 Hi everyone. Thank you so much for joining us today for our webinar, QuickBooks Desktop for Existing Users with Greg Bosson, CPA from QuickBooks Made Easy. So just a few housekeeping items before we get started. All of the callers will be muted. So if you have questions, there's a chat box that you should see on the left-hand side of your screen. If you lose your Internet connection, I recommend just refreshing your browser and logging in with the link that was emailed to you. If you have to drop off or you want to watch the webinar again, it will be hosted on our website at www.techsoup.org slash community slash events dash webinars. Also we'll be sending an email once the webinar is over with a link to the presentation, the recording, and also any relevant links that are covered in today's webinar. If you're on social media, feel free to give us a follow at TechSoup on Twitter and use hashtag TS webinars. But like I said earlier, we have the chat box, the Q&A box which we'll be monitoring very closely and trying to answer all of your questions as we go along. So just a little bit about TechSoup before we get started, we are in 236 countries and territories. We serve over a million organizations. We work with several technology partners such as Adobe, Intuit, Microsoft, Symantec to make our mission possible. So just to give you guys the opportunity to try out the chat box, if you want to tell us what organization you're with or what caused you're passionate about, I can read a few of them off before we launch into the full webinar. So we have Brockton Community Access, Special Forces, Charitable Foundation, United Way, Beading Washington. That sounds cool. I see a YMCA. Okay, so we have a lot of great organizations on the line today. So thank you for joining us and we're really excited about the content. So just a little bit about our partnership with Intuit specifically. If you're interested in finding more about the partnership, you can go to TechSoup.org slash Intuit. Also, we have a partnership with ClickBooks Made Easy. So that's Greg from Easy Founder of ClickBooks Made Easy. So if you're interested in their trading products, you can see the URLs here and we'll be sure to email them to you once the webinar is over. So just a little bit about Greg before we get started. So he is a practicing CPA and Advanced Certified QuickBooks Pro Advisor with a full service accounting firm located in Atlanta, Georgia. He's also the founder and CEO of ClickBooks Made Easy. Since 2000, Greg has been teaching live QuickBooks seminars around the country specifically designed for nonprofits. And then my name is Seema Tucker and I am the online learning producer here at TechSoup. And on the back end, we have LaShika who's going to be helping out with chat, and then David who's also going to be helping out with chat. And then we also have Megan who's not listed here but she's going to be helping out with chat also. All right, so I am now going to hand it off to Greg. Thank you so much. All right, so hi everybody. It's Greg Bosson on the line. And I want every one of you to say hi. It sounds like there's a few of you that can't hear. So I want to make sure everybody, at least most people can hear. So say hi or hello or greetings or whatever weird way you want to say hi. I'm going to be talking to you a lot and you're going to be, oh, somebody said hi Greg, Sandy, and you even spelled it right. Thank you Sandy. Carolyn's from Vancouver which is one town in Canada I haven't been to. I need to go do that. Anybody here from Hawaii? Do I get in Aloha from anywhere? We teach in Hawaii, so I like that. Ah, there we go. Oh, Halama I think is that. I've got a lot of whys for Anita. Okay, cool. So you guys are here and listening. The other thing is how's my sound? Too loud? Not loud enough? Or just on time? What do we got? Who thinks perfect, perfect, perfect, perfect? Good, perfecto. Alright, cool. So as long as I don't sometimes I talk like this when it gets too close and that's not good. So I need to back on and make sure that I do that. So I'm going to keep talking like this instead. So hopefully everybody will be happy. So I'm going to be asking you questions. This is not your typical webinar. So you need to pay attention because you will be called on to answer questions by name. And if you don't answer, I will shame you in front of the entire group. We like to use ridicule and shame here as a learning tool. I'm just kidding. Alright, so let's see what we got here. So this is me. And I do two things in my life. I am a CPA first and foremost with an accounting practice in Atlanta, Georgia. I've been in practice for about 30 years. We specialize in nonprofit organizations. So we have audits. How many of you get audits done? Financial statement audits. We audit like probably 35 nonprofits. Most of them are in Atlanta, but some of them are across the country. Yeah, it's kind of hard to get money from a funder unless you get an audit. Certainly it's hard to grow. So D. Lee Groom says, hooray for audits. I don't know what you are smoking, but anyway, I mean I like audits, but I mean most people I think would disagree with you. Alright, so let's move on. So anyway, in addition to my CPA firm, I also teach QuickBooks. So I do that through a company I own called QuickBooks Made Easy. So what we do is we teach nonprofits how to use QuickBooks. That's what QuickBooks Made Easy does. So in case you've faded away, I'm Greg. I do two things. I own a CPA firm that specializes in nonprofits, and then I teach people how to use QuickBooks with a company called QuickBooks Made Easy. And we teach people using DVD training products, one of which is available at a discounted price on TechSoup. The other one we are going to offer to you at a discounted price. We have that. We also have TechSupport which we are going to offer to you at a big discounted price. We can call us with questions for a year. And then we also do live seminars across the country. So we have products, TechSupport, live seminars, and webinars. So if you ever wanted to see us live, here's some of our upcoming webinars over the next couple of months here. And these are some of the other cities on the right that we are going to be going to. This year we go to about 17 or 18 cities live during the year. Let's see. So what are we going to be covering? So listen up. First thing I want you to understand is this is a seminar for people that already feel like they know QuickBooks. So if you are completely brand new to QuickBooks and you have absolutely no clue what's going on, don't hang up the phone. You are still going to be all right. We are going to try to include you. But just understand this is for people that already have a basic understanding of QuickBooks. So I did go ahead if I am looking if you should be seeing the agenda right now. Let me get my little arrow here. So we are going to start with the best practices for list setup. Now this is something that you should already know because we taught it in our new users webinar with TechSoup that took place a couple of weeks ago. Hopefully you sat in on that. If not, I am going to go over it in about 5 minutes. Then we are going to look at how to enter your income and how to enter your expenses. And we are going to pay special attention when we are entering income to show you how to use QuickBooks as a donor database. And when we enter expenses we are going to show you how to enter expenses so that you can point them to different programs and you can get a report that breaks out your expenses by program. Then we are going to look at reports that the board normally would want. And then I've got two advanced topics here. One of them is Tracking Restricted Grants. One of them is Inputting and Kind Contributions. I just want to let you know I have an hour and a half training on Tracking Restricted Grants. We are going to just cover the highlights of that. Inputting and Kind Gifts takes about 45 minutes usually to teach. So we are just going to give you the basics on that. But trying to give you some advanced stuff for those of you who have been using QuickBooks for a long time. Let me see what else. So as I told you, we are going to give you a discount on buying the products. And you've got to have a code for that. I'll pull this up at the end of the hour and a half. You've got to see whether I'm any good or not before you decide whether or not you want to buy this stuff. But let's just move on here. So one little thing we always like to say at the beginning of these TechSoup webinars, what is QuickBooks anyway? So it's an accounting software package or a financial software package which means it does your accounting. It tracks your invoices to customers. Maybe you're a membership association or maybe you invoice things, workshops, registrations. It will track those. It will track your expenses. It will track your accounts payable. You can print checks out of it. So these first three things are free. Now QuickBooks will also do payroll for you. You've got to pay them extra money and you can have a payroll service with QuickBooks. Additionally, it will process credit cards for you, but you've got to pay for that as well. And then finally, it will function as a light donor database. You'll be able to get year-end donor letters. You can get thank you letters and you can get donor reports out of QuickBooks. Some of you already have an outside of QuickBooks database, but many of you probably don't. And when we go over how to enter income, we'll talk about the right way to enter income if you do want to use QuickBooks as a donor database. So that's kind of what QuickBooks is for. I want to hear from you guys. So here I have a poll. So I want you guys to answer this. Were you on the last webinar? And this is the webinar that happened two weeks ago through TechSoup. It was QuickBooks for new users that are using the desktop version of QuickBooks. And I want to see who took it. So go ahead and answer yes. I'm back for more. Or no, today is the first time I've ever been to a webinar. Or my favorite, I attended, but I forgot most of it because I was under the influence of Lord knows what. So I want everybody to answer, keep answering. We have 701 people and we've got about 500 that have answered. That means 200 people are not answering. So those of you that aren't answering, I'm very upset with you. I'm going to call out a name here. Amber. Oh, there's multiple Ambers. Amber Wilson. Are you there, Amber? Amber? Are you there? If you are, say hello. Amber? Oh, Amber. See, Amber is one of the ones. What is Amber doing? I wonder. I'm not saying it. I'm not moving on until. Ah, Amber is muted. Okay. Well, that's okay that she's muted, but I did want her to say something. Okay, hi Amber, how are you? All right, so here's the results. So it looks like 33 people were actually at the webinar before. So the very first part of this webinar, we're going to kind of go over for everybody else because 538 people are here for the first time. And then there's 