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Igst invoice format for non-profit organizations

to take us away Greg that was so awesome okay we had our little dialogue before this okay you brought the heat today so y'all are in for a great webinar thank you so much for that so we are excited this is our very first webinar that's being taught about the abt's uh keeping your books for non-profits so you all know that you're all mute I want to go over a little housekeeping real quick um this is being recorded you're going to get the recording and the slides within 48 hours and that is amazing right so somebody's already turned on the closed caption if you need the closed caption just tap on the CC button at the bottom of your screen and if you learned something cool today why don't you share it out um hashtag techsoup and just so you know if you have to leave early you're going to get a survey that's going to pop up it's going to take you 30 seconds to complete we would love for you to complete that survey and now I am going to turn it over to Greg to introduce himself and the team see you guys all right all right so first of all thank you very much for joining uh uh second of all uh I am a CPA and I specialize in accounting uh for non-profit organizations all right so I've been accounting firm in Atlanta and uh all we do is teach non-profits how to use QuickBooks and we also uh have Consulting arrangements with them we have tech support agreements where we help them they call with questions we do about 35 or 40 um uh audits a year only of non-profits we do about 159 90s and growing there uh we do regular bookkeeping so um I have the accounting firm and then I also own QuickBooks Made Easy and uh QuickBooks Made Easy is um as you might imagine a uh a accounting uh I mean it's a it's a non-profit organization I'm trying to get to where it is here and all QuickBooks Made Easy does is train people on how to use QuickBooks and we do trainings all over the country um even outside of the country we also have all kinds of services that we offer but one of the uh things that we do is we do webinars and we do them for techsoup and uh Aretha you know we always do these QuickBooks webinars but um Aretha was like you know we really need to have a webinar that is just for people that need basic accounting stuff and so uh uh and boy howdy um was she right because we've got 428 people that are in on this call uh over a thousand people signed up and we'll be getting the recording so obviously this is absolutely needed all right so uh let's see what did I want to say also um ah so this is our team at this point um there are a couple of others but these are the people that you need to know um that's myself uh Paige Hudson Garcia uh is uh on in the background and she will be doing questions um usually when I do these webinars if you see me Teach before I have people put stuff in the chat don't do that do q a today because we have too many people on the call for me to even look at the chat so Paige will be handling q a in the back as well as question um yes her name is question all right so um both uh Paige who is up here uh and question who is down here are on the call right now uh and uh do you want to come and say hello people a question and page you want to just leave say hello to everybody hi everybody see you all today all right okay cool so they are both accountants that specialize in non-profit organizations I'm sure a number of you have already been working with them but anyway so they are here Barbara starley's not with us she just does houses of worship she's on vacation and then Bill Simms is in the background he's part of our marketing team so we are here to help you and today we're talking all about um let's see we're talking about accounting so this is our agenda oh thank you Stephanie look at that uh uh um this is what we're talking about today we're going to be oh by the way pay attention I mean I know it's free but pay attention okay so it's gonna be quite exciting all right so uh we're gonna talk about accounting we're going to Define it and how it works we're going to learn how to read financial statements uh we're going to understand and learn what the best reports are to give to the board of directors each month uh we're going to look at the three I'll say it again three important things that you need to track when you're entering transactions and then for those of you that are using QuickBooks at the end we're going to show you where the places are to track those three things in QuickBooks and then where to go to get some more information all right so if there's anybody that has never used Zoom before uh I will tell you uh how to make the screen uh bigger uh if you just kind of roll your mouse around where my face is you'll finally see this little thing that pops up view right here at the top right and if you push that and click full screen it'll make your screen go bloop and then you'll be able to see everything okay so um that's how to make the screen bigger and I think that is it I do have a couple of polls I want to point out so I'm going to pop up a poll right now and uh the first poll would be I'm just going to launch this one I am curious to see what accounting package you're using so I want every single solitary person and at this point we have 523 people on the call to please let me know are you using QuickBooks Online a QuickBooks desktop Sage which is also called Peachtree uh zero uh not too big in the United States but they're big in I think Australia if I'm not mistaken in the United Kingdom something else and then don't know or don't have one now um I am curious I told you not to use the chat for questions but those of you that said you're using something else besides QuickBooks Online desktop Sage or zero tell me what you're using um I'm curious as well wave and accounting software package I've never heard of these things I love the person that said Excel spreadsheet there's another one Abigail bless you my child all right all right so anyway um I'm gonna go ahead and um in the poll and I'm going to share the results just so that you can see it's kind of an interesting thing to see that over half of you are using QuickBooks Online a third of you are using QuickBooks desktop so we've got basically 90 percent of you are using QuickBooks of some sort and there's two-thirds of you using online versus one-third for