 Welcome everyone to QuickBooks for Religious and Faith-Based Organizations. Thank you all so much for joining today's TechSoup webinar. Before we get started I'd like to make sure everyone is comfortable using ReadyTalk, the webinar platform we are on today. You can chat into us to ask questions or let us know if you need any technical help at any time throughout the webinar using the box on the lower left side of the screen. You don't need to raise your hand to ask questions so just feel free to chat them as they come to you. We will keep all lines needed so we get a clear recording for your use to watch again at your convenience or to share with friends and colleagues. Most of you are hearing the audio play through your computer speakers so if you are hearing an echo right now you might need to close additional instances of ReadyTalk. And if at any time the audio and the slides fall out of sync or if the live stream when we start to do the live demo falls out of sync with the audio, we recommend dialing into the toll-free number that Kevin will chat out into the chat window again for you. If you lose your Internet connection, reconnect using the email link, the big join meeting green button in those emails. You should have received a reminder an hour ago that included a link to the slides on the right side of that email. Again today is going to be largely live demoing so those slides won't capture everything that we will be covering but they are there for you as a resource. We do record these events to make them available on TechSoup's website. This is also where you will find our upcoming list of webinars and I will mention some of those at the end of today's webinar. You can also find them on our YouTube channel at TechSoup Video. Within the next few days you will get an email with the full presentation, the recording, and any links that we discussed. You can tweet to us at TechSoup or using the hashtag TSWebinar. My name is Becky Wiegand and I am the Webinar Program Manager here at TechSoup and I am happy to be your host for today's event. I am joined by our expert Greg Boston and I am thrilled to have him on always these webinars are a lot of fun. This is the first time that we are doing this topic specifically for religious organizations. So we really value your feedback this time in particular since it is the first time we are doing it on this topic for this audience, a webinar platform in 90 minutes. So today's event is a 90 minute event. So Greg is a practicing CPA and Advanced Certified QuickBooks Pro Advisor with a full time full service accounting firm located in Atlanta, Georgia. And he is the founder and CEO of our donor partner QuickBooks Made Easy. He's been teaching courses like this both live as seminars and as webinars through TechSoup and other places around the country designed for nonprofits and also religious organizations. So he is a national expert and we are really happy to have him on. You will see on the back end Jenny Maddox, Jennifer Maddox from QuickBooks Made Easy and David Webb will be on hand to help answer your questions as well as Kevin Lowe from TechSoup. So we will be here to help you throughout the webinar. So ask those questions when you need to. Looking at our objectives for today I will do a quick introduction of TechSoup and QuickBooks Made Easy so you walk away with an understanding of what is available to you. We will talk about which version of QuickBooks is best for you. And then Greg will show these steps live on screen getting around in QuickBooks. We will be using QuickBooks Premier today, not the online version. So if you are using the online version some of this will look very different and some of the features may not be available. He will cover all of these different areas. We hope we will have time for all of it and we will have time throughout for questions and we will do our best to get to as many as we can. So TechSoup is a 501-C3 nonprofit. We are everywhere on this map that is blue. Feel free to chat in to let us know from where you are joining us today. If it is from outside the United States we recommend visiting TechSoup.Global and selecting your country from the drop-down list. Some of our donation programs are only available in certain countries and others are available all over the place like Microsoft donations. QuickBooks Made Easy I believe is focused primarily on the United States. So if you are joining from the United States you can access the discounted QuickBooks Made Easy The Essentials which is to get started if you are new to the program. This shows that we have delivered donations to the tune of $5.4 billion to nonprofits all around the world since 1987. And before I hand off to Greg I just want to mention for those of you who aren't able to stay with us for the full 90 minutes that if you are looking for QuickBooks or if you are looking to upgrade at some point these are the different programs available to you through the Intuit donation program at TechSoup.org slash Intuit. And you can access QuickBooks Premier one user license, three user license, QuickBooks for Mask, or QuickBooks Online. And like I said, Greg is going to go over which of these may be best suited for you among all of the different versions that are out there. And 501c3s in public libraries, if you don't actually have a 501c3 as a church or religious organization or synagogue we can usually validate you anyway and get you qualified because churches are c3s without necessarily having to have the paperwork for it. So with that I'm going to go ahead and turn it over to Greg to talk about QuickBooks Made