You will be completely surprised to know that there are more than 5.6 million non-profit organizations around the world and the number is increasing at a very fast pace since most of the countries out there are realizing the need for such organizations.
f you have ever gone through the working of a non-profit organization then you must have understood that there are many parts of a non-profit organization that are different from a normal firm and this is why you will have to be particular about the solutions that you will choose for your non-profit firm. Well, the same thing can be applied to the accounting process of a non-profit organization.
If you are running a non-profit organization then you will expect everything to be perfect and this is why instead of choosing just any accounting software, you will need to go with QuickBooks non-profit accounting software. Let’s understand each and every aspect of QB non-profit organization in this blog post.
What is QuickBooks for non-profit?
QuickBooks for non-profit is an especially designed accounting software version for each and every type of non-profit organization. There are many accounting operations in non-profit organizations that are completely different from that of profit-based organizations and this is why as a non-profit organization, you can’t use the normal accounting software. But the trained professionals at Intuit realized the specific accounting need of the non-profit organization and this is why they came up with QuickBooks for non-profit.
With the help of this unique accounting solution, you can easily keep track of donations, invoicing, and bookkeeping and fulfill all your accounting needs without any hassle. As an owner of a non-profit organization, you must not be good at accounting but you don’t have to worry about your accounting skills when you will choose this unique accounting software since it is user-friendly and even its UI is pretty simple.
The different products of QuickBooks for non-profit
One of the most important things that you will have to understand is there is no such product as QuickBooks for non-profit but there are existing products of Intuit that offer you specific features related to the accounting operation of non-profit organizations. Here are the two products of Intuit with which you will get industry-specific features.
QuickBooks Premier is complete accounting software that is cloud compatible and it comes with all the accounting features that will be needed by any type of small and medium-sized businesses. There are basically six industry-specific editions of this QuickBooks version and non-profit is one of them.
QuickBooks Enterprise is one of the most advanced and powerful accounting software that is mostly used by medium and large-sized organizations. And even this powerful accounting software has a non-profit version that is used by all the non-profit organizations.
Features that you will get with the non-profit version
Automated program and fund accounting
When you will be using the non-profit version of QuickBooks then you will be easily able to categorize revenue expenditure by programs or funds and then you can easily generate custom reports on the basis of the type of data that is more important for you.
Even if you are running a large non-profit organization, still you are able to deal with the accounting aspect with QB for non-profit. If you will be using the non-profit version of QB Enterprise then you can easily access and store thousands of donors, items, and vendors without any hassle.
Keeping the donor’s data secure is up to you and you can always trust QB for this purpose. We are saying this with so much confidence because you can set individual permission for more than 115 activities and this will provide you bank-level protection for the donor data that you are dealing with on a daily basis.
Acceptance of all forms of donations
It doesn’t matter which medium is being used by your donors, with QB for non-profit, you can accept them all. You can accept donations through credit card, debit card, cash, cheque, and even through bank transfer.
Syncing donation apps
Just in a few clicks, you can easily import important data related to donors to QB for non-profit from famous donation-based apps like Fundly or DonorPerfect.
Stay IRS complaint and generate reports
It doesn’t matter whether you are running a small or a large non-profit organization, QB will help you in being one step ahead of the IRS regulatory compliance through seamless accounting and tax filing. In addition to this, you can also generate useful reports like donor-based reports or grant reports by using this advanced accounting software.
Is hosting QuickBooks for non-profit on the cloud a good option?
As discussed at the outset of the article, you will always wish the best for your non-profit organization and that’s why instead of compromising on flexibility, accessibility, security, and backup by installing the accounting software on the desktop, you should choose the cloud for it. When you will start using the cloud-hosted version of the accounting software then you will have to not wait to reach your office desktop in order to pass a donation and enter it in your books as your accounting solution will become available from everywhere.
In addition to this, you will also be able to add multiple layers of security to the data of the donors that are highly sensitive as cloud is currently the most secure platform for accessing, updating, sharing, and storing data. All that you will have to do is to choose the right cloud hosting provider and then everything else will be done by the cloud vendor itself.
QuickBooks for non-profit is surely an amazing accounting solution but by hosting it on the cloud, you will be able to get the best of both the worlds; accounting software and cloud. So make sure that you keep helping society and the people in need by thriving on a seamless accounting and tax process through QB for non-profit.