desktop so I think you can see the writing on the wall of what's happening with QuickBooks desktop eventually everybody will be using QuickBooks desktop but that's not what we're here to talk about today we're here to talk about what is accounting okay so uh now you know there's people that take classes in that in college right and I know a lot of you were just kind of thrown into this thing it's like oh I gotta do the books and I don't know anything about books so um that's why it's important that you have a basic understanding of accounting otherwise you're kind of always going to be lost when you're trying to do reporting and stuff like that uh no no no Martha everybody is moving into QuickBooks Online not QuickBooks desktop okay all right so uh Accounting 101 what is accounting all right so accounting can really be summed up in this one slide accounting is a process it's a process of entering transactions all right you take your fingers and you enter transactions okay either that or you add them from a bank feed if you're in the online edition all the money going in and all the money going out and you enter all these transactions and they go through a list called the chart of accounts which is the backbone of your entire accounting system and then from there they go on to the financials and there's two financials that really are the whole ball of wax when it comes to accounting and that is the profit and loss and the balance sheet so all accounting is is entering transactions so that you can and and those transactions appear on those two reports and you use those reports to analyze your organization okay that's all accounting is entering transactions so they appear on these two reports okay so what I want to do is I want to start by defining how to read these two reports okay so the way I'm going to do that is I'm going to go into QuickBooks and I'm going to pull up a couple of these reports now I'm going to use desktop for a little while of QuickBooks and then I'm going to go to QuickBooks online and use that a little bit because it doesn't really matter which one I'm in a financial statement is a financial statement okay so uh first thing I'm going to do is I'm going to tell you there are two reports one of them is called the balance sheet so I'm going to pull up a balance sheet and I'm going to talk about what that means okay now the balance sheet there's another name for it does anybody know what the other name is and this isn't a question so you can put this in the chat um what's the other name of a balance sheet that non-profits call it does anybody know you can put it in the chat it's called the statement of financial position is what it's called somebody said the profit and loss no that's the other statement okay there's the balance sheet and there's the profit and loss we're talking about the balance sheet okay so which is also sometimes called the statement of financial position now the balance sheet you can think of it as a picture somebody took a camera and they went and they took a picture of your organization at a point in time this picture was taken on June 30 2025 and what this balance sheet records is basically well first of all the balance sheet is made up of a top half and a bottom half the top half is made up of something called assets and assets is just the stuff that your organization had when the picture was taken remember this is a snapshot click all right so it's the assets it's everything that they had and the bottom half is made up of liabilities and equity and liabilities and Equity equals assets they balance or equal that's why it's called a balance sheet if you ever pull up a balance sheet you'll see your total assets 129 605 liabilities plus Equity 129 605. assets equal liabilities and Equity okay so what are assets so let me stop sharing my screen here sorry about that um what are assets they're the things of value that you had in your organization on the date the picture was taken okay so on June 30 2025 we had some money in the bank we had a checking account we had a savings account these are assets these are things of value that we have we have some receivables we have some prepaid insurance we have furniture and Equipment that's something we have here's the deposit that we had when we rented our office space it's ours as long as we don't trash our office we get it back when we leave so it's an asset so these are all the assets we have 129 000. the bottom half which again equals the top half May is made up of two parts it's made up of liabilities and Equity now liabilities that's what you owed on the same date the picture was taken you see how valuable this is the balance sheet says this is everything I have and this is everything I owe I owe some payables I was some payroll liabilities I have a bank loan IO total amount of money I owe is 46 000. so assets as of June 30 I had 129 000 liabilities I had 46 000 that leaves equity now Equity is the one that freaks everybody out they don't understand what Equity is real easy Equity is the difference between what you have and what you owe okay I had 129 000 of assets I have 46 000 of liabilities the difference between the 129 minus the 46 Equity that's what's left over think about it it's it's the difference between what you have and what you owe hopefully it's a positive number hopefully you have more than you owe if you ever go to a bank or a bank loan you know they're going to be like okay you know I want to make sure that you have more than you owe but anyway um this is also this Equity is called net worth because it's like okay well uh uh what am I worth it's another way of saying what you're worth I don't mean to cast excursions on your value as a human being but on paper that's what you're worth eighty three thousand dollars another way of thinking about Equity is what's left over okay think about it if you went out of business on June 29th you have cash and fixed assets and stuff they worth 129 000 you can't keep them all they're not all left over because you got to pay off 46 000 of bills whatever's left over 83 000 that's yours that you can I guess donate to another non-profit okay it's kind of what's left over okay so that's the balance sheet it's very important that the board gets this balance sheet all right and I'll point it out again in a minute but this is going to tell them how much cash they have all right which is really important okay