Easy and his background and get us started on today's topic. So thanks so much for joining us Greg. Thank you Becky. How are you doing? And how's everybody doing? I can see your chat. I like to talk a lot and I like to hear from you guys. So say hi in the chat. Just say hi so I know you can hear me. I'm not good with the phone thing and I had it on mute. I want to make sure you can still hear me. Okay, there you go. I'm seeing it. Yay. Gail says hi Greg. She can type my whole name. Oh, hi from Colorado Springs from Ohio. This is cool. McKinney, Texas. Okay, Thur is from Hawaii. So I think that person wins. We love Hawaii. We teach in Hawaii every year actually. Alright, so that's cool. So how is it going everybody? And also Jenny and David can you go ahead and just say hello to me so I know I can hear you and they can hear your voice as well. So say hello Jenny. Hello everyone. Hey everybody. There you go. Alright, cool. So what we're going to do is as we go through here I'm going to give you the opportunity to ask questions throughout. We'll stop and take questions. You can obviously chat the questions. But anyway, they'll be reading me some of the questions live. So between them typing questions and me answering questions hopefully you'll be able to get most of your questions answered. So as far as me, she already explained it, but I'm a CPA within accounting practice in Atlanta, Georgia and I specialize in nonprofit organizations. I also own QuickBooks Made Easy. And QuickBooks Made Easy is a national company and what we do is we teach specifically nonprofits and construction contractors. But specifically we're really focused on nonprofits to be honest with you is mainly what we do. We teach nonprofits how to use QuickBooks. And how do we do that? Well, we have training products that we sell. We have tech support that we sell. And we have live seminars. So what we're going to do today, and I'll be honest with you, this is the first time I've ever taught a class just for religious organizations. And I realize that it really needs to be longer than 90 minutes. So what we're going to do is we're going to give you a nice overview. We're going to pick the things that we think are most important and most unique for religious organizations. And then we're going to give you the ability to get our training products, our tech support at vastly discounted prices. We also do live seminars across the country. So here's where we are going over the next few months. November is a very busy month. And then we've got a couple of things in December and then we start in 2017 with some webinars and then some other ones. So look at that list. If you're in one of those states and you like me, you've got to decide whether you can deal with me. Come to the live seminar, all right? So as I said, we have tech support and we have training products that we sell. And we're going to highlight our annual tech support. It's actually only, well normally, normally tech support is $2.99. We're going to give it to you for $129. And then we also have a training product called Beyond the Essentials that has a lot of the stuff that churches need. That one, we're giving that to you for $129 too, which is very $100 off what it usually is. So these are the codes to get it. We'll worry about that in a little bit. Right now let's just get into it. So one thing I always need to say, in case you don't know, QuickBooks is a financial accounting software package. It tracks invoices. It tracks expenses and accounts payable. It will allow you to do payroll and process credit cards within it, but that's an extra charge. And it also functions as a light donor database. And we're actually going to look at how you can use QuickBooks to get good donor reports and donor letters out of the software. So let's look at a poll because I want to see how new people are to QuickBooks. So we have a little poll here. And has the poll been started, or do I need to push something to start the poll? Nope, the poll is running. So go ahead and let us know how you're feeling. Right, and I actually meant to customize this a little bit more. So that third one that says, I know QuickBooks, but not for nonprofits, it really should say churches, and I just didn't customize it. So I apologize for not fixing that before this morning. But yep, go ahead and weigh in and click on those little radio buttons and we will share the results to everybody in just a moment. There's 150 people here, and I've only got about, I don't know, about 80 or 90 answers. So go ahead, everybody I want you to answer. If anybody stepped away from the computer, you need to step back because I want you to answer this question. Now it does look like 75, so about half of the people that are listening, I'm going to go ahead and skip to the results and show you what the results are. But it looks like, well 63% of you know QuickBooks but not for nonprofits. But there's also 12% of the kind of brand news. So I'm going to start with some basic stuff and then we're going to specifically look at how to set the books up if you are a religious organization, which is very unique. It's different than other businesses. It's even different than other nonprofits. And we do have six people that thought this was a tap dancing class. That's awesome. So anyway, good for you. It's nice to have a little sense of humor. All right, so let me switch to, all right, so this is what we're going to cover. We already kind of talked about what TechSoup and QuickBooks made easy is real quick that we're going to cover what the version of QuickBooks you need to get is. Then for the