBooks REALLY work for you!)
    • Modifying important preferences
    • Customizing your home page
    • Modifying the iconbar
    • Creating and using custom fields
    • Using account numbers
    • Using classes (for departments, locations, etc.)
  2. Sales Transactions, Tricks, and Workarounds
    • Setting up price levels
    • Sales orders/backorders
    • Batch invoicing
    • Invoicing for billable costs
    • Complex sales tax situations
    • Creating and using estimates
    • Progress invoicing
    • Finding and fixing typical errors in accounts receivable
    • 2 methods for handling customer deposits
    • Managing collections
    • Writing off bad debts
    • Customer under- and over-payments
    • Transferring customer credits
    • Working with multiple accounts receivable accounts
    • Entering retail sales
  3. Purchase Transactions, Tricks, and Workarounds
    • Purchasing and accounting for fixed assets
    • Entering company loans with the Loan Manager
    • Lines of credit
    • Typical bill payment errors
    • Preparing 1099’s at year-end
    • Employee and owner purchases
    • Prepaid expenses
    • Vendor deposits
    • Vendor refunds
    • Barter transactions
    • Voiding prior period checks
    • Using the cash flow projection tool
  4. Items & Inventory
    • Expenses vs. Items…which do you use?
    • Inventory limitations
    • Inventory adjustments
    • Creating group items
    • Working with inventory assemblies
    • Units of measure
  5. Advanced Tricks
    • When should you start over with a new file?
    • The limitations of QuickBooks
    • Handling bank reconciliation errors
    • Using multiple currencies
    • Fixing errors in all areas of QuickBooks... there are 
      so many we can't list them all!
  6. Completing Set Up
    • Completing setup: opening balances, completing lists, special 
      accounts, opening balance equity, and payroll setup
    • 2 methods for entering transaction history
    • Checking the setup…is it right?
  7. Payroll Transactions, Tricks, and Workarounds
    • Correcting the setup of payroll items
    • Adding difficult payroll items
    • Using payroll effectively for job costing
    • Voiding/Reprinting paychecks
    • Handling special payroll deductions and payments
    • Preparing and adjusting W-2s
    • Employee loans
    • Setting up and tracking workers compensation insurance
    • Net to Gross paycheck calculations
  8. Mastering QuickBooks Reporting
    • Advanced report customization
    • Report types in QuickBooks…what you really need to know!
    • Importing and exporting reports
    • Using special fields to improve reports
    • Troubleshooting reports filters
    • Memorizing reports and creating report groups
    • Adding reports to the iconbar
    • Powerful techniques for modifying reports in Excel
    • Generating custom summary and transaction reports
    • Graphing QuickBooks data in Excel
    • Budgets and forecasts
    • Combining financial statements
    • Extending the QuickBooks database
    • Using advanced fields for reports (customer type, vendor type, job type, custom fields,and more)
  9. Unlocking the Power of QuickBooks
    • Deleting and archiving old transactions in your file
    • Remote access (to access your company file through the internet)
    • Automating backups
    • Tricks to make QuickBooks run faster and more efficiently
    • Corrupt data files…how, why, and what to do
    • Verify and rebuild company files
  10. Importing and Exporting
    • Exchanging data between QuickBooks files
    • Importing and exporting lists
    • Importing and exporting customized forms
    • Using reports with multiple company files
    • Exchanging data between QuickBooks and other programs
    • Working with integrated applications
    • Using special Excel import feature
  11. Secrets Your Accountant Should Know
    • Common client mistakes and their fixes
    • Closing the books
    • Getting information to and from your accountant
    • Finding changes made to closed periods
    • Understanding and using retained earnings
    • Discovering quirks of QuickBooks journal entries
    • Using reversing journal entries
    • Year-end procedures
    • Using the Audit Trail and other reports to find errors
    • Cash basis financial statements (what is QuickBooks doing?)
    • Special reports for your accountant
    • What you REALLY need to know to become an advanced user!
    • Little known power features in all areas of QuickBooks