and it's going to tell them their net worth okay uh yes James All right so then the other report you tell me what's the other report that accounting is all about one is the balance sheet what's the other report put it in the chat yep it's the p l and what's another name for p l what's another name for a p l some people call it an income statement some people call it if you're a non-profit you're supposed to be calling it a statement of activity all right so um I want you to know that all accounting is is creating these two reports a balance sheet and a profit and loss and I'll say it again in a minute but the board should get both the balance sheet and the profit loss and the profit loss could be should be compared to a budget now what's the profit and loss well I will tell you this if the balance sheet is like a snapshot click the p l is more like a movie of transactions money coming in and out of the organization over a period of time that's why if you look the p l is from a certain date to a certain date whereas at least in the in the desktop version the balance sheet just has as of it's a point in time a frozen point in time this is a movie so it's kind of like if the balance sheet tells us what we look like now the p l tells us how we got there over a period of time okay and you can control what the period of time is so I'm going to make this this fiscal year and so now I've got a p l for the whole fiscal year there's money going in 264 000 that's income or Revenue there's money going out that's expenses 254 the very bottom net income 98.69 now I want you to notice something so what this tells us is this tells us during the year into June 3025 this non-profit ends on June 30. during the year into June 30 25 we basically earned 9 800 more than we expended okay that has nothing to do with how much money is in the bank what this tells us is what changed but what doesn't have the beginning balance okay if you want to know how much money's in the bank you have to go over to the balance sheet to see how much money's in the bank so the p l tells us well the balance sheet tells us what we look like now the p l gives the story of how we got there over a period of time okay so and honestly I want you to notice something else I'm going to push a little bit more here because I really want you to understand these two statements and how they relate to one another this is a little tough so listen very carefully remember how I told you that Equity is really what's left over it's your assets minus your liabilities it's what the difference is it's what's left over after you pay all your bills off if you're going to the p l the bottom of it it's the income less expenses for whatever time period we're talking about in that kind of what's left over too okay it is and that's what I said the equity is and if you notice one of the lines in equity is the net income from the p l okay and another way of saying it is the p l is kind of a blown up version of what makes up net income okay net income is 98.69 for the current year and it's blown up into all of these details all right now honestly if you add it up all of equity 83 000 and you looked at p l from the beginning of time it would equal the 83 000. if you're doing your accounting right okay um the p l is basically the total of all if you add all the panels together the equity is the total of all the P L's from the beginning of time okay so I'm gonna push a little further here and I'm going to tell you is all accounting is is to enter transactions so they end up on these two reports and all that happens is you enter a transaction say you're writing a check we'll go to write checks if you're in the online edition you might just get it from the bank feed but you're entering or adding a transaction that transaction hits at least two accounts in the chart of accounts not one but two and then from there the lines in the chart go on to the financial statements that's I thought that's accounting that's all accounting is so I'm going to open up the chart of accounts just so you can understand all accounting is you enter a transaction every transaction hits at least two accounts one of these is the bank account right here checking the other one is whatever expense account you want to put here we'll say it's office supplies so there's one account right here and one account right here every transaction hits at least two accounts when I go to the chart of accounts you'll see here's the checking account and if I go down to where the expenses are you'll see here's office supply so see every transaction hits at least two accounts in the chart of accounts and then from there the lines on this chart they make up the financial statements all right so I'll show you if you look at your the chart of accounts listing and you compare it to your balance sheet you're going to see checking savings Grant receivable checking savings Grant receivable the chart of accounts the chart of accounts uh is what informs what's on the balance sheet and I'll talk about the types if I have a chance a little bit later on but basically all of the types that are equity and above appear on the balance sheet and all of the types below Equity they appear on the p l so if I go down here we have individual contributions corporate Foundation grants we've got individual contributions corporate Foundation grants you see so when you start using an accounting software package the whole point is to create these two reports and all accounting is is entering transactions they go through this chart they go on to the reports so whatever is on this chart is determined determines what the reports look like and the order that things appear on this chart is the order that it appears on your reports okay so um all right so that is base basically uh the nuts and bolts but I want to test you okay so I'm going to ask you a couple of questions so uh please put the answers in the chat for this um all right so uh if I go to banking uh and I write a check all right for office supplies I'm going to go to the balance sheet what accounts get affected when I write a check for office supplies say I wrote it out of the checking account what are the two accounts that get affected checking and office supplies right so checking right here is it going to go up or down when I write a check is checking account going to go up or down when I write a check put it in the chat it's going