Why QuickBooks Online For Nonprofits Is The Top Accounting Software for Nonprofit Organizations
As a nonprofit organization, you have many moving parts to track. And with so much on your plate, it can be easy to let the financial side of things fall by the wayside.
But managing your finances is crucial to keeping your church running smoothly. That’s where QuickBooks Online comes in.
QuickBooks Online is an accounting software that helps you manage all aspects of your finances, from tracking donations and expenses to preparing for tax time. And because it’s cloud-based, you can access your financial information anywhere.
Our church insurance agency recently switched from the QuickBooks desktop version 2014 to Quickbooks online, and payroll services, and it was the best decision we could have made.
What is QuickBooks Accounting Online Business Account for Nonprofits?
QuickBooks for nonprofits is a cloud-based accounting software designed to help small business manage their bookkeeping and accounting. It is optimized for small nonprofit organizations, churches, and religious groups and can be accessed through a web browser or the associated mobile app for Apple and Android.
With QuickBooks Online, users can access their accounting platform from anywhere with internet access, making it easier to do business on the go. It offers a range of features and functionalities, including custom feeds, charts, invoices, payment features, inventory tracking, payroll, and more, all at a monthly or annual cost.
QuickBooks accounting software for nonprofits is available for up to 5 users, and updates are automatic without downloading a package. The online version of the QuickBooks product allows board members to review and make changes to reports instantly and maintain control of their nonprofit accounting system.
As a nonprofit organization, it is vital to maintain a donor management system when fundraising, and QuickBooks offers the perfect nonprofit accounting software designed specifically for the nonprofit sector.
Top Reasons to Use Intuit QuickBooks Online Plus Versus QuickBooks Desktop?
QuickBooks Online (QBO) and QuickBooks Desktop (QBD) are the most popular accounting solutions. Both offer comprehensive features, but several advantages are unique to QuickBooks Online.
One of the strongest benefits of QBO is its accessibility. Small nonprofit organizations can access their software through any web browser and a desktop app on their mobile device and tablets (iOS and Android). Additionally, QBO offers automatic data backup and includes data security, providing you with mobile access to help protect critical business information.
Smaller nonprofits can access four different plans and integration options that allow religious organizations to customize QuickBooks Online to meet their business’s needs. QBO also offers hundreds of third-party bookkeeping, productivity, and accounting tools, as well as the ability to connect the QuickBooks payroll options. If you’re missing a capability, there will more than likely be an add-on you can use to fill the gap.
QuickBooks online nonprofit software allows organizations to quickly link their online banking and credit cards for seamless integration. This is where the magic happens in speeding up your monthly accounting.
Finally, QuickBooks Online for churches is “accountant approved,” making collaborating with an outside accountant or bookkeeper easier. Since most savvy accountants already use QuickBooks online, you can avoid compatibility issues.
QuickBooks Online offers accessible, comprehensive features for your nonprofit’s bookkeeping and accounting, making it a worthy option for businesses of all shapes and sizes.
What are the Steps on how to set up Quickbooks online?
Integrity Now Insurance Brokers has made it easy for our church and nonprofit clients to sign up with QuickBooks Online. The following link gives you access to 6 months of discounted services, including 30 percent off of both Quickbooks Online and Payroll Services.
Click on this link to get started, and then follow the below instructions: Sign Up For Quickbooks Online For Nonprofits
- Step 1: Select a license type
- Step 2: Set up an account
- Step 3: Configure your settings
- Step 4: Customize your workspace
- Step 5: Set up your invoices
- Step 6: Manage your finances
- Step 7: Perform accounting tasks
- Step 8: Monitor your bookkeeper activities
- Step 9: Enjoy your new cloud-based accounting system
What QuickBooks Online Plans are Available?
QuickBooks: Simple Start
QuickBooks Simple Start is an accounting software package that provides basic bookkeeping tools to help small businesses get started. This option is designed for individuals and is not an excellent option for nonprofit organizations due to limitations and restrictions.
QuickBooks: Essentials
The QuickBooks Essentials plan includes features such as tracking income and expenses, invoicing and accepting payments, maximizing tax deductions, running enhanced reports, capturing and organizing receipts, tracking miles, tracking sales and sales tax, sending estimates, managing 1099 contractors, managing and paying bills, tracking time and includes up to three users. QuickBooks essentials plan is designed specifically for nonprofits as it provides custom reports to meet most church organizations’ needs.
QuickBooks: Plus
The QuickBooks Plus plan includes features such as double entry, all major A/R and A/P forms, mobile access, time tracking, payroll, job costing, project profitability dashboards and reports, inventory tracking, product tracking, cost of goods tracking, purchase order creation, vendor management, notifications when inventory is low, 65 built-in business reports, and the ability to attach up to five users to an account.
QuickBooks: Advanced
The QuickBooks Online Advanced plan provides all the features of the other plans plus additional solutions for your nonprofit. A larger nonprofit may need this QuickBooks online subscription level to meet the additional resources provided.
Which QuickBooks Online Plan Should I Signup for as a Nonprofit Organization?
If you’re a small to medium size nonprofit organization looking to sign up for QuickBooks Online, the best plan for you is QuickBooks Online Plus.
This plan has advanced features for up to five users and is specifically designed to help nonprofits manage their finances, file form 990, and file taxes. With this subscription, you’ll have access to basic inventory management, purchase, and sales orders, and you can even set up trigger alerts for when you need to reorder an item. Also, the five-user limit should be enough for most organizations.
If you’re looking for more features than what’s available in the Plus plan, you may want to consider QuickBooks Online Advanced, 1-Year Subscription, 25 Users. This plan provides advanced features and allows up to 25 users, making it better suited for larger organizations.