new people we're going to look at getting around in the program. Then we're going to look at the proper setup of accounts. And I know there are some people here that know QuickBooks really pretty well but I will tell you even if you know QuickBooks really, really well, if you've not used it for a religious organization you might be surprised that the reason why you can't get the reports out of the software you need is because you haven't set it up right. So we're going to look at the proper setup for the chart of accounts, where to track your ministries or committees. Then we're going to look at how you can actually use QuickBooks to generate a thank you letter and the best way to enter donations to get good reports. And then we're going to look at how to track funds. So what I'm doing here is again I'm just pulling what I think is the most important, most relevant part of using QuickBooks for religious organizations. All right, so let's move on. So there are actually five different choices of QuickBooks and three of them, you know what, three of them here, I'll just pop this up, QuickBooks Pro, Premier Non-Profit and Enterprise Solutions. These are for people that are using the desktop version of QuickBooks and you have a PC. Now if you have a Mac there is one choice for the Mac. So if you have a desktop version of QuickBooks then you either get Pro, Premier Non-Profit, or Enterprise. And if you have a Mac then you only have one choice, QuickBooks for the Mac. Now there's one more choice and that's for people that are decided rather than purchasing QuickBooks and downloading onto their machine like Microsoft Word would be, instead they're renting QuickBooks and it's in the cloud. That's called the online edition. Now I'm going to tell you right now which one should you have. It's a very easy choice. You should have this one. All right, QuickBooks Premier Non-Profit. The online edition and I know Becky mentioned this but it's not a great solution. Does anybody have the online edition now? Go ahead and chat if you have the online edition now. I want to see, just say online. Who has the online? So Joel does, Paul does, anybody else besides those two? John does, Gail does. So we've got about, it looks like around 9 people out of 156 that actually have the online edition. Online edition, not a good solution for a religious organization. We're going to show you how to track funds. You cannot do it in the online edition. You can do it in the desktop. We're also going to show you how to get a thank you letter out of the desktop edition. You cannot get a thank you letter out of the online edition. So I'm really sorry about that. I have the online edition popped up. And as I teach, if any of you have questions about, wait, how do you do that in the online edition? I'll be glad to flip over and show you because I don't want to waste your time. But I think probably the best piece of advice I can give you is to see if you can get them to change you back over to the desktop because you're not going to be able to do a lot of the things that religious organizations need to do. So I think that is it. I've got one more poll. You know what? Yeah, let's do this one more poll and then let's see just to kind of have a little fun here. So do one more little poll here. So who would you most like to see in concert? And we have Adele, Fleetwood Mac, Lincoln Park, Belton John, Rihanna, Sinatra, Johnny Cash, and then of course me, Greg Bossett, which we've got like six people that have chosen me. I wonder if it's the same people that thought that was a tap dancing class. But anyway, it doesn't look like. Come on, go ahead and answer. Everybody get an answer here. Well, this is a waste of time. So let's go ahead and we'll skip to the results. It looks pretty even to me actually. This is kind of curious. I'll go ahead and skip to the results here and you can see who won. Adele won, not surprising. I live in Atlanta. She's going to actually be here next week. I wish I could see her, but I didn't get a ticket. All right, so now what I'm going to do is I'm going to share my screen. And so this will just take a second and I'm going to share my screen here. All right, so now what you… Let us know when Greg is sharing his screen. He won't be able to see your chat questions, but there are a few of us on the back end helping to watch your questions come in and flagging them and we'll be raising them up verbally to Greg at different points throughout this. So feel free to ask. Thanks Greg. All right, so right now everybody should be looking at QuickBooks. So if you don't see QuickBooks on your screen, then something is terribly wrong. All right, you should be looking at QuickBooks on the screen now. And I just want to tell you that what you're looking at is the desktop version of QuickBooks. So this is basically the one that you get at TechSoup. It's $50 for one of these things. And that is really, really cheap. This nonprofit edition of QuickBooks, which is the one that you want, usually sells for a lot more. It usually sells for around $479. Actually I need to switch over to the nonprofit edition. That's a mistake that I made. So let me do that. Now while that's happening, just for the few of you that have the online edition so you don't feel left out, and then also for the rest of you so you can understand, those of you that have the online edition, what they do is they go to qbo.intuit.com. They go to this website here, qbo.intuit.com. And then they click this sign-in button, and then it clicks them over to the online edition. Look at how different the online edition looks than