to go down office supplies is over here so office supplies is it going to go up or is it going to go down office supplies will go up so what's net income going to do at the bottom is it going to go up or down after I write that check to office supplies is net income this 98 number what's it going to do it's going to go down and net income appears on the balance sheet right here so when you write that check it's going to make the checking account go down and it's going to make Equity go down that way it still balances does that make sense to y'all does that make sense I'm going to do one more this one's going to be harder and then we'll move on okay I'm gonna go to a bill so I'm going to enter a bill so let's say I enter a bill for office supplies okay so what accounts ha get affected when you enter a bill [Laughter] somebody said that she was confused and she didn't know how flapping my arms meant balancing I agree flapping my arms means I've been on I'm on too much medication anyway yeah the two accounts that get affected are the account that you put down here office supplies and the other account is Accounts Payable but there wasn't a place to type accounts payable foreign payable because you're entering a bill all right so have you all ever heard when people call people talk about uh single entry accounting versus double entry accounting when you're doing this you're only really putting one account in but it's still Double Entry accounting every transaction hits at least two accounts it's just that the other account is hidden here all right all right but anyway so as a matter of fact for those of you you probably don't know anything about accounting so I'm probably you know what I'm not even going to tell you because I want to move on all right so um the whole point of accounting is to create these two reports now the only other thing I need to say and somebody mentioned this is when you look at this report and I'm gonna change the date of this and I'm just going to make it for the month of June 0601 20 4 we'll say uh I'm sorry 06 0601 25. so now it's just the month of June and uh so let's see for the month of June it says I've lost 14 000 all right however the report basis this is the thing I want to talk about these reports appear in one of two bases or formats one is called a cruel base and this is an accrual base and the other one is called Cash base and when you look at Cash base you might see a different answer here so what's the difference between accrual and cash an accrual based report means that you've included all of your outstanding bills to vendors in other words somebody billed you and you hadn't paid them yet but it's already in the p l because you entered it on an inner bills screen you've accrued it okay the p l includes your outstanding bills does anybody invoice customers in QuickBooks does anybody invoice customers in QuickBooks North gross go Growers does um uh Donald Connie does uh Melanie does so if you do on an accrual based statement if you invoice somebody for say membership dues those say you invoice them in June it's going to appear on this p l even though you hadn't gotten the money in yet okay if your cash basis it won't appear until you've received the money okay so accrual includes your receivables and payables cash does not okay so then the obvious question is well should I give my board accrual based reports or should I give them cash based reports I would give them a cruel based reports because if I'm on your board I want to know the expenses for the month that were incurred regardless of whether or not you paid them plus I can look at a balance sheet and see if we have a lot of outstanding payables okay it's easy to change all you do is enter the outstanding bills that you haven't paid yet and then you're off to the races then every time you get an expense you just enter it as a bill and then when it comes time to pay it you pay it okay so all right I'm going to go back to my um deck because I want to make sure that I haven't forgotten anything these are just pretty little pictures that will explain to you what I've already explained to you uh and now I want to move on to what I should give the board each month okay uh Thomas wanted to know how to track the budget against the actual if you're using accrual well you would budget by accrual then or if you budget by cash you're in a cruel base person you enter your bills but when you do the reports compared to budget just flip it over to cash that's all you do okay and there's another thing going the thing about um QuickBooks is it's not like you keep your books in cash basis or you keep your books in a cruel basis you keep your books in both if you enter your bills to vendors to get caught up just your outstanding bills you can go back and forth at a push of a button okay so you keep your bills you keep your books in both bases okay um unpaid bills show up on the balance sheet somebody asked uh and accounts payable right there okay all right so um I'm gonna go to the online edition now for those of you that have been sitting there for the last 15 minutes going can you please use the online edition do you feel better now that I'm in the online edition let me know we got 603 people in the room by the way are you all enjoying yourselves because I'm getting ready to punch it up a notch okay all right so here we go so um here we are in the online edition and uh by the way I can get the same reports in the online edition you just go to reports reports this is where the reports are in the online edition and click on standard and then these are where all the reports are in the online edition here's where uh the balance sheet is and here's where your p l is and by the way um depending upon how you set up your QuickBooks yours might not say balance sheet it might say statement of financial position all right so I'll go ahead and and show you a couple of things while I'm in here for you online people um one thing when you click on this gear at the top right you're going to see something that says either switch to business view or switch to accounting view I'm in the accounting view because we don't like the business view but I could switch to business View and then it might look like the way that you guys see it if you're using business view but I don't really like it I feel like it's just harder to understand where things are so I like to go over to the