AboutLinda Saltz, CPA, QBalance.com Expertise QuickBooks best practices, troubleshooting, accounting, tax
We have over 70 pages of website content about QuickBooks tips,
running a business, tax and business startup at http://www.qbalance.com
Experience Accountant and CPA over 20 years. Specializing in accounting software for over 12 years, Certified QuickBooks Pro Advisor, QuickBooks seminar instructor since 1997.
Producer of www.QBalance.com over 100 pages devoted to QuickBooks help and support
and training for small business owners in tax and accounting issues.
Question I have just become treasurer of a small, non-profit support group and would like to update the recordkeeping. Rather than needing traditional accounting statements, I need to track changes to several funds. Is this something that Quickbooks could do? The records are not subject to audit, just annual CPA review. Thank you.
Answer Hi Laura,
I cannot picture exactly the reports that you need.
QuickBooks does not generate a report that shows opening cash balance less transfers to xyz account plus receipts from abc account less expenditures for Department A
What it does provide
Profit & Loss tracking by class (department/activity)
What it does not do
Balance Sheet by Class (department/activity)
For the price its a terrific package, so if you can find a way to make it work for you, I highly recommend it.
In QuickBooks you can use items to track deposits and disbursements.
If you set up an item list
Fund A
Transfer in from xbc
Transfer out to xyz
Salaries paid
Office Expenses
Program expenses
Donations
Fund B
Transfer in from xbc
Transfer out to xyz
Salaries paid
Office Expenses
Program expenses
Donations
You could print a report with this information, but it will not include beginning and ending cash balances.
You could export this report into excel- with one click(no programming needed) and add those balances to get a complete report
Items that are transfer items.. need to be pointed to an exchange account (one that zeros out each day) if you are to get the transfers in and out working correctly.
I do believe you will need help getting QuickBooks set up properly to make this work for you.
LInda Saltz, CPA
Certified QuickBooks Advisor
www.QBalance.com
We sell QuickBooks software, checks & supplies, and provide QuickBooks support & training.