the desktop. The desktop version is very, very different. I'm opening up the desktop now. I had to close it and reopen it. Sorry about this. All right, great. So here is the desktop edition. And you can see that it's very different than the online. So here's the online. Doesn't do tracking of funds, can't get a thank you letter. Does do tracking of funds, can't get a thank you letter. All right? And then the only other thing I need to do is I need to switch to a different company. Let's see, this is the company that I need to switch to. All right, so the next thing I want to do is I want to give you just an overview for those of you that are new. And I know there was a number of you that are getting around in this program. And for those of you that already know QuickBooks really well, I want you to listen up anyway because it's kind of, you might learn something, and also it's kind of helpful to kind of see how I teach it and then you can teach others. Plus you can tell me if I've screwed up anywhere, right? So basically what you're looking at is the home page. And at the very top, you see this little thin bar up here? This is called the title bar. And it's telling us two things. Let me put my little arrow here. The first thing it's telling us is what organization we're in. So I named this organization the First Church. And then over here, the other thing it's telling us is what program we are in. Now I'm using QuickBooks Premier Nonprofit Edition 2016. That's the one you can get for $50 from TechSoup. That's the one I think you should get, all right? Now there are three other things here. And these other three things are simply ways of getting around in the program. This main page here is called the home page. It's basically a flow chart. It gives you little icons. It doesn't give you everything QuickBooks does, but it gives you the major stuff, okay? The second way of getting around this fat bar up here, this fat bar is called the icon bar or the tool bar. And the third way of getting around is this little thin bar up here and it's called the menu bar, okay? So all three do the same thing that just get you where you need to go in the program. You see this thing that says Write Checks? If you click it, it opens up a picture of a check. Note this check number. It's 1003, okay? So that's one way of getting around. And if you're new to QuickBooks, six months or less, use the home page because it's not so overwhelming. It gives you just the major icons, major things you need to do. And it tells you the order that you're supposed to do stuff, okay? Now the second way of getting around is this fat bar here. Now this fat bar is called the icon bar or the tool bar. And it also has not everything, but just the major stuff. I'm going to click on check. Open up a picture of a check. Notice this is the exact same check number, 1003. Just kind of highlighting, these are different ways to get to the same place in the program. Now the thing about this icon bar, and this is kind of funny, those of us have been using QuickBooks for a long time. We're used to seeing it on the top of the screen. About four years ago they made a change to where if you wanted to, this icon bar could appear on the left-hand side of the screen. So I'm going to go to View, and I'm going to click left icon bar. And if I do that, it appears on the left side of the screen. And then your icons, and they're kind of so you can scroll down to get to them, and here's the check. So this is probably what most of you see if you have been using QuickBooks just a little while, because the newer versions they come with the default is that it's on the left-hand side of the screen. I don't like it, and neither do the rest of us that have been using QuickBooks for a while because we don't want change. So what you can do is you can go to View and you can click top. And then it will be up on the top again. So that is the icon bar. And then the little thin bar is what I suggest you start using after you've been using QuickBooks for a while. This gives you pretty much everything that QuickBooks does. Let's say we want to write a check. That's under one of these areas. And I'm going to ask you all. I like to ask questions, and you can just chat your answer. And then David or Jenny tell me what they say. Where would you go to write a check? Under which one of these? Where would you go? Vendors, employees, where would you go? Anybody know? We have folks playing in banking. Somebody else is guessing vendors. You would think it would be vendors. I thought it was too, because that's who you write checks to. But no, no, it's banking. So you just kind of get used to it. Write checks, 1,003. So just kind of different ways of getting to the same place in the program. Now if you are someone who is kind of scared, you're brand new to the program. I know there were a few of you. You see this stuff over here on the right? That's the only thing I haven't explained. If you don't like it, all it is is a big advertisement, this stuff on the right. If you're getting nervous, just hide it. Just put it off to the side and now you'll feel better again. Home page, icon bar, tool bar. I'm sorry, this is the icon bar. This is the menu bar. And then this top bar here which is called the title bar. So I'll stop and I'm going to take maybe one or two quick questions and then we're going to get in to what the chart of account should actually look like. So does anybody have a question on anything we've covered so far that either Jenny, David, or Becky can read to me? Yeah, so I'm going to just jump in really quickly. We do have a bunch