![]() (You can also set up sub-accounts if necessary – for example, if you have several staff credit cards listed under a primary account.) These accounts should be regularly reconciled to your bank statements to ensure that all transactions have been recorded. ![]() With QuickBooks Online, you have several main categories for tracking your nonprofit finances:īank and Credit Card Accounts – This is where money is received or spent. Classes form an additional layer of organization in your financial records, allowing you to categorize a transaction in more detail. While some organizations choose to invest in accounting software specifically designed for nonprofits, many not-for-profit organizations prefer using QuickBooks Online for its ability to integrate with third-party applications for payroll processing, bill payments, sales platforms and more.įortunately, QuickBooks Online also makes it easy to keep track of grants and see the balance of your different funds at any given time. It’s also important to know how much of each type of funding you have available. ![]() Restricted funds can only be spent on specific programs or projects, so it’s crucial to know exactly where those funds are going. Not every nonprofit organization receives grants, but those that do know how difficult it can be to keep track of these funds. ![]()
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