12 people that forgot most of what they learned the last time. I love that. All right, so let's move on here. The other thing I always like to ask before we get started is we have different versions of QuickBooks. And I want to see what version you have. QuickBooks Pro, QuickBooks Premier Nonprofit Edition, that's the one that you get at TechSoup. Enterprise solutions cost about $12 or $1300. And that one is just like what we're teaching with. It's just more expensive. And you can have more than your list limits are bigger. The maximum number of donors, members, or students that you can have in your customer list, if you have Pro or Premier is only $14,500, whereas the few people that have Enterprise they can have up to $100,000. So there's 11 people so far that have QuickBooks for the Mac. This is a software that has been discontinued. They haven't made it since 2016. So you're going to need to switch because QuickBooks isn't going to support it anymore. So your answer is either to go to a PC, get a parallel, or go to a PC so that you can use one of the three versions on top here, probably Premier Nonprofit. That's the cheapest one. You can get it for $50 at TechSoup. Or go to the online edition. Now we have 14 people that are in the online edition. So that means you are in the wrong webinar. So I'm going to share my screen so that I can explain. And I want everybody to pay very close attention. I'm about to share my screen now. So what you should be looking at if you can see the screen. Hopefully you can see the screen. What you should be looking at is the online edition of QuickBooks. So David, is that what they are looking at? Because I can't tell what you are looking at. Or Seema. Okay cool. If your computer screen looks like this, you are in the wrong webinar. Now you can certainly stick around because a lot of the techniques that we teach are the same. But we have this webinar over again for people in the online edition. So you may want to just act like you were here. So tell your boss you sat in, but then you can just leave and go to a bar or something because this isn't for you. We are teaching using this. This is the desktop version of QuickBooks. You got it? And that's what we are going to be learning with. So cheapest place to get it is once again TechSoup. You can get it for $50 at TechSoup. And let's see. I'm going to go to this next slide. So now this very first topic is how to appropriately set up your QuickBooks. Again, we did an hour and a half webinar on this a couple of weeks ago. So if you didn't sit in on it, I'm assuming you already know this, that you want your accounts to be natural categories, particularly when we are talking about expenses. You want them to be natural categories like supplies, travel, rent, salaries, payroll taxes, printing, postage. It's the natural way of thinking about expenses, and that's what you want your chart of account list to be. Very often nonprofits, they don't understand this rule, and they start using the expense accounts in the chart of account list to not just track the natural categories, but to track other things, like your programs. So all nonprofits have to report their expenses on a by-program basis. Some people call this the function of the expense. They have to say whether the expense is program, admin, or fundraising. And if it's a program, they got to say which program it is. And you want to use the class feature for that, and you want to use the chart of account list for the natural category like supplies, travel, postage, printing. Of course you want to put your donors, members, students, restricted grants, and the customer list. Customers, that's the list in QuickBooks where you put everybody that gives you money. And then vendors, that's where you put everybody that you pay money to. So this is the appropriate setup. Now I'm going to share my screen again, and just kind of hammer home the point, and then we can move on, but this was all covered two weeks ago. The natural category is what you put for your accounts, and then you use classes for program, admin, and fundraising. And I'm going to share my screen again. And I'm going to show you, here we are in QuickBooks. Are we in QuickBooks, David? Yes, we are. Okay, good. Thank you. All right, so I'm going to go up to lists and class list. And you can see what we've done here is we have set up our class list as our three programs, Guidance Center Synergy Conference Aware Campaign. This organization is all about environmentally friendly forms of energy, and these are their three programs. The organization is called Synergy Now. Anyway, and then we have two more classes, one for admin, and one for fundraising. So you should use the class list to put your programs, admin, and fundraising. So everyone should have at least three classes in their class list. One for their program, one for admin, one for fundraising. If you have more than one program like we do, you'll have three classes. Some people have subclasses. Yes, you can have that. You can have a class called Education Program, and then underneath it you can have each one of your workshops. Now the benefit of this, well, let me just, before we go any further, what happens is when you enter transactions, there we go, like a check will say, and I'm going to pull up a little check. Let's make this not so big. All right, over here is where you put your natural category of expense, salaries, payroll, tax, health, insurance, rent. These are what your expenses should be. You should be able to look at your expense list and have it look pretty much the same as everybody else's on this phone call. These are generic. Your special stuff that you do, those are your programs, and you want to use the class list for this. So basically we point something to postage, and then over here we point it to the guidance center. And yes, you can take an individual expense and you can split it between different programs. So the advantage of that is when you go to look at a P&L, not that you'd give to the board, but a P&L for yourself to analyze how you're doing, you can do a P&L by class. You can kind of think of each class as its own little department. And what we can easily see here is we can see the guidance center we made or we lost $14,000. But we can also see how much expense we had. We had $119,000 for the guidance center. The Synergy Conference we had $48,000. The Aware Campaign we had $10,000. A lot of funders won't even talk to you unless your program expenses are at least 75% of your total expenses. And this is how I have to report it on a $9.90 or an audit. So this is what you want your setup to be. Now I'm going to stop here because again, I assumed you already knew this. I just wanted to throw it in there for people that had no idea. And I'm going to ask, does anybody have any questions about this setup before we get into the real meat of today's topics? So David or Asima, whoever it is that wants to ask me, please ask me questions. And we've got Megan on the back end that's answering questions via the chat as well. But let's take a few on air. There's a couple questions. This is maybe not so specific, but people are asking if they inherited a mess from a former employee. Do you have any advice on how to clean up what they are? I would quit and leave the state is what I would know. Let me tell you something, 80% of the people in this call inherited a mess. And that's why we are so well received across the country. And that's why so many people have our training products at their office because you inherit a mess. And what I would suggest is as long as you can reconcile your bank account, you want to go to the chart of accounts list, and after you decide what you want your chart of accounts to look like, and what you want your class list to look like, you want to inactivate. Basically, it depends upon how messy it is. What I do is I inactivate every single income and expense account, and then I replace it with my own list. To inactivate an account, you simply click once on it, you go to the bottom left, and you click Make an Active. And what that does is it removes it from your screen so that you can't pick it in the future. Watch what happens. Now it's still there. It will still show on reports because there's been expenses pointed to it, but you won't be able to use it in future transactions. It won't appear as a choice. If you want to see what's been inactivated, you see down here at the bottom where it says Include inactive. I'm going to go ahead and check the box to the left of where it says that. And then anything that's been inactive will show with an X. And then I like showing this because then you can very quickly and easily inactivate things that you're not going to use. Do not be afraid to inactivate something. Listen, if you've been working at your job for a little while, and you see an account, and it's some weird name, and you don't know what the heck it is, and no one's used it in years, don't be afraid. That person is gone now. Forget about him. This chart of accounts is your baby, and do what you will. So if I can impart any other words of wisdom, this chart of accounts list should not be big. It needs to be pretty small because if it's big, then when you go to print a report out for the board, it's going to be on more than one page, and the board is not going to read it. So I am on the warpath around the country to teach people, you know what, let's not use the chart of accounts to track everything like our programs. We also aren't going to use it to track restricted grants. We're going to do something else. We just want the main stuff here. So that was a lot. Next question. We'll take one more question, then we'll move on. Okay. So somebody's asked, can you just talk about the difference between class and account? Sure. Okay. So once again, an account is a natural category. When you're entering a check or a bill and you've got to point it to an expense account, you have to tell QuickBooks what the natural category was, and its supplies, travel, rent, postage. It's a natural way of thinking about an expense. Some people call it the object of the expense. It's what the object is. It's what it actually went to pay. And you know that it's a natural category because anybody can understand it even if they don't know anything about your nonprofit, and that's what your expense accounts need to be. Your classes are more like the programs that the expense is paying for, or some people call it the function of the expense. So in other words, if you go to the post office and you buy postage, well, the expense is postage. And so that's what the expense account needs to be. It needs to be postage. So you'd put postage here. Now it could be for one of your programs, maybe postage for the guidance center, or it could be postage for a conference, or it could just be postage in general, just overhead that I need for my office that goes to admin, or it could be postage for a fundraising event. So that goes to fundraising. Hopefully that makes