We understand that, as a non-profit making organization whose core objective is not to make profits but extend social benefits to your immediate environment, you will also be interested in tracking and managing your finances so that you can have a good grasp on how your organization’s cash flow is directed, like a profit-oriented business, for effective decision-making.
That is why we have posted these tips on how QuickBooks can work for Non-Profit Making organization.
Income – In QuickBooks, you can set-up your income channels like Donations, Corporate Sponsorship, Membership Subscriptions etc as an item which will appear on receipt and invoice generated.
Expenses – QuickBooks has thousands of expenses type you can choose from when recording your daily, weekly or monthly expenses – From Staff salaries, Rents, Office Supplies, Miscellaneous Expenses or even add your own customized expense types.
Financial Report – You can generate weekly, monthly or yearly financial report of your organization’s activities, track financial performance via Income and Expenditure report, monitor Cash Flow and view your financial position.
Document/Report Customization – You can even customize electronic source documents – receipts or invoices to suit your organization’s style and add your organization’s logo to the financial report.
QuickBooks software also tracks all investments by NGOs to profit-generating activities like an acquisition of assets for business purposes, investing in the financial market etc.
For more information on how we can help you set-up QuickBooks for your Non-Profit organization, connect with our consultant on 09092942048, 08175420054 or SEND us your request: info@magnetgroupng.com
