Instead of landing directly on the features, let’s first have a look at the non-profit businesses. Any business that comes up with the motto of doing better for the general public is a Non-profit business. These businesses, in any form, are connected with society to perform social ethics like the upliftment of religion, education, science, and/or prevention of women, children, and animals.
Features of QuickBooks for Non Profits Business
- Charity or Social Welfare Organizations
- Political Organizations
- Schools
- Labor Organizations and other associations.
Non-profit features are in addition to the existing features of QuickBooks Desktop.
- Pledges: You can easily create new pledges and manage them. While creating the pledge, you can easily take the record of the class, description, item, tax, and amount.
- Donations: All the payments made by e-check, cash, debit card, check, or credit card
- Products/Programs: The Products/Programs help you track specific programs or projects run with the help of a nonprofit.
- Donor Letters: With the help of QuickBooks Nonprofit Enterprise and Premier, a donor’s letter can be created with the help of letter templates.
- Customized Chart Of Accounts: A default chart of accounts is included in it that is specifically designed for it. However, the chart of account customization is also available as per the needs of the organization.
- Nonprofit Reports: This means that you can access additional nonprofit reports in addition to the existing report. These reports are available in the QuickBooks Premier and QuickBooks Enterprise versions.
Track Data Segmentation based on Class
While setting up the company file in QuickBooks Desktop, you can turn on the class tracking. Your assets, liabilities, income, and expenses break down into different classes. You can also define different classes like administration type, grant, fundraising, funding source, and location. The class categorizes the sections of the businesses and the additional information goes into sub-sections.
The only negative factor with the non-profit edition of QuickBooks Enterprise and QuickBooks Premier is that the title of the contact can’t be changed. So, all your donors will be called employees and customers within the software.