it clear to you. So I'll take one more, and then we're going to move on to our income. All right, let's see. Somebody asked if my organization has multiple fundraising events that we want to evaluate. Would I use subclasses under fundraising class? Okay, so unfortunately I'm not going to be able to teach you how to do special fundraising events. That's another topic it's in or beyond the Essentials Training product, but I will tell you, no, do not use classes. When it comes to special fundraising events, that's one thing that I do think that you use accounts and subaccounts for. And if I have a chance, I'll go over to that data file and I'll show you how to get that, but I don't have the chance to show you right at this second. But I will just tell you and hope that you understand. What you do is you create a set of accounts for each special fundraising event. You make all of the accounts the income type, even the expense accounts. And then you put it under a parent income account, and then it will net it all together so you can see what the net of the event is. So I'll just leave it at that. And then if we need to come back to it later, it's not part of the seminar, but we will. All right, so I'm going to move on to income. First thing I want to say is what is the screen sharing looking like? First of all, is it too small or too big? And is there too much of a delay? Or is it just right? I want to know. So y'all chat me up and tell me what your experience has been so far. Then Seymour, tell me. It's pretty mixed between too small and looks good. So maybe you want to zoom in just a tad, if you can. Too small may be your screen. So what I can do is I can zoom in like that. Are y'all good with that? Is that better? I don't think it's refreshed yet. There we go. Yeah, I think that's better. Okay, so I can't. I think it's big, actually. Now it's too big. All right. Yeah, too big. We'll see what I'll do. Zoom in when you're specifically entering transactions and things, but when you're navigating, you don't think so. What I'll do is I'll do a little of each in an effort to make for an inferior experience for everyone. How about that? I want everybody just a little bit annoyed. That's the goal for the seminar today. No, I'm just kidding. All right, so I'm going to ask you a bunch of questions now. We're going to talk about entering income. So I'm going to go ahead and share. I'm going to take the sharing off because I have a little slide on this I want you to see. And this is the slide right here. So when it comes to entering income, let me go ahead and click this. There are two methods for entering income. One, and what I'm referring to is the money that you are getting in either from your grantors or from your donors or from your memberships or from your registrations or from any of your income. Now, there's two methods. There's a lump method and there's an individual method. You decide whether or not you're using one or the other depending upon whether or not you want to use QuickBooks as a donor database. Now, if you have an outside donor database that you're using to track your members or donors or students and outside database for your customers, I guess, tell me what that database is. I want everybody who has an outside database. We've got 709 people on the call. That's wild. Go ahead and chat me up and tell me what donor database you have. Some of them might be DonorPerfect, GiftWorks, DonorTools, DonorSnap, LGL. Who is using an outside of QuickBooks donor database? Anybody? A lot of you. Okay, there we are. Salesforce, eTrapestry, Blumerang, Razor's Ed, SuzieHass, ServantKeeper, which I always loved that. So Jeffrey, there's another software called Chambermaster in that trippy, ServantKeeper and Chambermaster. I feel like those two should be working together. All right, so if you have an outside database like that, and what you would love is if that database just automatically synced with QuickBooks, but most of them say that they do, none of them actually do, or they don't do it well, so nobody actually uses it. All right? That's just the God's honest truth. And so if you have one of these outside databases, then you have to figure out how to enter the stuff into QuickBooks. You're entering it all in eTapestry, or Neon, or Blumerang, or whatever, but you've got to enter it here. So what I'm going to suggest is in QuickBooks you enter it using the lump method. So the lump method means when it's time to go to the bank, they can actually have to change to a different data file here. Sorry about this. But when it's time to go to the bank, you enter the donation, or the deposit at that time. You don't enter invoicing because you're doing it in the other software package. So when you go to the bank, that's when you enter the income, and you're going to use the lump method. Now the lump method, I'm just kind of waiting for this to pop up here. The lump method means that when it's time to go to the bank, you click this record deposit button over here on the left. I'm going to click it, and then you fill out this. Same way you'd fill out a deposit ticket. You can even go in here and print a deposit slip directly from QuickBooks. But you enter it lumped by category. So this deposit is comprised of, I don't know, maybe there's five or six checks for membership dues. I don't put the name of the person because I'm not using QuickBooks as a database. I'm lumping it by account. And the total of all the checks that made that up was $425. Got to point it to a class. We'll say that this was for the Go Green Guidance Center membership. And then we also got a grant. So let's say it was a foundation grant, and it was for the Synergy Conference. And let me make this a little bigger so you can see what I'm typing here. And this grant was $10,000. And then we got some unrestricted money for individual contributions, and those totaled $1,095. Now unrestricted dollars, and we taught this before, but if you didn't know, I'm teaching you now, any dollars that don't relate to a particular program, don't put it to that program's class. Put it to either the fundraising, the admin, or the fundraising class. I'm going to choose the fundraising class. See that way when you look at a P&L by class, only the revenue for a class appears in that column. So we can see whether we may or lost money on that program. So that means all the unrestricted dollars shouldn't go to one of the programs. It should go over here to fundraising or admin. It doesn't matter which one, just pick one and stay with it. But that's the lump method. So I'm going to stop here and see if any of you guys, and I want to make sure you understand, this is only for those of you that have an outside of QuickBooks database. If you are trying to use QuickBooks as a database, you would not use this method. I'll stop for a second. Excuse me, who has any questions about this? The lump method. I'm expecting to only get questions from people that already have a donor, member, or student database because that's the only people I'm teaching for right now. What do we got? All right, so somebody is asking, is a lump deposit. Oops, I just lost the question. Sorry. Is this a lump deposit? Okay, I'll find that one again. Let's see. Okay, so can you do a CSV import? We're getting that question quite a bit. So some people are like, they're like, I don't want to enter my transactions. I want them imported, and they're like, can you do a CSV import of transactions is basically what they're talking about. Is it possible to import transactions? Yes, it is. Is it something you can do? Most likely not. Now these other software packages, eTapestry, DonorPerfect, DonorTools, all those people, they may claim to import, and they may import, but they've paid into it to get the coding to make an import happen successfully. If you want to try and do it manually, that's beyond the scope of this class. The answer is yes, it's doable, but by the time you've figured it out, you might as well have just hired somebody to do it for you. So hopefully that answers your question. But some of you are going to do it anyway, and try it on your own. And if you want to do that, you've got to go to the Help, click QuickBooks Desktop Help, and then you can click Importing Transactions, and it will give you all of the codes, all of the formatting that has to be in place in order to import transactions successfully. It's a big deal. Anybody else got a question? Yes, I found the one that I was originally going to ask. So is a lump deposit the same as a general journal entry? Yes, a lump deposit would be the same as doing it as a journal entry. And as a matter of fact, see look, importing transactions to QuickBooks, I'll click on that. As a matter of fact, every single transaction that you do in QuickBooks is ultimately a journal entry. See, here's the import kit to download. I mean, I'm telling you, it's a thing. But anyway, and as a matter of fact, let me go ahead. I'm going to save this transaction. And this is going to freak you out. If you are on a transaction that's already saved in QuickBooks, every transaction is ultimately a journal entry. If you're on a transaction that's already saved, you can push Control and the Why button, and it will give you the journal entry. Now I bet you that freaked you out. Some people are very excited. Chat me up if you didn't know that and you're happy about it. I want to see who likes that. It's called Control and Why. Now the transaction already has to be saved, but Seema, is there anybody that's excited about this? Maybe not. Okay, good. Nobody's excited. Nobody cares. So anyway, that's the lump by category method. Now I want to get into the other method because it's a bit more complicated. Is there something pressing you feel like you need to ask or not? Because I'd like to move on. I think we're good. Yeah, I think Megan's going to get them on the back end. Okay. All right. Hold on one second. I have to take a – there we go. I'm taking a Tums now by the way. Just in case you think it's a mistake. Yeah, we like to make this personal here at QuickBooks Made Easy. Great to see the next poll question. We're going to get really personal. All right. So the other way of entering income is what you want to do if you want to use QuickBooks as a donor database. So the first question is, can I use QuickBooks as a donor, member, or student database? Of course you can. Can I do an invoice side of QuickBooks? Of course you can. Can I see kind of like a page that lists transactions and stuff for my donors, members, or students? Yes. If you click here on Customers and Donors, you get what's called your customer list. And here they all are. And if you click on an individual person, you will get a screen on the right where you can have their name and address and you can see information for them. You can even attach. You see this little paper clip here? Let me zoom in. You see this little paper clip there? That means you can click on that paper clip and actually attach something like maybe