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Quick question regarding quickbooks ? Can you help us out ?
Quick question regarding quickbooks ? Can you help us out ?
Hey Guys
I am beginning to set up a QuickBooks file for our non-profit company. However all of the past expenses for 07 and 06. were written out of my personal checking, 2006?s expenses totaled only under 1000 ( such as legal fees, mailing, ect ). Should I only start with the current year? Also how would I record the expenses if there was no activity in the business checking account or owner?s capital contributions ?
Answers:
Chosen Answer
sosezshe: May I suggest 2 things? Non profits have VERY strict guidelines and each state has it's own set. You can find some helpful information by clicking on the help tab on your QB tool bar & entering Non Profit. You will see a link About(nonprofit) this should answer the QB side of your question.
Additionally, I would consult with my accountant before entering anything I was unsure about. It is much easier to start fresh than to have to clean up a mess later. The IRS frowns on messy books ;o)
Best of Luck
2007-09-19 15:39:49
sosezshe: May I suggest 2 things? Non profits have VERY strict guidelines and each state has it's own set. You can find some helpful information by clicking on the help tab on your QB tool bar & entering Non Profit. You will see a link About(nonprofit) this should answer the QB side of your question.
Additionally, I would consult with my accountant before entering anything I was unsure about. It is much easier to start fresh than to have to clean up a mess later. The IRS frowns on messy books ;o)
Best of Luck
2007-09-19 15:39:49
annie: email me, I am certified by Intuit as a Quickbooks ProAdvisor. Journal entries will help you out. What version of QB are you on? Basically tally the numbers and then do a journal entry, offsetting the amounts against the Opening Balance Equity account. Then check the balance and make sure the numbers are going in the right direction.
2007-09-19 17:20:57
2007-09-19 17:20:57