of people who are using QuickBooks Online that are asking if it's worth it to stay and watch the webinar if they're in the online version. So that's the first question. It definitely is worth it to stay. And what I'll do is I'm in the online edition now. So I'm about to show you where you go, how to set up your chart of accounts list, and where to put your committees or ministries, and where to put your funds. And that is true. You do it in the same place in the online edition. So just for those of you who are online so you won't feel left out, most of what's on the screen in the online edition is kind of a waste for a religious organization. They're charts and graphs that don't really help. This has to do with businesses that have invoices. So where you go to enter transactions is really mainly one place. And it's just this little plus sign here. And you click the plus sign, here's where you go to enter a check. But I'll go back to that periodically because no, I don't think it's a waste of time at all. We'll take one more question before we move on to what your chart of accounts should look like. Sure. We have some people who are saying they got the online version because they have people located in different states. Can you use these installed ones with multi-user accounts if you're in different locations? All right. So the answer is this, if you want to have the desktop version but you want to have people in multiple states using it, what you want to do is you want to get a company to host your QuickBooks on their server. There's a couple of them that I recommend. I don't know, is it okay for me to say names on here? It's just my personal opinion. So one of them is called Write Networks and the other one is called Unidata. So look those up online and Write Networks I think is R-I-G-H-T. But what they do is you can purchase a multi-user license of QuickBooks and a three-user license of the desktop is only $125 on TechSoup. You give it to Write Networks or Unidata. They load it on their server and then you log into their server. So then people can look at it from different states but at the same time they have all of the features available in the desktop edition. So that's kind of like the best of both worlds. Of course you'll have to pay Write Networks or Unidata for the ability to do that. So I'm going to go ahead and start talking about what your chart of account should look like. So when it comes to religious organizations, religious organizations are very interested in looking at things by committee or ministries. And the Board of Directors wants to see that. Typically what you give the Board of Directors is a P&L compared to budget. So in order to do that I'm just going to go to Reports and I'm going to go to Company and Financial and I'm going to do a P&L. And the reason why I'm doing this is because how you set up your chart of accounts determines what your P&L looks like. In other words, the accounts that appear here, I'm going to make it this fiscal year, the accounts that appear on your P&L, they come directly from how you set up your accounts in the chart of accounts list. So I'm going to click on lists, chart of accounts, here's the chart of accounts. And what I want to do is I want to go over what your chart of account should look like if you are a religious organization. Now listen, there are different rules. There are different answers for different religious organizations. We are giving you on the whole what we think in general is best for a religious organization and then you can use it and apply it to your specific situation. So I'm looking at, now we didn't really talk about the balance sheet accounts. And the reason why is because the balance sheet accounts, it's not really different for a religious organization as it is for pretty much any other business. I'm going to open up a balance sheet. Actually, some of you might not even know anything about accounting. So let me just tell you this. The whole purpose of accounting is to create these two reports. That's all accounting is. It's the process of entering transactions so that you can print these two reports and give it to the board. The balance sheet is a snapshot picture of what you look like in time. It lists all your assets, all your liabilities, and then equity is simply the difference between the two. So it gives you a picture of what you look like at a point in time. Whereas a P&L is more like a movie of transactions over a period of time. And it has income and expenses. So think about it this way. The balance sheet is a picture of what you look like at a point in time and the P&L tells the story of how you got there over a period of time. And all accounting is, is the process of entering transactions so they end up on these two reports. And the way it works is when you enter a transaction before it ends up on these two reports, it goes through a list called the chart of accounts. So when you're first setting up QuickBooks, the first thing you've got to worry about is what your chart of accounts looks like. Because all transactions flow through it and then the lines on this chart make up the two financials. So just to kind of really give you an example, so say I write a check. Every transaction you enter hits at least two accounts. One for a check is whatever the bank account you picked here. I could have picked the savings. I picked the checking. And then the other account is whatever expense account that I put down here. So maybe it would be the pastor's housing allowance. So every transaction hits at least two accounts. And sure enough, if I go to the chart of