information sheet on them. If it's a grant that's in here, you could attach the grant. But anyway, whoops, went away. There we go. And then down here we see lists of transactions. There's a contacts tab. You can set up to do notes. There's all kinds of things that you can do. What about a thank you letter? Can you get a thank you letter out of QuickBooks? You sure can. Check this out. I'm going to click on this one right here probably. Let's see if this is one. Now that's a grant. Let me go to a regular donation. And let me go back until I get to a regular donation. Wow, this is nice. Here's a $2,000 donation. Can you get a thank you letter? Well, not unless you know how to do it. When you first enter a donation using the individual method, which is what I'm about to teach, your thing that you can print out and give to the donor just looks like that. But if you really want to know how to do this, and I teach you in Beyond the Essentials, you can actually create your own little template here so that even though you enter it, just like you would enter any other donation, it comes out of the printer looking like this. And you can even attach it to an email. So yes, you can get a thank you letter out of QuickBooks. You just create your own template of this. Can you get good reports? Yes, you absolutely can. Let me show you reports, sales, sales by customer. If I click this, this basically gives me a list of each person. And if it was a donation that you're talking about, it gives you a list of all of their donations. Now watch how I can change the show columns and make it be by year. And it's going to be giving you, let me zoom in here so you can see it, it's going to give you a list of each person and how much they gave by year. So if you look six names down, you can see Chad and Marine Brown, they gave every year except this year. Maybe we need to call them. So this is just an example of the many of the reports that you can get if you want to use QuickBooks as a donor, member, or student database. I'm going to make this be totally lonely again. So now I'm going to teach you how to enter transactions properly if you want to use QuickBooks as a donor, member, or student database. So there's two choices. There's the wrong way to do it and the right way to do it. The wrong way to do it is to do this. Now listen very carefully and look at the screen because I know a lot of you are already doing this. You want to use QuickBooks as a donor database, you're going to click the record deposit window. This is the wrong place to do this. Only those of you that are using an outside QuickBooks donor database and are doing the lump entry should go here to enter your donations, membership dues, or what have you. But look what happens. You may say, Greg, this is where I'm doing it. And it seems like I'm entering the individual pieces of information, Parker and Faith, Ashford. They gave me an individual contribution. Here's the check number. It was a check. It was unrestricted so it goes to fundraising and it was a million dollars. It seems good to me and then you go on to the next one. Now let me show you what happens. Let me pull up that report here. There, my Sales by Customer Summary Report. So right now Parker and Faith, Ashford, they are only at $12,235. But when I save this, it should add that million dollars to this report. Does it? No, it doesn't. It's all dates. Maybe I need to refresh the report. Well, let me see if that fixes it. No. So it doesn't show on this report. Well, maybe it hasn't been entered at all. Oh, don't worry. It's been entered. If I look at my chart of accounts list, you'll see we have a million dollars in our bank account now. So it's been entered. It's just been entered wrong. So if this is the way that you enter things, you will not be able to get a thank you letter out of QuickBooks. You won't be able to get any donor reports that included. If you click on the customer's page, you won't see that donation. See, I don't see the million dollar donation. So this is the wrong way of doing it. So I'm going to go ahead and delete this. And somebody chat me up, what's the right window to go to if you want to use QuickBooks as a donor, member, or student database? Somebody chat me an answer. What's the right window to go to? All right, we've got donor receipt, sales receipt. Perfect. The right answer is sales receipt. Now there is another answer. If you want to invoice ahead of time for something, then you would do an invoice and then receive a payment. But if you're just entering money that came in, you would just do a sales receipt. Now if you have QuickBooks Pro, this little thing right here is going to say, let me zoom in again, this little button right here that says Donations. If you have QuickBooks Pro, yours is going to say sales receipt. It also says that in the online edition. But in the nonprofit edition it says Donations. That's the button that you're going to enter, your donations, member dues, all your income in if you want to use QuickBooks as a donor database, either that or the invoice window. So I'm going to go ahead and click on it, and it's a sales receipt. Now I'm going to real quickly show you how to enter it. Here's the name, it was a check. Here's the check number. It went for individual contributions, and it was for unrestricted, so it goes to fundraising, and it's $1 million. There we go. So I'm going to go ahead and pop up the report. That's Sales by Customers Summary Report. And now I'm going to save this. It's saved. Now I'm going to go here and look at this. Now it's $1,012,235. So it does show on this report. It also will show on the customer's little page. So if I go to, here's their page, now I will see the million dollars. And then of course it's going to show on the bank account. So that's the right way of doing it. Now because you may not have ever been using this before, I need to get you comfortable with it. Now those of you that already know how to use the sales receipt, pay close attention even if you already know how to use it because I think you'll appreciate this. So some people think, oh my God, I don't know how to do this. I'm going to freak out and leave this webinar. Now let me explain something to you. If you understand how to enter something in the deposit window, then you already know how to enter it in the sales receipt because it's the same information. Look at this. In this field you put the name of the donor, the income account, the check number, payment method class, and the dollar amount. Now that actually rhymes, name of the donor, income account, check number, payment method class, and amount. Now that's the same information that's on the sales receipt. Name of the donor, income account, check number, payment method class, and amount. So it's in different places, but it's the same information. And you may then think to yourself, Greg, forget you because it looks like I've got to enter a separate sales receipt for each donation whereas if I went into the make deposit window I could just do a separate line for each thing that makes up the deposit so it's going to be a lot more work to do separate sales receipts. No, it's not. Think about this. The first line would be your first donation. When you get to the end of the first line, to get to the second line to put into the second donation, you either got to push the tab button or you got to push the mouse. That's a click. Well in the sales receipt window when you get to the end of one, you click save a new and that's where you get to the next one. That's also a click. So it's the same number of clicks so it doesn't matter. And the benefit of it is then you can start using it as a database and you can also, as long as you pick your own little thank you letter that I created here, when you go to print this thing it can be a nice little thank you letter. So now I need to teach you just a couple of little things about, that you have to know about these forms. QuickBooks calls them the sales forms. There's really two of them, invoice form, sales receipt form. One thing that you have to understand about this is this little section, let me get this on the screen here, called items. Let me explain something to you. If you are going to use this form, you have to create a list in QuickBooks called the item list. Now I could talk for two hours about what items are, but I'm not going to do that. Basically for you, items equal your income accounts. I'm actually going to say that again. Items equal your income accounts. So see, when you enter a deposit in the Make Deposit window, and I'll go over to the Make Deposit window, you'll see here you put the person's name here, you fill out the rest of this, and over here you put the income account. Well if instead you want to use QuickBooks as a donor database, you're going to use a sales receipt, and I told you real quickly to put the income account over here, but that's not what's here. What's here is an items list. So what you're going to have to do is you're going to have to create an items list before you can start using the sales receipt form and getting good thank you letters and stuff out of QuickBooks. But it's easy, it's not a problem, and when you're doing it, I just want you to think of it this way, items equal my income accounts. Which means what I'm asking you to do is after you have cleaned up your chart of accounts list and decided what you want your income accounts to be, and they're up here at the top, here's one called Individual Contributions. For every single one of your income accounts you will need to have at least one item that points to it so that you can use it on the sales receipt form. So what I'm suggesting you do is decide what your income accounts need to be, go to the lists, go to the item list. This is a new list. You may not have been there before. Go to the bottom left hand button, click New. You want to make every item that you choose the service type. It will ask you what type you want it to be, make it the service type, even if it's a product, just make it service, name it. Now you can name it whatever you want to. I like to name it the same name as the account that it's pointing to. But just because you named it that name doesn't mean that's where it's pointing to. This is where you point it over here. You say Individual Contributions Item, I want to go to the Individual Contributions account, and then you click OK. And now you've got your item. So that's how you do this. And once you have that then you can start using it on your forms. Hopefully that makes sense to you. Now you might be thinking to yourself, Greg, let me say one thing first. When you pick an item, when you create an item, and you point it, I'm on the account list. I didn't mean to be that. Let me get back into the items list. When you pick an item or create one, and you point it to an account, what happens is QuickBooks is going to say, every time I use this item on a sales receipt, or on an invoice, QuickBooks is going to go, oh, I know what you mean to do. You