Mastering Accounting Basics

  1. Accounting Basics
    • Definition of Accounting from a small business perspective
    • Explanation of why you need accounting
    • Financial statements…what are they?
    • What is an account?
    • Double entry accounting and how it applies to QuickBooks
    • Debits and credits…the essence of accounting
  2. Accounting Principles
    • Intro to accounting principles…the foundation of accounting
    • Reporting principle
    • Reliability principle
    • Comparability principle
    • Cost principle
    • Revenue principle
    • Matching principle
    • Applying the principles
  3. Accounting Basics in QuickBooks
    • The balance sheet and profit & loss statement
    • Working with account types
    • Setting up the chart of accounts
    • Management reporting vs. financial reporting
    • Working with subaccounts
    • Techniques to review account detail
    • Understanding debits/credits in common QuickBooks transactions (checks, invoices, payments, deposits, bills, bill payments, and journal entries)
  4. Reviewing Numbers for Accuracy
    • Basic review techniques
    • Using QuickZoom as an investigative tool
    • Reconciling accounts to external documentation
    • Verifying numbers on key reports
    • Checking balances for accounts receivable, accounts payable, and inventory
  5. Analyzing and Interpreting Data
    • Basic financial interpretations
    • Analyzing business trends
    • Interpreting variable expenses
    • Understanding and using key financial ratios (current ratio, return on equity, gross profit margin, and net profit margin)
  6. The Accounting Cycle (who does what and when?)
    • What is the accounting cycle and why is it important?
    • Daily accounting tasks
    • Weekly accounting tasks
    • Pay period accounting tasks
    • Monthly accounting tasks
    • Quarterly accounting tasks
    • Annual accounting tasks
    • Key tasks within each cycle demonstrated in QuickBooks
    • Closing the books
    • Restricting access to closed periods
  7. Working with Your Accountant
    • Speaking the same language as your accountant!
    • Creating a client/accountant agreement
    • Methods for getting information to your accountant
    • Accountants Copy Process
    • Special reports for your accountant (journal report, general ledger, transaction entry journal, and trial balance)
  8. More Accounting
    • Using account numbers
    • Setting up classes to segment financial statements
    • Budgeting and planning in QuickBooks
    • Cash vs. accrual accounting
    • Understanding and using retained earnings
    • Year-end closing entries
    • Finding prior year changes
  9. Also Includes These Valuable Resources:
    • A glossary of accounting terms so you can finally understand your accountant!
    • A QuickBooks keyboard shortcuts list - to save time
    • A summary of account types and which financial statements they flow to
    • A Debits and Credits "Cheat Sheet" - no need to memorize how they work!
    • A list of financial ratios and how they are calculated
    • A sample tax calendar so you know when various tax forms and payments are due
    • A list of record-keeping requirements (as suggested by IRS)
    • A periodic activities checklist (so important accounting tasks are not overlooked)
    • A year-end closing checklist
    • A step-by-step summary of the techniques used to exchange data with your accountant
    • Help creating a client/accountant agreement, and assigning responsibilities
    • A backup log you can use to schedule and monitor timely backups

Mastering QuickBooks Payroll

  1. Payroll...before you begin
    • The top ten payroll mistakes YOU MUST avoid
    • Know your payroll risks and responsibilities.
    • Standard forms for new employees
    • Contractors vs. employees (when to use each)
  2. Set Up
    • Information you MUST have to get started
    • Using the Payroll Setup wizard
    • Setting up employees
    • Adding compensation types (hourly, salary, bonus, etc)
    • Setting up employee benefits (insurance, reimbursements, etc)
    • Adding retirement benefits like 401 (K) plans
    • Adding PTO (sick & vacation time)
    • Setting up federal taxes (Income tax, FICA, etc)
    • Setting up the right taxes for your state
    • Reviewing your payroll set up
    • Entering payroll history
    • Customizing payroll
    • Creating payroll schedules
    • Understanding and adding payroll items
    • Creating unique and special payroll items
  3. Running Payroll
    • Entering employee time
    • Running employee productivity reports
    • Preparing employee paychecks
    • Printing & modifying paychecks
    • Printing employee paystubs
    • Running payroll reports
    • Exporting payroll data to Microsoft Excel
  4. Taxes & Tax Forms
    • Making tax deposits
    • Paying other payroll liabilities
    • Using E-file to pay taxes electronically
    • Correcting & adjusting payroll liabilities
    • Preparing & filing your quarterly & annual tax returns (federal and state)
  5. Special Transactions
    • Entering "net to gross" paychecks
    • Running unscheduled & termination paychecks
    • Handling unexpected changes during the year
    • Voiding paychecks
    • Tracking & paying employee commissions
    • Custom liability payments
    • Depositing tax refunds
  6. Advanced Transactions
    • Handling expenses like insurance where company & employee each pay a share
    • Mapping payroll items to get meaningful financial statements
    • Job costing payroll
    • Tracking employee loans
    • Handling wage garnishments
    • Paycheck issues
    • Tracking payroll by "class"
Register Now
Nonprofit Ultimate Training Bundle-On demand Online course
  • Course ID:
    253474
  • Duration:
    1 day
  • Price:
    $800