accountant View so I'm going to do that all right so that's one thing uh so Linda says that the online is ridiculously expensive and does anybody want to tell her how wrong she is yes if you get it from techsoup it's 75 a year or for the advance it's 160 a year so it's very very cheap it's actually less expensive than the desktop version now which is 500 and something dollars a year and you can't get the newer versions through techsoup anyway so um we'll mention that again at the end the other thing I wanted to tell you online people is that if you want to change the title of the reports instead of balance sheet you want a statement of financial position I'm going to click on this gear here and I'm going to go to um account and settings these are the little preferences and if I click under company type and I change it to a non-profit organization um and I click save and I click done now because it's a non-profit organization when I refresh the screen I believe it should change the names I might be wrong uh yeah see how it changed it now it's statement of activity all right anyway enough of that so the next thing I want to teach you is what the three reports are well three actually I think there's only two uh the reports that you need to give to your board okay so each month and by the way you should give your board a report every single month two reports okay some people are like well the board only meets quarterly that's fine they should be meeting monthly but if they meet quarterly I still want you to send them a balance sheet and a profit and loss compared to budget every single month okay please do that okay anyway so um one is the balance sheet it's also known as the statement of financial position and when you do this um please address your questions in the Q a um and not the chat okay so chats are where you answer me but anyway so uh for the balance sheet I want you to know that um when you print it out do it after you have insured the numbers are correct on the balance sheet which means you want to reconcile your bank statements and your credit card statements you want to make sure that you've reconciled them in QuickBooks and if you don't know how to do that you definitely need some training but anyway that is not going to happen at the beginning of the month like today it's the third you have not been able to reconcile April yet okay you may have not even gotten all of your statements yet you want to wait until you've gotten everything reconciled before you give the board the report this is why you want board meetings to happen in the third week of the month or the fourth week of the month okay so you have time to get the books ready for the financial report all right so first of all you want to wait until you've reconciled the second thing is create it through the end of the previous month so when you report to the board on the balance sheet or statement of financial position it needs to be through the end of April because we haven't reconciled May yet okay so uh we do have a kind of sample chart of accounts Eric was wondering and Bill if you're listening we could probably make those available to you guys after the webinar is over um all right and then um the other thing I would say is add a comparison to the same date in the prior year because that way you can see as a board member this is how much money I have now this is how much money I had at the same point last year and that's a nice way to see how you're doing all right so it's better than comparing it to how much money you had at the beginning of the year because you know your money may go up and down throughout the year what if you get a lot of money in during the fall when you're in class but then it goes back down after the conference so you need to be comparing to the same time period so um and I'll just show you in QuickBooks uh how to do that there's actually in QuickBooks Online there's a little thing here that says uh let's see statement of activity comparison this one right here so I'll click on that one and then it'll give me the prior uh year I need to go ahead and make it for a date that I have some information in so hold on so 6 30 20. 25 all right there we go there we go and then you click here and you click previous year and I like to do the dollar difference and then I run the report I have to click it twice so there it is right there okay and just for those of you in desktop you can do it in the desktop as well reports profit and loss previous year comparison it's right there all right so um let's see so that is an important uh uh that's an important thing to do did I do a p l when I meant to do a balance sheet guys looks like I did let me do the balance sheet reports and I have it already memorized uh here it is right here there we go so now I can compare all right so the other thing that you want to do is you're going to want to do a p l but that one you're going to want to do compared to a budget all right so it's also called the statement of activity activity um and there's the actual and there's the budget I like to do a year to date a year to the last month so like in we're in may now so we would do year to date through April 30 and you would compare April 30 uh 23 to year to date through April 30 22 is what I would do again make sure all the numbers that you have are correct um you want to recreate the report through the end of the previous month we're in May so you would do it April 30 and then you want to add a comparison to budget all right so uh I'm gonna go into the online edition and it's important that you enter a budget all right in order to be able to do that and we have in our three-day training we show you how to do that I'm just going to go to where the budgeting is and uh here is a budget to actual report that I can run directly out of QuickBooks Online and somebody wanted to know if you could compute it by month uh somebody put that in the chat here and absolutely you can there is July's actual and July's budget and then the variance in dollar form and a variance in percent form but that's four columns just for July Fort Collins for August it's way too many columns uh and so that's not what I would give the board so I'm going to customize this thing and I'm going to change the grid being account versus total and then you get a little actual budget and then the variance okay and this is obviously really important okay because it Compares