want to point this to the Individual Contributions Income account, and it will do it for you. So it's kind of like you don't put the account here, but you point an item that points to the account here. And you might at this point say, well, why can't we just put the account here? Why do we have to create an item that points to account? And here's the reason why, and this is a big deal. So are you all ready for this? The reason why, this is actually kind of funny, you cannot put an account here, but you have to create this weird thing called an item that points to an account. The reason why you have to do that is because QuickBooks was not made for nonprofits. When they made QuickBooks, they weren't thinking of us. So think about it, this is actually a sales receipt. Now we changed the name here to Donor Receipt, but it's actually a sales receipt. Forget about QuickBooks for a second. Forget about your job. Let's fast forward to this weekend. When do you get a sales receipt in your life? When does somebody hand you a sales receipt? Somebody chat me up the answer. When do you get a sales receipt in your life? Forget about QuickBooks. When you pay for something. Right. And when you buy something at a store, now when you go to Target, you buy something and they give you a receipt, is the general ledger income account code on the receipt that you got? No. You see, QuickBooks thought you were going to print this out and give it to a person. So they don't put the income account here, but what is on that receipt is the products and services that you bought, the items that you bought. So that's what items are. In general, they are the products and services that you buy or sell is what I should say. So basically what some people do like Target, if they were going to use QuickBooks at their cash register, they would have 10,000 items that all point to the same income account. So for you, it's kind of like you don't need that, but we are going to have to use items so that we can use this stuff on the forms. Now rather than getting upset about this, you can make it work for you. Items allow us to actually get more granular in terms of how we track our income. So how many of you are membership associations? Is there anybody that's a membership association? If you are, go ahead and chat me up. Who's a membership association? Anybody? Yes, there's quite a few actually. All right. So if you notice here, I've created three items. One called General Membership, one called Affiliate Membership, and one called Retired Membership. Now I'm going to click on General Membership and you'll see that it's pointed to the Membership Do's income account. The Affiliate Membership is also pointed to the same Membership Do's income account, but it has a different price. This is $149 whereas the General Membership is $199. So see, the benefit of this first of all is when I enter it on the form, if I put General Membership, it automatically knows it's $199, but if I put Affiliate Membership, it knows it's $149. And we'll point it to a class. And some people like to track their memberships. They have different levels of membership. So now you wouldn't have one person pay for multiple members, but to just get some numbers on here, I'm just going to put something in here. See how it multiplies the quantity by the rate and that's what the total is? I'm going to go ahead and save this. And then I'm going to pull up a different report. Now I can look at my report, not just sales by customer, but I can look it up by item as well. So when I click it, it's giving me a list by item of my income so that I can see not only the dollar amount I got from each member, each type of member, but also the quantity. You see if you use these sales forms, the sales received, the invoice, you have to use items. And QuickBooks will count the number of times the item was used so that you can get a quantity, how many members that you have. So this is a very powerful tool that is at your disposal to track all kinds of income. People use it to track sponsorship income. They have a gold, silver, and a platinum. Three different items that all point to sponsorship income. They don't clutter up the chart of accounts, but they can look at reports to track how many they have of each, as well as the dollar amounts. Here I've used it to designate between a Spring Direct Mail campaign and a Christmas Direct Mail campaign, which is kind of cool. Now even if you're not that fancy, and you're like, Greg, I just get donations. That's all I do. Well, create one item. I have one here, Individual Contributions. And this report will tell you the total contributions for whatever period of time, the dollar amount. And then it divides that quantity, $777, into the dollar amount, $141, and it gives us basically my average donation. So that I can see, and for the Direct Mail campaigns, that's actually really cool. My average donation for the Spring was $25 for Christmas is $53. Obviously, it's a lot higher. So I think that's really great information that you would typically get out of a donor database, but notice how you can get it out of QuickBooks, just as long as you use the sales receipt. The only other thing about the sales receipt that you need to understand is when, before you finish, there's this field here called Deposit 2. And what you have to do is you have to decide what you're doing with the money, and that's how you fill out this last screen. This last screen basically tells it what bank account it's going to. Now let me just tell you this. I'm going to go ahead and delete this thing. And we're going to act like it's real life here. So I'm going to do a new transaction. So this is the way that you're supposed to enter income if you want to use QuickBooks as a donor, member, or student database. The expectation is that you would go to the customer job field. You would click on the name of the person. So basically you go to the mailbox. On a Tuesday you come back from the mailbox. You have a check for $100. You enter it right in here immediately. Chad and Marie Brown gave us a check. Here's the check number. And it was an individual contribution. And it was unrestricted, so it will go to Fundraising, and it's $100. So the first thing is you can change it into a thank you letter. And you can send this to the donor so they have what they need in order to do their taxes. But additionally, I saved the transaction. But before I save it, now think about this. It's Tuesday. It's 12 o'clock. You've got this check for $100 in your hand. If that's the only transaction that you have, and you don't have any other transactions, are you going to go to the bank right away and deposit the one check all by itself? If you are, that's the only time you're supposed to pick the bank account. And then you click Save and Close, and it will make the income go up, and it will make the bank account go up. In other words, it will record a deposit. But that's not what we do. In real life, forget about QuickBooks. So don't give me a QuickBooks answer. But in real life, you're holding the check in your hand. Tell Seema, chat to her. What do you normally do with these checks if you haven't gone to the bank yet when you get them? Where do you put them in real life? You're holding it in your hand. Where do you stick it? All right, so we've got, somebody said put it in the mattress, pretty funny. Yes, yes, that's an answer. Mattress, anybody else? Let's see, deposit files, undeposited drawer. Undeposited drawer, so there's a drawer that people keep their checks in, exactly, and cash. Anybody have a safe? Some people put it in a safe. Yeah, lock box, that always makes me think of Al Gore. But anyway, so here's the deal. If that's what you're putting it, you're not supposed to pick the bank account. You're supposed to pick this weird account in QuickBooks called Undeposited Funds. Now this is an account that's in every one of your QuickBooks files. You can't avoid it. It's there automatically. And what it is, it is the representation in QuickBooks of the money sitting in the drawer, sitting under the mattress, waiting to be deposited. It's an asset account. It's something of value. I hope you locked that drawer. Some people actually change the name of this. I'm going to go ahead and edit it. And I can change the name of it to that money in my mattress. Let me tell you something, in 20 years no one's ever said mattress. I love that. So who is that person? That money in my mattress, because that's what it is. It's money waiting to be deposited. Now watch what happens here. I'm going to click here. I'm going to click Save and Close. Now look at that. There's $100 in this. It's kind of like a bank account, but it's just in your mattress rather than in a bank. You should not point it to the bank account because if you did, it would make the bank account go up when in reality you hadn't gone to the bank yet. And there's another problem with pointing things directly to the bank account before you go to the bank. And that is if you, every time you go into this screen, you click the bank account and I can see why people would do it. Sounds good to me. It's going to end up in the bank. Then QuickBooks thinks every single solitary transaction that you get, check, credit card every, each donation, each member do was deposited separately. So you're going to have a million deposits in QuickBooks. What's that going to make it hard to do at the end of the month? What do y'all think? What's going to make it hard to do at the end of the month? Hard to reconcile. Right. Because you're going to have 50 million deposits in QuickBooks and you're going to have four on the bank statement. And you're going to be trying to reconcile them. You don't need to do that. So that's why you're supposed to put it in this holding tank which is called Undeposited Funds. I changed the name of it in honor of that woman or man to that money in my mattress. That's where you're supposed to put it. So now you may look at your data file when you get done with this webinar and this isn't here. There isn't a deposit to. That means it's automatically going to Undeposited Funds. So many people were screwing this up that they added a preference or a feature and when the feature is on it automatically goes to Undeposited Funds. So that's probably what's happening with most of you. I turned it off so that I could show you and teach this. So I'm going to do one more. Let me open up my little chart of accounts list here. And we'll do one more. So let's say we get in David Bowie gave us cash. We'll do cash. And gave us a general membership due of $100. And now watch this. I want you to keep your eyes right over here. Right now that money in my mattress is $100. The bank accounts $357,246. When I go ahead and click Save a New you'll see now the money in the mattress went up to $299. The checking account is still at the same number. Good. I haven't gone to the bank yet. You do the same thing for credit cards. We'll say Delphine Adams paid us with a credit card with