accounts list, there's the checking account. And if I go down to where I've put all the pastoral stuff, here's the pastor's housing allowance. So every transaction hits at least two accounts in the chart. And then from there the lines on this chart, they make up these two financials. So you see how this says checking and savings? That came and it goes right here to the balance sheet checking and savings. Now these accounts are broken up into different types. And the types determine where they appear, whether they appear on the balance sheet of the P&L. And I'll get to those in a second. But I'm just going to tell you right now, every account that is of the equity type and above appears on the balance sheet. And then everything below equity which is basically income and expense accounts, they appear on the P&L. So if you look, you see how we have contributions and offerings, loose offering, miscellaneous, and interest income. Where did it come from? Right over here. Contributions and offerings, loose offering, miscellaneous, interest income. So whatever you put here appears over here. And additionally, the order that it appears here is the order that it appears down here. So if you're trying to get your P&L looking good for your board which is probably why you're here, the answer is you've got to look at how the Charter of Accounts is set up. So what I've done here is I have basically created not very many income accounts. I have one called contributions and offerings, one called loose offerings. That's the Sunday collection. Then I just have one for miscellaneous and one for interest. Now I know that many times when you get contributions, they're for different things. This is for the building fund. This is for the worship fund. This is for some memorial fund that you're raising money for. There's all these different tags or ways to kind of categorize your donations. I'm going to encourage you not to use the P&L itself for that because there's another list we're going to use for that. It keeps your income account shorter. We'll get back to that in a little bit later. I know some of you may disagree with me but I think by the end you'll see what I'm talking about. Now when it comes to the expenses, this is the one where religious organizations are usually run by committee and this report for the board needs to be organized by committee or ministry. That's how they want to see it. So what I've done is I've created expense accounts for each committee. Here's one for the pastoral committee. And then underneath it I have sub accounts for the actual expenses related to it. Then here's one for the worship committee with all of the subs underneath that. And again, you have your own committees. I just gave you ones that typically I see. Here's an education committee, outreach benevolences, youth committee, administrative committee. So how do we create these? And then the final one is the property committee. How do we create one of these committees? When you do it in the chart of accounts list, you can think of it as kind of like a parent expense account with sub accounts underneath it. You never point transactions to the parent. It's just a way of kind of organizing the chart of accounts list so that it appears on a report by committee. So to create one of these things you go to the bottom left hand button and you click New. Now the committees are expense accounts. We click Continue. And then we'll just create one and we'll call it the choir committee. Did I spell that right? Maybe I didn't. No, I think it's the other way. I know you all are laughing at me now. All right, choir committee. So I'm going to go ahead and click – oh, one thing. For the committees I would make them all – I made them all uppercase because it just makes it easier to see. So there's my choir committee right here. Now then you can put subs underneath it for the actual expenses that the choir committee might incur. So I'm going to go to the bottom button here. I'm going to click New. Now when we're creating a sub account it needs to be the same type as its parent. So the choir committee we made an expense account, so we got to make the sub account that as well. So I'm going to go ahead and click on expense. And then we'll call it – I don't know – the choir has travel expense because maybe they travel all over the world. That would be neat. Traveling all over the world singing and like that answer. All right, so now to make it a sub account you simply click that sub account of and then you pick choir committee and we click Save and Close. And now it's a sub account of a choir committee. Now in terms of how you change the order because you see how it's all the way up at the top here. If you don't like that you can change the order. And remember because the order that appears here is what appears over here. So I've got choir committee up at the top but you see the little – and I'm going to zoom in on this. Hopefully I didn't freak you out too much when I just zoomed in. But do you see the little diamond to the left of where it says choir committee? Actually there's a diamond to the left of all of them. If you click on that diamond that means you can move stuff. So you can effectively pick your own order. Cannot do that in the online edition. And I'll show you where the chart of account is in the online edition in a second. But I'm going to go ahead and click it. I'm going to click the diamond and I'm going to hold down the mouse and drag it below pastoral committee. And now it's below the pastoral committee. I'm also going to take the worship committee and I'm going to click it and I'm going