what you thought you were going to get with what you are going to get okay so um and notice how you could do it on cash basis or accrual basis so if you Budget on cash basis then when you print this report make sure that the report is on cash basis as well okay you can actually do multiple budgets for the same time period in QuickBooks Online in QuickBooks desktop so you could do one budget that's Cash basis and one budget that's accrual in QuickBooks desktop uh you can only do uh one budget uh you can only either do cash or accrual uh well there's kind of a special way to get around that but that's a little bit Advanced for this class but anyway I just want to show you you go to reports budgeting budget versus actual and that's what you're uh sending to your um to your board so uh again the two reports you need are the let me see here totally cool so uh are the balance sheet or statement of financial position with the prior year comparison and the p l compared to budget if you give them those two statements yes there's always going to be that one board member that wants a bunch of other stuff they're usually some corporate person who comes in coming in hot and they have all these demands and yes that person is going to be a challenge there's always that person uh so um but uh those two reports will get you where you need to go so um if you don't have a budgeting feature in Qbo that means that you don't have the type of QuickBooks online that has budgets and you'll need to upgrade so um fortunately you can get it from techsoup but to find out what version you have if you have QuickBooks Online you click on this gear again you click on account and settings and then you go to where it says billing and subscription and you can see that I've got QuickBooks Advanced so if you have QuickBooks Plus or QuickBooks Advanced then you will be able to um and so many people are asking about this a wreath I'm just going to go to techsoup and show them where they can buy QuickBooks Online I'm going to go ahead and click into it and here is uh I'll zoom in on it here's QuickBooks plus it has budgeting I'm sorry there it is QuickBooks plus has budgeting and QuickBooks Advanced has budgeting as well this is 160 a year and this is 75 a year when you're ready to upgrade to QuickBooks Online when you click on this to purchase it there's an ad to cart and if you check this box um you are purchasing a service that will migrate all of your QuickBooks desktop information up to the online edition and the person who will be doing that either her her staff is Paige uh she's in the background right now uh she does all these migrations for text soup and uh and uh she's up to she's done over a thousand okay so she knows what's going on here so um anyway so that's the deal with that um I'm gonna do a couple more things and then we're gonna open it up for questions uh and uh let's go back here I will a lot of what we've talked about today so far is just accounting um but I really wanted to get detailed into non-profit accounting um so when it comes to non-profits there are three things to track when you're entering transactions and this is I think probably the biggest problem people don't know about this particularly if they're coming from bookkeeping that's not in the non-profit world to bookkeeping that is in the nonprofit World okay so there are three things that when you you need to track when you're entering a transaction okay now the first thing is what I call the natural category in other words what is the it's let's say it's an expense what expense account is it and it's and what's your chart of account should be your natural category some people call it the object of the expense it's just the natural way of thinking about expenses some examples are salaries rent hostage you guys put in the chat what are some other natural expense account categories that you have um put it in the chat what are some natural categories travel utilities Building Maintenance Transportation Insurance travel office supplies training Vehicles ground okay Thomas Thomas had an expense account that he called programming Thomas front of the class or maybe it was Adrienne Adrian programs it was Adrian somebody else said it too Adrian and Thomas Adrian and Thomas this is what I need you to understand if you have an expense account called programs that's bad because when I look at your p l when I look at your p l report I'm going to see a line here called program expense and I don't know what that is those should not be your accounts your account should be what it is is it travel for the program is it salaries for the program is it rent for the program is it poses for the program so your chart of accounts list does should not say program it should not say uh admin it should not say operations and you should not have an account called fundraising okay period okay so what you want instead for those things and it is important that you know whether your expenses are programming in nature or fundraising or admin those are kind of the three buckets that you also have to point your expenses to so the second thing you need to track is what program it goes to what function it is okay and we're going to use the class feature for that so what I mean by that is that non-profits have to in addition to categorizing by the type of account they also got to say whether it was in one of three buckets the program bucket the fundraising bucket or the admin bucket the point is that when funders look at you they want to know that most of the money that you spend goes to helping the children okay and most of your expenses usually will be program related but some of your expenses like your QuickBooks subscription is an admin cost it doesn't directly help the kids all right and so that goes to your admin bucket and then if you take people out to eat for lunch donors or maybe you has of a subscription for neon or little green light or something like that which is a CRM that goes into the fundraising bucket so the expense account would be subscriptions and the class would be fundraising you see so those are two things you have to track and Tamara I'm telling you right now what the benefit of it is so program a program B admin fundraising the benefit of it is when I look at a p l here's a p l but I can look at it by class so let me look at it by class and now it's such a beautiful thing so now I can see it's like