a MasterCard. And she paid us a retired membership $129. Now you're not putting anything in the drawer if it's a credit card, but you know that it's not going to the bank yet. There's usually a delay and it usually gets batched with other credit card transactions. So I'm still going to put it in undeposited funds. So I'm going to click Save. Keep your eyeballs on this $299 right over here. I'm going to click Save and Close. It goes up to $428. So if you notice, and this has been true for the last couple of years, there's a little icon here in red above the record deposit window. And it has a number in it. The number is 3 right here. This corresponds to the number of transactions that you enter during the week that are waiting to be deposited. They're either in your drawer, or they are at the bank somewhere if it's a credit card waiting to be batched. So then what you do is in real life at the end of the week, you click on Record Deposit. You immediately get a list of transactions that are either credit cards or cash and check that should be in that drawer. Because if you see stuff on this screen that's not in the drawer, somebody's stolen something. That's what's called an internal control, and we accountants love it. But what you do is you check off, we're depositing this checking cash, we're not depositing the credit card because that's a separate deposit. We click OK. So we do end up in this window just like the people that have an outside QuickBooks donor database do. But now we can deposit this as a lump. I'm going to open up the little chart of the council list here. And here's my big finish. That money in my mattress is $428. Checking accounts $357. We click Save and New. And now we go back over here. That money in my mattress is $129. And this has gone up to $357.545. The $129 that's left, that's the credit card. So that's waiting to be deposited. Now you need to go to the bank's website, login online to see, yes there was a credit card deposit, then you're going to have to figure out which charges made it up. If you're with the QuickBooks Merchant Service and I'm not trying to sell you on that, I don't even work for Intuit. But it's a pretty cool service. And the prices are competitive. They figure out the batching for you. If you are not with that service, you're with an outside service, then you're going to need to click the record deposit button. And you'll need to check off, well here there's only one. We check it off. We click OK. And then this is the amount of money that was deposited. Now some banks, the amount of money that's deposited is a little bit less than that. Say the deposit was only $127.52. Why is it that the amount of the charge is less than the amount deposited? What's that difference? All right, the difference is the fees. Yeah, it's that credit card fee. Not everybody has it where the merchant service takes out the fee per transaction. But I would create an expense account called Credit Card Merchant Fee. So I can see exactly how much is being paid or being wasted on these fees. And this will be negative $2.78. Now you don't need to put a class at this point because you already classified it when you entered the sales receipt. But over here we can go ahead and class this to Admin. And so this basically is the deposit of $126.22 being deposited into this checking account. So I'm going to go up here to the list and I'm going to scroll up to the top. And it says checking account $357.45. That money in my mattress is $129. We click Save and Close. That goes down to $0.357.671. So that's income. So let's go ahead and take some questions on that and then we'll move on to expenses. I know we only have a little over 20 minutes left, but that is the most important part of the day. We're going to give you some advanced stuff here towards the end. But let's stop and take some questions. So talk to me. I'm sure there's a lot of them. Yes, there's a lot. So do you need to select a class on the deposit if you've already selected a class on the sales receipt for a transaction? No, you don't. And yeah, I covered that. If you already entered a transaction, if you already entered a class when you're entering the sales receipt, you don't have to do it here. See how I didn't do it on all of these? You don't have to do it. Next question. Okay, let's see. How do we do a donation pledge? So if it's a pledge, you're going to use an invoice for that. It works the same way as a sales receipt. I don't have time to go through the whole process, but you use the same items that you do on the sales receipt. And I have a whole chapter in it in the Beyond the Essentials training product. What's the next question? Okay, let's see. Do I make a donor receipt when money is paid online and goes directly to the bank? For example, PayPal? Yes, yes. You make a donation receipt if it goes directly to the bank. And you would do that for PayPal, and you would deposit it to a PayPal bank account. So you would need to make a PayPal bank account in your chart of accounts list. PayPal is like a bank, like any other bank, like Wells Fargo or Bank of America. Next question. Okay, how do I set up Quick Book Accounts to carry forward money unused but budgeted in a previous year? That's restricted grants. We'll cover it in a minute. What's the next question? Okay, is there a way to do global recategorization of a category? Global recategorization of a category. You can do it, but only in the accountants edition. If you have the accountants edition of Quick Books, which you probably don't, there will be a little button up here that says Accountant. I think it might be under – because I can do it because I'm in the accountants edition. Yeah, I'd have to switch over to the accountants edition in order to be able to do it. It doesn't look like I can do it here. So for you, no. But in the accountants edition of Quick Books, yes. Next question. Yep, so Tabitha is asking what you mean if the donations are showing up separately and as a deduction in the registry? Okay, if donations are showing as a deduction in the register, then I have to look at your data file. I don't know what the answer is, but something has happened that is terribly incorrect. I think I know what it is. I think when the person created the item in the item list, instead of pointing the item to an income account, they pointed the item to a bank account. And that's probably what's happening. So that is a bit of a mess that I can help you fix with the tech support. Any other questions? There seems to be a couple of questions on the receipt. People are asking why there are two classes on the receipt. Yes. So what they're referring to is why is there a class up here, and then there's also a class down here. This class up here is irrelevant. The only benefit of pointing a class up here is because now when you go down here and you enter something, it will default. It becomes the default for the class that's up here, but this is the class that matters down here. So I usually don't even fill this out because sometimes you want to take an individual donation or contribution, and you want to split it between different classes. Next question. Okay. Some of these are asking, can you import information from Quicken? Yes. When you set up a new company file, you can actually import information from Quicken. I have to act like I'm setting up a new company. Let me see. Where is new company here? What happened? There used to be a window that said new company. If I go to File and I click New Company, it asks you if you want to set up a company, and there are other options. One of them says Convert Quicken Data. So it's doable. So enough of that. I'm going to move on because we've only got like, I'm going to stay late. We're going to be, this seminar is going to run a little long, probably 10 minutes long, but you're getting really great information so you should totally be happy with that. I've decided. So I'm going to go ahead and I'm going to do in-kind contributions next because I know that's something that probably the people that have been using QuickBooks for a while need, and I'm guessing a lot of you already knew that other stuff. So let me teach the in-kind contributions. It's only going to take a second. So first of all, what are in-kind contributions? It's anytime somebody gives you income, but instead of giving it to you in the form of money, they give it to you in the form of either stuff or services. So I have a client that's a better women's shelter, and they get their money, I'm sorry, most of the stuff that they get, they get donated for the women. So they get all these bags of clothing, and they get food, and they get household goods. That's stuff that they get. They would have had to have bought it otherwise so they need to record it as an in-kind contribution. So very important to record in-kind contributions. Now there's not a button even in the nonprofit edition that says in-kind contributions, there isn't one. So what we're going to tell you to do, and this may freak you out, is in-kind contributions are best entered using a journal entry. I know a lot of you are going, oh God, I don't know how to do journal entries, but I'm going to give you a little chart in a second that will make it easy for you. So I'm going to go to Company, I'm going to go to Make General Journal Entry. So anytime you have an in-kind contribution, what you want to do is you want to record a journal. First you've got to create an income account called in-kind contributions. There it is, in-kind contributions right there. And then you're going to record either a debit or a credit. Now if I want to make in-kind contributions income go up, do I debit it or do I credit it? What do y'all think? Somebody give me an answer. Do I debit or credit to make in-kind contributions go up? Somebody give me an answer. I'm looking for a little thing here, but what do we got? I think it's more credit. I'm seeing more credit. It's more credit than debit? Good, because the correct answer is credit. Now I'm going to show you where is Pregnant Alice. I know she's somewhere in here. Of course now I can't see her. Let me do it this way. There she is, Pregnant Alice. Okay, so here's Pregnant Alice. Let me get out of here. Here's Pregnant Alice. I'll zoom in on her. Oh no, that might be too big. I'll try that. So here's Alice and she is pregnant. You see her stomach is sticking out? That's what the X's are doing. So if you want to make an account go up, if it's an asset, that's the A in Alice, you push debit. Now all the way at the bottom if it's an expense, you push debit. But if you want to make any other type of account go up like an income account, you pass credit. So that's what the credit column is. Now if you want to make an account go down, you do the opposite. So I think David, if you could attach the chart, or is it already attached to what they can view after the webinar is over? We'll make sure it gets sent out with the thank you email and the access story. Alright, cool. So I'm going to go ahead and