Nonprofit: Tracking Donations and Expenses
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Read step-by-step instructions
When you first set up your company in QuickBooks, set your company type to “nonprofit.”
When you’re entering your company information, select Non profit for both your Industry and Business Type.
Turn on classes.
Click the gear icon, then on Company Settings.
Scroll down to the Categories settings.
Select Track classes…
…and Warn me when a transaction isn’t assigned a class.
Click Save…
…then Done.
Add a new class for each fund and program.
Click the gear icon then All Lists.
Click Classes…
…then New.
Enter a name for the class, such as General & Administration of Fundraising. Click Save.
When a donor pledges a donation, create a pledge to track this.
Click the Plus, then Pledge.
Enter the information about the donor and their pledge. Be sure you use the Class list to assign the pledge to a program or fund.
Click Save and Send.
Add the donor’s email address and send the pledge.
At the next to the donor’s name, enter her email address.
Click Save and Send.
If your donor makes their donation right away, send her a receipt.
Click the Plus sign then Receipt.
Fill in the information about the donor and the donation. Don’t forget to assign a class.
To send statements for donations, first customize the default message that your donors will see with their statements.
Click the gear icon then Company Settings.
Click Sales…
…and scroll down to Messages.
For Sales form…
…select Statement.
Then enter a customized email message.
When you’re finished, click Done.
Create a Transaction statements that includes both receipts and pledges.
Click the Plus sign then Statement.
For the Statement Type, choose Transaction Statement. Set the date range for the time period you want to include on the statement.
Click Save and Send.
To track money you spend, create an expenditure.
Click the Plus sign then Expenditure.
You can add multiple lines to an expenditure if it applies to more than one program. Be sure to use classes for each expenditure.
Use reports to get a picture of your finances.
On the home page, click Reports.
Statement of Activity is a common report.
You can customize by classes.
On the report, click Customize.
Choose Lists.
Under the “Classes” dropdown menu…
…choose “General and Admin.”
From here, you can finish by selecting “Run Report.”
