Expert: Linda Saltz, CPA, QBalance.com - 2/22/2006

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

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