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Customize the Account and Settings in QuickBooks Online for Nonprofit - YouTube
Channel: Goshen Accounting Services
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Welcome to QuickBooks Online for Nonprofits.
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I am Ufuoma Ogaga, Owner of Goshen ...
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Bookkeeping & Consulting.
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I am a Financial Controller and a QuickBooks ProAdvisor ...
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helping nonprofits to increase profitability one mission at a ...
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time. In continuing with our ...
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QuickBooks Online navigation training,
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I will show you how to customize your QuickBooks ...
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account and settings.
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Click on the Gear Icon, select account and settings.
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There are 5 major categories of settings for your company ...
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file. Depending on the version of ...
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QuickBooks that you have and if you are not using ...
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QuickBooks Online Plus, you may or may not see all ...
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five tabs. These settings are the things ...
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you need to change when you first log into QuickBooks ...
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Online and before you start recording transactions.
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The Company settings tab includes information about ...
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your company such as your nonprofit name,
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address, company logo,
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Federal EIN, company type (tax return and ...
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industry), contact information and your ...
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physical or mailing address in the system.
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Here you can add your nonprofit logo by uploading a ...
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copy to QuickBooks Online. You can select the Form 990 ...
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as your tax return and you can enter the religous,
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civic making, professional,
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and similiar organization as your industry type.
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The Billing and Subscription tab tells what subscription ...
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status is, the type QuickBooks plan ...
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you have, and the next time your card ...
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will be charged. You will also see any ...
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subscriptions for QuickBooks payroll and merchant ...
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payment processing. The Company ID field is ...
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Intuit's ID for your company. If call QuickBooks Online ...
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tech support, this the number they will ask ...
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you for on the call.
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The Sales tab is where you can customize and set the ...
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default information for your sales forms.
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Here you can customize the look and feel of your sales ...
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forms. You can turn on some of the ...
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sales form content such as the custom fields,
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custom transactions numbers if you want to use your own ...
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numbering sequence, and set your preferred invoice terms.
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To track how you get your money in your nonprofit,
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you need to turn on products and services and quantity ...
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and price and rate. You can use progress ...
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invoicing to bill your donors, members or grant entities in ...
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installment increments from an estimate form in ...
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QuickBooks Online.
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You can customize the sales form email messages to ...
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include your nonprofit's key messages.
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Think of your sales forms as another marketing material.
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So I recommend customizing it to match your branding and ...
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to reinforce your mission. I also recommend copying or ...
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blind copying yourself in all emails your send out of ...
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QuickBooks Online to make sure the end user receives ...
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them. You can also customize the ...
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message that is sent with reminders to remind your ...
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customers to pay their invoices if you are using the ...
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invoicing function of QuickBooks Online.
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You can choose the online delivery method for sending ...
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sales forms to your customers.
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You can create year-end donation statements or ...
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account balance statements using the statements option.
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You can also turn on the option to display an aging ...
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table at the bottom of invoices to your customers.
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The Expenses tab includes settings that tells QuickBooks ...
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Online how to handle your reimbursable expenses and ...
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the default settings for bills and purchase orders.
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Here you have the option of using products and services ...
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as items on expense forms. I do recommend turning this ...
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option on. If you are a regular nonprofit ...
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that is tracking grants and doing job costing allocations ...
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or if you are a church with a committee tracking expenses,
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you will need to use products and services as items on ...
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expense forms and turn on the track expenses by ...
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customer option. You can setup your donors,
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grant entities, church committees,
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and sponsors as customers in QuickBooks Online.
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If you have or track billable expenses for employee ...
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reimbursements or to bill back to a committee or grant ...
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entity, you can turn on the billable ...
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feature and select a billable income account.
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Default bill payment terms, purchase orders and ...
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messages with purchase order can be used if necessary.
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The payments tab is the place where you can sign up ...
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for a QuickBooks Payments account to accept credit card ...
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payments and ACH payments seamlessly ...
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through QuickBooks's emailed invoices.
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ACH bank transfers are totally free.
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And typically takes any where from 5-7 business days for ...
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you to receive your funds. I do recommend working with ...
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a QuickBooks ProAdvisor Reseller partner to get better ...
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credit card discount rates if you want that option.
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The final tab is the Advanced tab.
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Here you can set the fiscal year or calendar year of your ...
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tax filings and choose your accounting method as cash ...
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or accrual for reports. You can also set a password ...
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to close your books for a period.
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The password option is great to use if you have reconcile ...
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and closed your books for a prior fiscal year and don't ...
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want others make changes to the transactions.
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The tax form that you selected in the Company tab ...
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will also appear as your company type here.
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Since QuickBooks Online does not give you any ability ...
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organize the chart of accounts without numbers,
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you have to turn on enable account numbers and check ...
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the box next to show account numbers.
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Categories is only avaliable in the Plus version of ...
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QuickBooks Online. As a nonprofit,
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you need to track your income and expenditures ...
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using classes to get the statement of functional ...
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expenses for your Form 990. So turn on classes.
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You also need to track the conditions of your funds,
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whether they are restricted by a donor or unrestricted,
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so turn on locations and choose the division or ...
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department option as your label.
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For automation, turn on the options for pre-fill ...
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forms with previously entered content,
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and the automatically apply credits and automatically ...
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apply bill payments.
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The projects feature is a new feature that was introduced in ...
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2018 that you can also use to track one-time project income ...
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and expenses all in one place.
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It is still a new work in progess feature that Intuit is ...
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still fine-tuning and enhancing.
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As of right now, I don't recommend my ...
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nonprofits to use this feature.
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Turn on the time tracking feature only if you are using ...
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QuickBooks Online payroll system.
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Under preferences, you can change the date and ...
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number format. You change your customer ...
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label to donors or members or whatever you call your ...
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contribution stakeholders. If you do invoice people out ...
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of QuickBooks Online, I recommend leaving the ...
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label as the default option - customers.
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To prevent duplication of checks and bill numbers,
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turn on these two options. If you tend to stay in ...
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QuickBooks Online longer, you can extend the inactive ...
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timer to up to 3 hours.
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Click Done to finish customizing your account and settings.
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That is everything you need to know to customize your ...
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QuickBooks account and settings.
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In the next video, I will show you how to add ...
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and manage users in QuickBooks Online.
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Thank you for watching!
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