I'm going to credit this. Now you credit it for the fair market value. So in this case these are counselors that are providing counseling at a discounted rate. They normally charge $20 an hour. They are $100 an hour. They are charging us $20. So $80 an hour times $10 hours. That's $800. And then what you want to do is you want to point it to the same expense account that you normally would have pointed it to had you written a check for it. We put it to counselor's expense. So that's how you record an in-kind contribution. Now I will tell you one thing about this. If you do what I'm telling you to do, point the expense to the same expense account you would have done had you written a check, you might get a problem from the board. Now that's the right way to do it, but you might get a problem from the board. Let me show you what happens if you look at a report that you would give to the board. We'll do a budget versus actual report. That's typically what you give to the board. And you'll notice, let me make this total lonely, that oh, did I not record that transaction? I may not have recorded the transaction. Hold on, let me pull that up again. Journal entry. Yeah, I don't think I recorded it. In-kind contributions, crediting $800, debiting counselor's expense. Now it's very important you point it to a class. This goes for the Counseling Center. So I'll save that. Okay, there we go. So if you record it, notice how the in-kind contributions in-kind account won't have a budget line for it, which is usually fine. Boards don't really expect a budget for the in-kind. But if you pointed it to the same expense account that you would have pointed it to had you written a check, and you didn't budget for it, it's going to make it look like you overspent on one of your expense accounts. So what some people do is they simply wait until the end of the year to book in-kind so they won't get questions from their board. Other people, they go ahead and budget to include their in-kind. And then a third option, which is my least favorite, is to create a set of expense accounts for in-kind also. You can certainly do that, but then you'll have a bunch of in-kind expense accounts that don't have budget lines on them too. It just makes the chart of accounts longer. So let me stop and see if we have any questions on in-kind, and then we're going to move on to expenses. And we've still got restricted grants. So this is definitely going to run long. We've got any questions on the in-kind contributions? All right. So for in-kind contributions, how do we enter the name of the donor as a vendor or as a customer? Very good question. So when you're entering an in-kind contribution, whoops, you do it as a journal entry. And I didn't put the name in here, but you should enter the name as a customer. You should enter the name as a customer. And you enter it on both sides, and then you'll be able to get good reports. What's next? Okay. Could you make the in-kind a sub-expense? Yes. What some people do is under every single expense account they have a sub for in-kind. You could certainly do that. I think it's a little messy, but you could certainly do it. Next question. Okay. Can we enter a value of airline miles as in-kind? Yes, you can. Airline miles. Well, wait a second. If they were donated to you, you could. But if it's just miles that you earned, I think you've, well, I don't know. I could see an argument for that, but it's not really a donation, is it? It was really part of the cost of your ticket. So I'm not really sure that I would book it if it's my own miles that I earned, but if somebody donated miles, absolutely. Let's cover the last couple of topics real quick so that I feel like I've covered everything and then we'll stay long to answer questions. Okay. So the last income account, I'm going to go ahead and do restricted grants real quick. So let me go to a different data file here. Now most of you have grants, and many of those grants have restrictions. You can only spend them on certain things. And what's the most important thing you've got to find out about a grant at the end of the grant period? What do you have to report to the board? I'm sorry, not the board. At the end of the grant period, what does the funder want to know about your restricted grant? Go ahead and chat me up with an answer. Do anybody know? Expenses, how it was used exactly. So what we have to have is we have to have a way of tracking our expenses. In other words, when we enter an expense, we need to know what grant paid for it. So I'm looking at a check screen now and you can see we can't use the chart of a countless because that's where we put the natural category. We can't use the class list because that's where we put the program. But that leaves the customer job list. And that's where you want to put your grants in the customer job list. So even if you aren't going to use QuickBooks as a donor database and you won't have all your donors, members, or students in the customer list, you still are going to have your restricted grants. So here's what I've done. I've created a customer for each grant. Notice how I've got one grant. I'm sorry, I've got one funder, but I get a grant from them every year. I've set up each grant as its own name in the customer list. So that when I'm entering an expense, I can say which grant it applies to, the Help for You 19 grant, or the Help for You 20 grant. Because sometimes the last payment for 2019's grant was actually the expense was incurred or paid in 2020. Sometimes that happens. So as long as when you enter transactions, you point them to a grant. And that's that way for checks. It's also that way for bills right there. Then you can look at a report, and I'm just going to show you how to get a report that tells you how your grant dollars were spent. We go to reports. We go to company and financial. And instead of doing a profit and loss by class, we do something called a profit and loss by job. Now when they say job, they really mean customer. We say we change this, but this is a P&L by customer. When I click it, it gives me a P&L for every single one of my customers. So it doesn't just give me grants, but it does give me the grants. So here's a grants free us foundation. We have $5,000 we got in. We spent all $5,000 on equipment rental, so we have none left to spend. But it's also giving me names that aren't restricted grants. So what we want to do is we want to use something in QuickBooks called filtering to filter this report down so it only gives me names that are actually restricted grants. So what you want to do, and this is something you can do in the desktop edition. You can't do it in the online edition, but in the desktop you can. You go to the customer list, and every time you enter a grant in the customer list, you want to go to the additional info tab, and you want to give it a customer type of restricted grant. Customer type is a field that you all have in the desktop edition, and you create your own customer types. And I've created a customer type. You just click Ag New to create a type. I've created one called restricted grant. So then what I can do is I can, every single grant that's restricted, I've made that type. And then whenever I want to get just a report of my grants that are restricted, I click Customize, I click Filters, I go over to Customer Type, and I click Restricted Grants, I click OK, and now I get a report that's giving me basically a P&L for each one of my grants. It's telling me how much I have to spend out of each grant, and it's also telling me where I spent my money in each grant. Very, very powerful report. So I want to just do one little thing, and then I'll feel like I've finished, and then we'll take about 10 minutes and we'll do questions. And that is how to enter expenses. Now most people already know how to do this, so there's not really much to teach. But when it comes to entering expenses, what some people do is when bills come in the mail, they click the Enter Bills window, and they enter bills right here. They enter the name of the vendor, the date of the bill, they put the dollar amount, they put when it's due. Here's where you can point it to an expense account, and here's where you point it to a program. Then when it comes time to pay it, they click Pay Bills. And what this allows you to do, you check this off, you pay your bills this way, and what it does is it lowers the bill, and then it creates a check for you. Now if you want to print your checks, you click to be printed, you click Pay Selected Bills, and it creates checks that you can either print. Well you can print now by clicking Print Checks, or you can click Done. Maybe you don't want to print the checks immediately, so you go to Print Checks over here a week later or a day later whenever you're ready to print, and the checks are sitting here waiting to print. So you make sure this is the right check number in the printer. You've got to get these checks from either into it or somewhere else. You click OK. QuickBooks will print either of any of these three styles. Most people use the voucher style because it's an 8.5 x 11 sheet of paper, and it gives the vendor, this top third is the check, the middle third is a voucher that you give to the vendor and it lists the bills being paid, and then the bottom third of this thing, let me see if I can zoom in. The bottom third of the voucher is perforated. You tear it off, staple it to your copy of the bill. It's all nice and anal retentive, and everybody loves it. So some people want to hand write their checks. You can still do everything that I showed you here. You enter your bills, when it's time to pay it, you click Pay Bills, you check off what you want to pay, and then you click over here Assign Check Number. That means you want to hand write the checks. You click Pay Selected Bills, and then over here you put the check number. They're assuming you have the checkbook next to the computer, and you're handwriting the checks, and you put the appropriate check number. Now, that's called using the accounts payable portion of QuickBooks. Some of you don't use the accounts payable portion of QuickBooks. I think you should all use it, but some of you don't. And if you don't, that's okay. You guys, you just go to the right check window, and you can certainly go there, and you just fill out the check just like you would a bill. You can either print it, or you can hand write it, in which case you just type the check number up top. Some of you pay with a debit card. If you pay for things with a debit card, that's very much like a check. So people want to know where to enter their debit card transactions. You enter it in the right check window. You go to the right check window, up here in the number field you put debit, and then you just fill it out as if it was a check. And that will basically lower your bank account and record the expense. So I think that's it. So let's do this. Let me take a couple of questions first, and then we'll finish up, and then we'll take