Nonprofits track their expenses by function. They do this in 3 main categories: Administration, Fundraising, and Program. These tie in directly to the 990 reporting. You will use Classes in QBO to track your functional expenses. Before we get into setting up your Classes and chart of accounts, here’s a quick rundown of how these…
Work through each of the steps below to update the settings for your QBO account. Even if you already have QBO set up, it is a good idea to review these settings to see if you are missing anything. We will look at the most important settings to get the functionality you’ll need from QBO,…
Your very first step is to sign up with TechSoup and request the discounted QBO subscription. TechSoup offers discounts on software, tech devices, and services for 501(c)(3) nonprofits, so it’s a great resource for tech needs aside from QBO as well. The price for QBO through TechSoup is minimal compared to a regular accounting software…