a spreadsheet and I can see that I spent on The Guidance Center 119 000 on the Synergy conference 48 000 on the aware campaign ten thousand when you're writing grants for programs they need to know how much it costs per program you also get to find out what your total is total programs 178 admin 55 fundraising 20. all right so I can see what percent of my expenses go for program and funders usually want 75 percent of your expenses to be program related and if you don't believe me that this is not important if you're thinking this isn't really important you have to report it that way on the PDF of your of your 990 you have to report it on a 990 that way here's your 990 this is the information return that you'll have to fill out unless your house of worship um but here's the expenses the rows are going to be the natural categories okay advertising office they call occupancy rent here's travel here's salaries but the columns one column for program one column for management General that's admin one column for fundraising so this is probably the biggest thing that I can teach you if you are going to be doing accounting for a non-profit you must have not only the you must tell every transaction you enter not only what the account is the natural category travel supplies rent but also whether it was a program admin or fundraising expense all right so it's very very important Robin is telling us uh in the chat it's very very important but there is a third thing that you also need to track now not everybody needs to do the third thing but it has to do with grants does anybody get grants anybody get grants of course you do is there anybody that needs to track how those Grant dollars were spent somebody said they were 100 grass Grant based okay so there is a place to track that as well so this is a third thing that you need to track when you're entering transactions you need to enter what Grant paid for it the United Foundation Grant 2425 the city council contract 24. the ABC Corporation Grant so those are three things that you need to track so I'm telling you right now every time you enter a transaction into your accounting software package you need to track three things you need to track the natural category which you can do in QuickBooks using the account the expense account you need to track the program and that's the um you use the class feature for that and you need to track what Grant paid for it and you're supposed to use the customer job feature for that okay so uh all right so this is vitally vitally important all right so um this is probably the most important slide in the whole deck um and uh Linda had just I had a two-hour webinar on tracking restricted grants um that I taught last week Linda is telling everybody to um to sign up for it if I do it again Live Well I can do you one better than that if you go to my website and you go to webinars uh you can actually purchase it there's the one that I did for the desktop users here's the one that I did for the online users and it teaches you exactly how to uh track QuickBooks uh track uh budgets I'm sorry track grants in QuickBooks okay there's a PowerPoint but you really need to record you'll get a PowerPoint as well but you really need to watch the recording it will I think the power that's an interesting question bill I wonder if we email or attach the PowerPoint when they sign up for the on demand that's interesting anyway so um before I turn it over for questions I wanted to say to you that if you are new to QuickBooks or you've been using QuickBooks for a while and you just really want to get some training in it we have our three-day webinar series coming up it's coming up this month and it's um two and a half hours a day don't worry we take two breaks each day and will play music and we'll enjoy ourselves and we'll learn quickity books it's actually much better than a whole one day class because you can just think about what you've learned for a couple hours you can think about it all night long and then the next day you pick up where you left off it gives you time for information to absorb you can play it around with your software but anyway it's happening the 23rd to 24th and the 25th for those of you using desktop if you're using online it's happening uh the 30th the first and the second and I'll just click on this and you can click on it and see what all of the topics are let me just get this thing to open up here but it's basically everything that you could ever imagine about quickity books uh I don't know why it's taking so long there it is all right cool so um this is everything we're covering day one this is everything we're covering on day two this is everything we're covering on day three look at this credit cards pledges restricted grants this isn't as detailed as that restricted grants webinar special fundraising events getting thank you letters donor year and acknowledgments and kind contributions so this is all advanced stuff on day three day two is everything you can imagine about your kind of nuts and bolts transactions entering grants entering donations pointing expenses to programs in addition to expense accounts and then day one is all about setups it's all about setup uh so again the the online one is happening May 30 The First and the second and the desktop one is happening the week before all right so let me go back over here so you can see and the thing I wanted yeah May has 31 days so it's May 30th May 31st and June 1st I don't think so I don't know it does I absolutely does not I have a nursery rhyme that I can teach you okay foreign well let's do that after the webinar is over Jennifer was correcting me and now she tells you the rest well look at Jennifer's like dude my birthday's May the 31st all right cool all right so um anyway and the thing that um I want to give you a discount on coming to this thing it's 299 for the three days normally uh there it is 299 right here 299 but uh we're gonna give you a coupon for forty dollars off um and the coupon is T soup 40. tea soup 40s so at checkout you put that in and instead of 299 it's going to be 259. all right that's so embarrassing I thought they were 30 days maybe I'm wrong all right anyway enough of that uh and there's also some discounts here but uh on our tech support uh and on our on-demand training you can actually just sign up with tech support for us um and then the last thing I'll say is if you are