some more questions to kind of break it up. Go ahead and ask a couple of questions here while I'm setting up the last couple of polls that we've got. Okay. So somebody is asking, what about if you use e-checks? Then what you would do is you go to the right check window, and you would type online instead of debit. Next question. Okay. Let's see. I have in-kind expenses that are reimbursed under other programs. How do you pay for that in-kind expense? In-kind expense that was reimbursed under other programs. I don't know what that means. I think I need more information on that. Okay. I'll have more detail, but I'll move on to the next question. Let's see. Okay. Does QuickBooks allow you to do an end-of-year contribution receipt for each customer? Yes, it does. And I'll show you where to do that. Not necessarily a receipt, but it gives you an end-of-year contribution report. So let me do a couple of things here. There's a couple of things I want to do. There's a couple of polls that I want you to take. One of them is, I don't know, we'll skip the funny one because we're almost at the end. What's this poll? Oh yeah, here we go. Let's do this one. Let's do this one. So once a month we have a little e-mailed newsletter. And what it has, it's a little video newsletter that gives you a link to a YouTube video, and it gives you a little tip to make your life easier in QuickBooks. I'm not going to share your list with anybody. You're not going to be inundated. It's free, and it just shows you something that teaches you a little bit about how to do the QuickBooks. And you can check any of these things except, no thanks, any of these things, that's an interesting way of doing it. But it's video-based, it's informative, it's fun, and it's free. So if you want it, just check any of the top boxes. If you just don't want to learn anything more about QuickBooks for free, then click no thanks because I know you're doing it because you think we're going to inundate you, but we're not. I promise. I pinky swear. And pinky swear is a big deal. So anyway, so go ahead and answer that. And I'll let that go. Now we've got 590 people on the call still, so that's still pretty good. And you guys are going to get an extra benefit because we're going to stay on the line and we're going to answer your questions, but we're also going to give you something else. So let me go ahead and skip to the results here. It looks like most everybody, those 20 people that didn't want to get it, everybody else said yeah. Now if you want to learn more, which I'm assuming you do, here is the coupon codes. Now we have training products. And what they are, they are DVDs with follow along handbooks. One of them is called QuickBooks Made Easy the Essentials. That product you can get on TechSoup's website for $109. It's normally $300 and it will teach you the essentials. If however you feel like you understand QuickBooks and a little bit better than just the basics and you want to get beyond the essentials where we cover how to do a thank you letter, how to get an in kind contribution in much more detail than we did here, how to do special fundraising events, then you can get, and there's a bunch of other stuff, you can get the Beyond the Essentials training product for $149 and it's normally again $300. So you can also get tech support for us from us where you can call for a year and get any of your questions answered. We can even dial into your software. It's $200 for an entire year. And you will be able to call us 24 hours a day. It's normally $499. You're going to get it for $199. The prices are so cheap that this is only going to last for 48 hours. So be sure to write down those codes. And you can go to QuickBooks Made Easy. You've got two days to buy either or both of these products. So let's do this. Let's stay on the line and answer a few more questions because there's still 560 people on the line and I'll share my screen. Let me show you where you can go to get the year-end letter. It's not really a letter, but what you do is, and I need to go to a different file for this. Let me go back to an older file here, this one. As I said, I can't get you a year-end letter directly out of QuickBooks, but I can get you a report that you can attach to a letter. And I just got to wait for this thing to open. And sorry about the delay here. And I'll show you where to go to get this. Now it is going to require that you enter your donations using the sales receipt form or the invoice form, either one. But then what you're going to do is you're going to go to Reports up here at the top. You're going to go to Sales and you're going to do something called a Sales by Customer Detail. The summary is what we went to before where we got totals. We click Detail. You put in your date range and it would be for a calendar year because you do this at the end of each year. And then it gives you a report that lists the individual donations for each person. Now you can probably go and get rid of columns that you don't need. You can pretty this up by using this Customize Report button. I can just get rid of columns real easily here. But then when you get it like you like it, you go to Print. And when you go to Print, this is the most important part. You'll see a thing here that says Page Break after each major grouping. If you check that box, then when you go to Print, you will get a separate page for each person. And then you basically will need to create a letter that says, thank you very much for your donations. They are attached. You can also create that out of QuickBooks. But here's where you go to get the report. What's next? What else do we have? Let's see. Okay, so we have a couple more minutes. Let's see what happened to Board Reporting. My Board wants more than just Budget vs. Actual. Okay, so what I would typically say for the Board is that you would give them a Budget vs. Actual Report and you would give them a Balance Sheet. So that's what I give the overall Board. Now you're saying your Board wants more. I need to know what that is. One thing you could give them is a P&L by class. That's a cool report, but it gives you kind of like departmental reporting. But if you ask me for a specific report beyond that, overall, I don't like giving too much to the general Board. Finance Committee is a different story. But is there something else? So let's move on to the next question and then we'll come back and see if there's something in particular she wants. Okay, there's some questions actually earlier when you were doing the thank you letter about customizing it and adding logos and customizing the font. So it takes me 30 minutes to teach it, but I will show you a couple of quick things real quick. So basically you have to create your own template. And this is the templates list here to create your own template. You go to lists and you go to templates. And then this is where you can create your own template. And I'm just going to click on the one that I already created, but you would just go over here and you'd click New. But I'm just going to edit this one. And if you go to this Layout Designer button right here, you will get this screen. And this is where you can go to add a text box. This is an image. This is where you add your logo. You click it, you pick your logo, you click Open, you click OK, and then you can click and drag to move it around the form. We'll get rid of this one. Remove this, put this up here, click OK, and now that's what it looks like. And you can do that on an invoice form. We're going to take, give me one more question and then I want to show you one more thing and then we'll end. So what's one more question? So Denise is wondering if you have any recommendations for cash flow projections. So QuickBooks does not have cash flow projections. If you go to the reports and you go to Accountant and Taxes, you'll see, no, I'm sorry, Company and Financial, you'll see something that says cash flow forecast, but it's a real weird looking thing and it stinks. What most people do, Denise, is they will take a P&L and they'll run it for the year. Let's see, this fiscal year. And they'll make the columns B by month and they'll send this over to Excel and then they add a thing at the beginning that says Beginning Bank Balance and a thing at the bottom that says Ending Bank Balance so you can see what your cash flows are going to be like. But it's not something that you can create directly in QuickBooks. And I very much apologize for that, but again, I don't work for Intuit so that's okay. I want to teach you more, but we're basically done here. So I do want you to make sure that you have both these codes here so that you can get beyond the essentials and you can get a year of tech support for these prices. Additionally, at the TechSoup website, you can get the essentials from TechSoup. So it's a two product set. The first product is the essentials and it teaches you all the basics. A lot of what we covered here is in it and it's $300. You can get it at TechSoup for $109. You can get it either in the online version or in the desktop version. But if you want beyond the essentials you get that by going to the QuickBooks Made Easy website and that's where you go to get tech support also. If you haven't bought QuickBooks yet or you need to upgrade, you can get that from TechSoup as well. And this is showing you, I think this is another screen. So this is all the stuff that's available at the Intuit website. I don't see the one here for our product, but our product is there as well. So I'll let you go ahead and finish up. Fima? Fima. Yep, I'm here. So thank you so much Greg. We're getting a lot of great feedback in the Q&A. So just before everyone drops off, if you guys want to chat one thing that you learned today that you didn't know before you attended, it's always helpful for us to kind of understand what people found valuable for future content. Also you'll be getting a post event survey. So any feedback that you have for myself or for Greg, it's always useful for us to know so that we can customize our webinars so that you guys can learn with us. Also we're on social media so if you're on Facebook, Instagram, or Twitter we would love to have you guys follow us. We post a lot of tips and tricks and videos and blog posts and things like that. We also have a blog which is blog.techsoup.org where we post articles several times a week. We try to make them also as helpful as possible. We have another webinar coming up this Thursday with Greg again. So it's QuickBooks Online for new nonprofit users. We have another one next week, QuickBooks Online for existing nonprofit users. And then we have a couple more webinars. At the end of the month one is around Cloud Identity on 320 and then on 327 we have Digital Fundraising Tools and Trends on March 27. So just one more. Thank you to Greg, to David, to Megan, to LaChica, and to Allison who are all answering questions on the back end and to our webinar sponsor ReadyTalk and to all of you guys for attending. Thank you so much.