Nonprofit businesses serve in a profit-less way to society. Everyone from the Board of Directors and Administrators to Executives and Volunteers come together to run these businesses for the welfare of society.
With QuickBooks Enterprise, it is easy to categorize revenue expenses by a campaign and create a custom report of the financial data of nonprofit organizations. It becomes all in one solution while tracking donor/grant management, financial reports, bank settlements, and budgeting, etc.
Nonprofit organizations always need time-saving accounting solutions to work with optimal efficiency. QuickBooks Enterprise Solution includes familiar language in QuickBooks’ standard invoices and customers such as pledge forms and donors.
What Signifies a Nonprofit Business?
Any organization, corporation, or association working for the welfare of the public, in general, comes under the category of nonprofit business. Every nonprofit business would have a mission: be it the progress of community, education, literature, health, science, protect women/children/animals from cruelty or any other charitable cause. Some of them are as follows:
- Labor organizations
- Political organizations
- Homeowner associations
- Chamber of Commerce
- Social welfare organizations
QuickBooks Enterprise – Unique Features for Nonprofits
QuickBooks Enterprise offers different choices in industries including the nonprofit version. The nonprofit version turns out to be more appropriate for your business only if you:
- Need to save time and add to the business efficiency
- Users need to simultaneously work on accounting files (up to 30)
- Want to make data files more secure by setting up permissions for users to limit their access
- Need advanced and custom options for reporting based on nonprofit programs/projects.
- Make accounting/reporting easier for those unfamiliar with the nonprofit industry
- Need to maintain and track both income and expenses class/category wise
- Need database limits as large as the capability to accommodate 100,000 vendors, customers, employees, or items.
Installation of the QuickBooks Enterprise nonprofit version makes sure there are some ready to use nonprofit reports available. It will cause less delay when it comes to delivering financial reports to donors or top board members, evaluating financial management, project cost, jobs completed, etc.
Use of Nonprofit Language in QuickBooks Enterprise
The nonprofit version of QuickBooks Enterprise includes many nonprofit languages like Donations, Donors, Programs, Pledges, Grants, Projects, IRS 990 form reporting, etc.
For instance, customers can be taken as donors, jobs as grants, sales receipts as donations, and invoices can be used for tacking pledges. Reports, statements, and form templates, the nonprofit terminology finds use in everything for thorough understanding.
A nonprofit business requires searching the menu lists quickly for the most commonly used task in the least possible time. QuickBooks Enterprise makes it easier by already keeping together some of the widely used vendor, customer, and transaction activities under a nonprofit menu list.
Users can avoid extensive search rather than use the same nonprofit menu list when it comes to preparing an invoice, make a deposit, or receiving a payment. QuickBooks Enterprise also helps in:
- Managing donors, budgets, grants and undertakings
- Distributing cost across many nonprofit programs/projects
- Posting fundraisings and expenses by sources
- Getting reports in the custom formats that nonprofit businesses want
QuickBooks Enterprise – Comprehensive Solution for Nonprofits
Every charitable and nonprofit business wants to manage their accounting in a simple yet efficient manner. It is necessary to accomplish them all quickly and correctly. A great reason QuickBooks Enterprise is seen as an all in one solution for nonprofits is that the maker – Intuit®- has not made it as any general accounting software rather the one that fits into the nonprofit industry very well.
Sometimes, Excel seems like a good alternative for nonprofit businesses from outside but the issue is that it does not have specific tools for the nonprofit industry. That’s why QuickBooks Enterprise is a better choice for nonprofits.
- Allows dividing data into smaller sections of nonprofit businesses (income, expenditure, liabilities, assets, funding source, location, grant, program, etc.) for separate reporting on them later.
- Includes a non-posting feature of sales order tracking that won’t appear in the general ledger. It will keep a record of funds that will come in the future.
- There is a set of nonprofit reports (Budget reports, Donor reports, and Statement reports) that can be pulled fast to deliver to staff, boards, donors, and the public very easily.
- Another plus of QuickBooks Enterprise is that it ensures time-saving tools. This nonprofit accounting software enables 1-30 users to work simultaneously without wasting time: working in two or more files at the same time and merge reports from different files.
Accounting can be faster and smarter for nonprofit businesses with QuickBooks Enterprise. This desktop version has special features for nonprofits, taking the business efficiency to its peak by addressing all the nonprofit accounting needs, QuickBooks Enterprise can be seen as all in one solution for nonprofit businesses all the time.