Quick Books Webinar

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Intuit’s QuickBooks accounting and financial management software is a popular choice among nonprofits and libraries – particularly with donated software available through TechSoup. Want to learn more …

Intuit’s QuickBooks accounting and financial management software is a popular choice among nonprofits and libraries – particularly with donated software available through TechSoup. Want to learn more about using it? Or hone your skills and knowledge of how it can be used? Then this is the webinar for you!

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  • TechSoup.org offers nonprofits a one-stop resource for technology needs by providing free information, resources, and support. In addition to online information and resources, we offer a product philanthropy service through which nonprofits can access donated and discounted technology products, generously provided by corporate and nonprofit technology partners.
  • TechSoup Global currently operates its product donation programs with partners in 32 countries. With the number of supporting corporations currently at 37 (offering 392 different donated or discounted products) TechSoup Global has provided approximately 4.9 million donated technology products since program inception to NGOs around the world. The retail price of these donations is roughly equivalent to US$1.4 billion.

Transcript

  • 1. Using QuickBooks at Your Organization March 2011 Audio is only available by calling this number: Conference Call: 866-740-1260; Access Code: 6339392 Sponsored by
  • 2. Using ReadyTalk
    • Chat & raise hand
    • All lines are muted
    • If you lose your internet connection, reconnect using the link emailed to you.
    • If you lose your phone connection, re-dial the phone number and re-join.
    • ReadyTalk support: 800-843-9166
  • 3. You are being recorded…
    • Streaming into Second Life
    • This seminar will be available on the TechSoup website along with past webinar presentations:
      • www.techsoup.org/go/webinars
    • You will receive a link to this presentation, material, and links via email later today.
    • After the webinar, you can ask follow-up questions in our Community Forum:
      • http://bit.ly/fLxoma
    • Twitter hashtags: #techsoup
  • 4. 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 .
  • 5. 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.
  • 6.  
  • 7. 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
  • 8. Agenda
    • Six Steps for Configuring QuickBooks for Your Organization
    • Features in QuickBooks 2011
    • Premier or Pro?
    • Intuit Donation Program
    • Q&A
    • Additional Resources
  • 9. Configuring QuickBooks for Use in a Nonprofit flickr.com/photos/bjmccray
  • 10. Step 1 of 6 - Planning and Implementation…
      • Webinar is a summary of my blog posts that can be found on http://blog.techsoup.org/blog/167
      • “ 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.
  • 11. Meet with Stakeholders First flickr.com/photos/twowest
  • 12. 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?
  • 13. STEP 2 of 6 - Setting Up the Chart of Accounts
    • See second post: http://blog.techsoup.org/node/1473 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.
  • 14.
    • 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.”
    • 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
  • 15. 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
  • 16. He is your “Customer.” This is your “Job.” flickr.com/photos/calsagtrail
  • 17. 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
    • 2009 5K Run
    • 2009 GALA
  • 18. flickr.com/photos/jeremywilburn flickr.com/photos/reportersphotos flickr.com/ph otos/thepo inteatkilpatrick
  • 19. 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:
      • financial information combined
      • funding source
      • by program
  • 20. STEP 5 – Coding Transactions with QuickBooks “Customer/Job” and “Classes” Utilities 07/14/2010 Database flags appended to each cash receipt, disbursement, journal entry, etc,
  • 21. 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.
  • 22. What’s New in QuickBooks 2011? (and what are the differences between Premier and Pro?) VS.
  • 23. Key Features in QuickBooks Premier (Not in QB Pro)
  • 24. New Features in QuickBooks 2011
  • 25. New Features in QuickBooks 2011
    • TBD
  • 26. Donated QuickBooks 2011 Through TechSoup
      • QuickBooks Premier 2011 1-user
      • ($45 Admin Fee)
      • QuickBooks Premier 2011 3-user
      • ($99 Admin Fee)
      • QuickBooks for Mac 2011
      • ($25 Admin Fee)
    http://home.techsoup.org/Stock/Pages/Category.aspx?category=IntuitManage
  • 27. Intuit’s Donation Program Through TechSoup
    • Intuit donates:
      • QuickBooks Premier 2011 1-user ($45)
      • QuickBooks Premier 2011 3-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!
  • 28. Questions? Submit your questions using the chat box.
  • 29. Resources for Setting Up QuickBooks
    • QuickBooks Donations Through TechSoup http://home.techsoup.org/Stock/Pages/Category.aspx?category=IntuitManage
    • “ Configuring QuickBooks for Nonprofits” blog series by Mark McCallick: http://blog.techsoup.org/blog/167  
    • Running QuickBooks in Nonprofits – by Kathy Ivens http://www.amazon.com/Running-QuickBooks-Nonprofits-Comprehensive-Guide/dp/0972066985 )
    • Mastering QuickBooks for Nonprofits – by Real World Training www.realworldtraining.com
    • 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.)
  • 30. Resources for Setting Up QuickBooks
    • Find a local expert or Quickbooks Pro Advisor - http:// quickbooks.intuit.com/product/training/local_expert.jsp
    • MAC Implementation Questionnaire for use in setting up QuickBooks or redesigning your existing setup. http://www.mac-cpa.biz/resources-for-nonprofits /
    • www.nonprofit-connect.com – 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 www.sleeter.com
    • MAC – McCallick Accounting & Consulting – see www.mac-cpa.biz or contact [email_address]
    • QuickBooks Nonprofit Edition: http:// quickbooks.intuit.com /premier/?industry=nonprofit
    • What’s New for QuickBooks 2011: http:// quickbooks.intuit.com/pro/whats -new/
  • 31. Continue the Discussion…
    • Additional questions can be answered by posting in in our Community Forum:
      • http://bit.ly/fLxoma
  • 32. Upcoming Webinar
    • Registering Your Organization Friday, March 11, 10 - 11 a.m. Pacific time
      • View this and all previously recorded webinars at: www.techsoup.org/go/webinars
  • 33. 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
  • 34. Thank you! Please complete the post event survey! Becky Wiegand, becky@techsoup.org, 415-633-9476