Should we Sign up for QuickBooks Payroll?
Few can compare to Intuit QuickBooks Payroll when it comes to payroll services. They offer three different levels of integrated payroll – Core, Premium, and Elite – and a variety of add-ons and third-party applications. Plus, when you sign up through Integrity Now Insurance Brokers, you can access 30% off for a six-month discount.
QuickBooks Online also provides many other features that make bookkeeping more straightforward and efficient. For example, it has a fast and customized setup with a certified bookkeeper and tracking capabilities with the TSheets time-tracking app.
QuickBooks Payroll is the ideal solution for businesses looking for an efficient and cost-effective way to manage their payroll. With its comprehensive features, discounts, and add-ons, QuickBooks Payroll is worth signing up for.
We found that QuickBooks Payroll does not nickel and dime you for value-added services like no-cost direct deposit of payroll, and they charge a single monthly payroll charge, not a per payroll charge. You can run payroll four times monthly and are charged the same monthly fee.
Most churches and nonprofit organizations have found that their payroll costs are substantially lower with QuickBooks than their current payroll provider.
What features does QuickBooks Online offer?
QuickBooks Online offers many features to help houses of worship manage their finances. These features include invoicing, estimates, client portals, contact management, expense tracking, bank reconciliation, chart of accounts, accounts payable (Essentials plan and up), inventory (Plus plan and up), time tracking (Essentials plan and up), project management (Plus plan and up), budgeting (Plus plan and up), tax support, reporting, and data backup and security. QuickBooks Online also integrates with other apps and third-party tools and provides customer support resources.
What are the benefits of QuickBooks Online for nonprofits?
The benefits of QuickBooks Online for nonprofits are plentiful. It is easy to set up and use, with a few questions about the business quickly customizing the software. The attractive and intuitive interface makes it easy to glance at graphs to view sales performance, cash flow, income, profit and loss statements, and expenses. Customizing the date range when working with interactive graphs is a great feature.
QuickBooks Online allows you to customize invoices and forms with several templates, fonts, and accent colors.
QuickBooks Online offers a range of features for record-keeping and reporting. You can add reference numbers, permit numbers, attachments, memos, and split expenses into multiple categories. Plus, with higher-level plans, you can track inventory, do job costing, and create custom tags and reports based on where you make and spend money.
How much is QuickBooks online?
QuickBooks Online offers four pricing tiers for their accounting software, ranging from $30 to $200 monthly, not including the 30 percent discount for six months.
What type of support is provided for QuickBooks Online?
QuickBooks Online provides several support channels to its customers, including phone, chat searchable knowledgebase, articles, guides, videos, a chatbot feature called QB Assistant, online training classes, a user community, and help via email.
How secure is QuickBooks Online?
QuickBooks Online is a secure, reliable, and efficient accounting software designed to meet the needs of small business owners. It offers a variety of features and benefits, including 128-bit SSL encryption, multifactor authentication, physical safeguards, routine testing, accounts management, customizable feeds and charts, data backups, customer payment notifications, and more.
How easy is it to set up QuickBooks Online?
Setting up QuickBooks Online is relatively easy. All you need to do is create an Intuit Online Account, choose your subscription type, and begin using the software.
Does QuickBooks Online offer Time Tracking for employees?
Both Payroll Premium and Elite plan to offer the ability for your employees to clock in and out from their phones.
How can QuickBooks Online help manage payroll?
QuickBooks Online can help small business owners manage their payroll in various ways. With the Self-Service or Full-Service Payroll plans, users can run the payroll on their schedule, pay employees and contractors using free direct deposit, and prepare, file, and pay federal and state payroll taxes.
Additionally, the app can help track and categorize expenses, track travel miles, and manage bills and 1099 contractors. QuickBooks can also integrate with hundreds of third-party applications to automatically import, export, and sync data, making the payroll process efficient and accurate.
Does QuickBooks Online offer integrate 401K plans?
Yes, QuickBooks online utilizes an outside company called Guideline which seamlessly integrates with QuickBooks online. As an employer, you can quickly establish a 401K or simple IRA through your nonprofit organization.
Guideline offers three different levels of 401K plan options based on your specific needs for your employees. Guideline will walk you through their options and help you identify which retirement plan is best for your group.
How to reconcile QuickBooks online? Reconciling QuickBooks
To reconcile QuickBooks Online, start by ensuring all transactions have been entered and are up-to-date. Next, compare your bank statement to the transactions in QuickBooks Online.
If there are any differences, adjust the balances accordingly. Finally, review each transaction and make sure everything matches up with what is on your bank statement.
Once satisfied that everything matches, you can reconcile your accounts in QuickBooks Online. This will help you keep track of your finances and ensure accuracy across all financial records.
How do I reach QuickBooks online customer service team?
There are several options to get help from the QuickBooks customer service team.
- Online Chat
- Click to have them call you directly
- Call QuickBooks at 1-800-446-8848
Support will need your company id located under your billing and subscription screen.
What are my QuickBooks Login Options?
You can log in from your desktop computer or via your QuickBooks app on your phone or tablet.
Do You Need A Small Church Insurance Agent
Integrity Now Insurance Brokers is the perfect choice for any small church seeking an insurance agent. We provide various church insurance coverage options, from liability and church property insurance to employee benefits and workers’ compensation insurance for churches.
Our experienced church insurance agents know this specialized field and can help you find the best church insurance policy to suit your needs. We have been around for over 20 years, and our staff has a reputation for honesty and integrity, making us the ideal choice to design your small church insurance program.
Give us a call and talk with one of our licensed church insurance agents for a quote today.
