QuickBooks presents a smooth way for corporations and individuals to track their Income & Expenses and preserve their Financial Health. Accounting, Payment Management, Invoicing, Reporting, etc., are some of the features that QuickBooks has to offer. However, Nonprofits have their unique economic needs. They need to maintain transparency in terms of Financial Transactions and Assets. Currently, QuickBooks is not specially designed for Non-profits, still, these companies can benefit from its rich feature set.

This article will introduce you to QuickBooks and will explain how the concept of QuickBooks for Nonprofits works. It will also discuss the types of Nonprofits that QuickBooks can support. Furthermore, the article will list down the different versions of QuickBooks and their usefulness and pricing schemes for Nonprofits. Read along to learn more about using QuickBooks for Nonprofits!

Key Features of QuickBooks The various products of QuickBooks offer different features to its users. However, in general, QuickBooks offers the following features:

Reporting: QuickBooks has an upper hand over accounting solutions like spreadsheets when it comes to reporting. It is primarily due to the simplicity with which QuickBooks allows you to create reports and graphs. QuickBooks provides a feature called QuickBooks accountant that can automate most of the reporting tasks such as maintaining balance sheets, generating profit and loss sheets, maintaining cash flow statements, etc.

Data Sharing: Using QuickBooks, you can share your data as journal entries directly to clients. This saves you the trouble of printing documents or creating PDFs to transfer your data. You can simply send the journal entries in the form of email attachments. Furthermore, QuickBooks supports widgets that can catch common errors and notify you in case there is a problem or inconsistency in any account.

Invoicing: QuickBooks enables you to generate Quotations that contain Discounts, Terms of Payment, and other important details. Once you have registered the details, you can convert the Quotation into an invoice with just one click. Moreover, you can customize your payment schedules to receive your money without any clashes or confusion.

Tracking your Finances: QuickBooks allows you to track your expenses like payroll and rent and monitor your income as well. This way you can always have an accurate estimate of your Financial Health. Furthermore, QuickBooks automatically updates any Cash inflow or outflow related to your accounts and collaborates the data from various accounts into one single platform.

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