using QuickBooks online or uh QuickBooks desktop but if you're using QuickBooks desktop and you want to move to QuickBooks Online um again you can do that through the um Tech soup and if you're paying a monthly fee for QuickBooks Online you definitely need to sign up through techsoup all right so we've still got 570 people on the call and I am ready with questions so I'm going to ask either page or question I don't know looks like there's been wow 90 questions answered but a page or question do you want to like is there something that you want to read to me live that you think everybody wants to know about um so that uh uh um you know I can tell everybody in the group I hi this is Paige I definitely recommend for a lot of our questions that we're seeing that are on the more advanced topics I am absolutely going to recommend that three-day webinar series for you guys because the one of the most comprehensive uh training days out there and of course you already know you'll have a good time so that's what I have okay question is there anything in particular that you noticed when you were um when you were answering questions that you wanted to say just just a lot of questions about um if the slides are going to be available oh okay yeah the slides are available and so is the recording you know um so both of these are both of these are available uh okay so we've only got like four minutes left um is there anything else anybody wants to ask if you have some burning question uh do you have trainings that we can to become certified QuickBooks experts so you know QuickBooks has their own certification program um that I would advise you to take a look at um but if you're looking for non-profit training um we're the only way to go um Lionel Rodriguez had a good comment and we cover this in the um tracking restricted grants thing about allocating grants to different I'm allocating salaries to different grants is probably the most difficult and challenging portion of the whole thing um the webinar does go through setup uh Laura we also have a service on our website that will help you set up your books if you need to in QuickBooks if you go to our QuickBooks website here QuickBooks Made Easy and you click on non-profit Services you will see one that's called a file setup that we can do for you all right we don't have a manual training uh that you can read but we do have online training on demand and this bundle is 16 hours long and it goes through every single thing you could ever imagine about learning QuickBooks it's even more uh full than our three-day training and we it's normally 3.99 and we're we have a coupon in here for you as well for this bundle it's only ts298 and then you get a hundred dollars off okay all right uh so I'm going to turn it back over to techsoup because they have a couple of things that they want to talk about if I'm not mistaken yeah Allison are you all with us sorry can you hear me okay great yes we can I I just wanted to mention I popped into the chat as well thank you so much Greg and Michelle and every page everyone who came to the this woman I learned a lot I'm having so much fun um I just popped in the chat a upcoming promotion that we're also doing in partnership with QuickBooks Made Easy and that will run on 15th through the 29th and it'll be attended on admin fees for a couple of products both for the Quickbooks data migration um it's a bundled the Christmas data migration and uh with their one a couple of their training products that was opportunity offers through Tennessee so I wanted to highlight that and get everyone excited for that as well coming in mid-may through that minimum okay yeah because one of our training products is offered on techsoup and it's right now it's offered as a standalone and then this migration thing when you go to QuickBooks online or convert from a non-tech soup to a tech soup uh online is is a standalone but we're going to be offering it as a bundle so I appreciate that uh Allison thank you yeah really excited to have this and really glad to have you guys come Bard um support this as well I think it's great for organizations who are kind of uncertain about moving from desktop to the online product really wanting to expert guidance both for themselves as well as just some help from Paige as well yeah um Pastor uh Camellia wanted to know how do you purchase the second year through techsoup of QuickBooks Online how does that work by the way if you have a tech soup online does it just automatically renew and y'all take your fee or how does that work yeah so there's this yeah for the renewal through techsoup there's a subscription so we'll probably get a better at putting in a bit of a tour article around this but you'll see I think 30 days before your renewal date you'll see that pop up in your account section of the techsoup.org site um and then you can essentially pay okay but you'll get you provide your payment information and you can be charged on your renewal date okay um one thing I wanted to point out too somebody wanted to know if I did sign up for tech support so if you go to QuickBooks Made Easy and you click tech support um you can sign up for a tech support agreement for a year um you can type desktop or online um and we're going to give you 200 off of that I'll show you that coupon in a second and what does it cover any question that you have related to QuickBooks no matter how difficult or easy we can answer it it's either going to be myself Barbara page or question all right that will be answering the questions we can do it online we can do it over the phone we can also create um uh meetings send you a link and you can set up an appointment and we can remote into your data file and have a meeting with you and it's really unlimited to be completely honest with you um so yes I do audits as well um the accounting firm does audits but anyway all right so um who wants to finish up here because I'm sure yeah we're right we're one minute over although we still have 450 people on the call it's exciting it's been great we got to do this again the other year at least yeah I agree I agree so thank you everybody you're beginning recording within 48 hours probably tomorrow with the slides and make sure you join the next webinar that Greg is going to be doing um on May 18th so just go to techsoup and look at the webinar list and we'll see you then have a great day everybody bye-bye bye