Quickbooks Non-Profit is best suited for non-profit organization. It is customized to fit this organization. From the terms being used in Quickbooks to the reports, these are all customized.
If you have used a regular Quickbooks, it has customers and sales receipts. But if you are using a nonprofit edition, customers are called donors and sales receipts are called donations.
Aside from the common features that you will see on a regular Quickbooks Premier, below are some of the key features and reports customized for this edition:
- Access the end-year donation statements - This is like the regular statement that you access. If you are on the Home page, you just need to click the statements icon to access the donation statements.
- Create Form 990 (Statement of Functional Expenses) - This is the report that will help you fill out the Statement of Functional Expenses section of IRS Form 990. All you need to do is copy the total values of this report to the Form 990. You can access the report by going to Reports > Nonprofit Reports > Statement of Functional Expenses (990).
- Financial Statement reports - Like other versions of Quickbooks, you can have access to financial statements even if you are using the Quickbooks Non-Profit edition. You can access the different financial statement reports by going to Reports > Company & Financial.
- Donor Contribution Summary Reports - This report shows a summary of how much money was contributed by each donor or grant. To access this report go to Reports > Nonprofit Reports > Donor Contribution Summary.
- Import a Non-Profit Chart of Accounts - There's what we called UCOA (Unified Chart of Accounts) for nonprofit organizations. This feature is very helpful especially if you want to directly import the UCOA on your company file. You can access this by going to Nonprofit > Import Nonprofit Chart of Accounts (UCOA).
- Track budgets and finances by program - Since this version is focusing on nonprofit organization, it's very important to have a budget. This is why there's this feature called budget in Quickbooks where you can create a budget. To access this go to Company > Planning & Budgeting > Set Up Budgets.