If you have been using QuickBooks Online for a while, you will notice every year on January 1st or the beginning of your fiscal year, your net surplus or deficit from all of your fund balances closes to the QuickBooks Retained Earning equity account.
In this tutorial, I will show you how to record your beginning fund balances and closeout your QuickBooks Retained Earnings balance to net assets.
You collected funds for your mission fund initiatives. It is now time to disburse the funds to all of the wonderful charities your ministry supports around the globe. How do you record all the expenses in QuickBooks Online?
In this tutorial, I will show you how to record your ministry expenses for a restricted fund in QuickBooks Online continuing with my four-part blog series.
Recently, I have been getting questions from churches wanting to know how to track restricted funds in QuickBooks Online.
In this tutorial, I will explain what a restricted fund is and show you how to record restricted contributions for your ministry in QuickBooks Online. This is part one of tracking restricted funds for churches series.
Do you have customers that keep sending you NSF checks? Are you using journal entries to record returned sales receipt payments from customers?
The problem with using journal entries is you bypass the sales form and expense form when you record the transaction this way and it makes it harder to see which customer’s profile was impacted by the returned payment.
In this tutorial, I will show you how to record a returned sales receipt payment and the bank fee without using a journal entry.
Are you using a donor management system or a CRM that uses Stripe as the payment gateway? If you only record the net sales amount that shows up on the bank feeds, you are understating your revenue and expenses. In this tutorial, I walk through my process to record and reconcile Stripe transactions in QuickBooks Online.
Are confused by QuickBooks Online sales form labels for nonprofits? Are you looking to invoice your stakeholders (aka customers) in installments in QuickBooks Online? Are you confused by QuickBooks Online sales form labels for nonprofits?
I am answering this question and clarifying the confusion most nonprofit organizations have around the pledges vs. invoices labels in QuickBooks Online.
Are you dealing with multiple credit cards and messy partial payments? Paying down a credit card bill in QuickBooks Online is one of the challenges we see many users struggle to accomplish. Keep reading to learn how to reconcile your credit card accounts and record the credit card payments in QuickBooks Online using two different methods.
Reconciling your bank account in QuickBooks Online is one of the most important steps many users skip or wait until tax filing time to do.
Reconciling your books should be done on a monthly basis to help your organization catch fraudulent transactions, unauthorized bank fees, and verify your revenue and expenses.
Keep reading to learn how to reconcile your books in QuickBooks Online.