to drag it and drop it on top. Say I want to see worship first on this report. Now the worship committee is before the pastoral committee. So when I look at the P&L now the worship committee is also ahead of the pastoral committee. So now you understand how you can change the order. And I'll just let you look and I know some of you are going to ask, can I get a sample of this? So David let's go ahead and give them a sample of actually you know what you have the whole recording you can look at so you don't really need a sample. But this is just what I typically see with my clients that are religious organizations. Usually they like to see the pastoral committee up at the top. So I'll just move it back up to the top here. That way we can see how much we're paying the pastor and we can give her a hard time. So one of the things that's really neat about this is that when you look at this report you see the collapse button? If you collapse it, it removes all the subaccounts and then you really see it in total like that. I think that's really neat. So try to think if there's anything else that I want to say about this. I don't think there is. So in general… Before you jump off this screen we had a couple of specific questions to this that I just thought I'd throw at you. Do you have to turn off account numbering to rearrange the account order? All right. So that opens up a big can of worms. So let me try and do this pretty quickly. Notice how there aren't any account numbers here. So what I did was in this particular data file I turned off the account number feature. Now you can turn it back on. I'm going to go to Edit – Preferences. Preferences are little features you can turn on or off in the program. I believe when you first get the desktop version of QuickBooks the account number feature is on. I turn it off because I don't want to see it. So I'm going to click Preferences. And these are all the categories of preferences. But if I go to the Accounting category and I go to Company, you see the one that says Use Account Numbers. If I click it, it turns the account numbers on. And then if there are any accounts that have numbers in them, let's go ahead and look at the chart of accounts list. Okay. You see how some of the accounts already have numbers. A lot of them don't. So if you turn the account numbers on then you'll need to immediately go in to Edit an account. And I just right-clicked on it. And then you'll have to put the number in here. And you'll have to decide what the numbers are going to be. Now the question was, do you have to turn account numbers off in order to change the order? And the answer is no. Even though I've got the account numbers you will see the diamonds still appear. So I can simply click and drag. And you can still change the order. And you said there was another question? Yeah. We had actually two little questions. I hope they're little. One was, where was that collapse button that you used? People missed where that was at. Okay. The collapse button is along the top of this report. This is called the Report Ribbon. Here's the collapse button right here. Collapse and then I would just do this for the online people. Hopefully they're still on. The chart of accounts list is in the little gear if you're an online person. So you click the gear and you click chart of accounts. And here's your chart of accounts in the online edition. Notice how in the online edition I've decided to have the account numbers on. And the reason why is because you see how there's no diamonds here, I cannot change the order in the online edition. It's either in account number order or in alphabetical order. So to change the order you've got to turn on account numbers and then put the numbers such that you'll get the report that you want. And by the way, if you're in the online edition here's reports and here's the P&L right here. You can just click on it and it pops it up for whatever time period you want. And did you say there was one more question? Yes. So what if you needed to divide travel expenses under multiple categories? Okay. So if you wanted to – and I thought about that as I was typing it. So if you wanted to under travel, let me go back to the chart of accounts list. Like for instance, you may really want to keep an eye on travel and you want to know how much is airfare versus how much is automobile or whatever gas. You can create subs of subs. Bottom left hand button, new, expense, continue. And I'll call this airfare. And I'll make it a sub account under choir travel right there. It'll be under travel. So then it looks like that. You can go in five levels if you want to drive yourself crazy. So unless there's something really pressing I've got to move on. Okay, cool. So how about you, Jenny and David? Are you all okay? I want to make sure they're still okay. Plus I just like talking to them. David, are you there? I'm glorious. Everything is great. All right, cool. All right. I'm going to see Amy Schumer this weekend by the way if anybody cares. She's at Philip's Arena which is like huge. I'm not a comedian in a arena like that. I don't know. I'm surprised that she can sell that out. Yes, David, as a matter of fact I did. It's a big surprise. Even I don't know about it. All right, so what we're going to do now is we're going to talk about how to enter your income. So once we have the chart of accounts set up, which we do, now we're going to talk about how to enter an income. And by the way, churches and other religious organizations they have something called funds. I have not talked about that yet. I do not want you to use the chart of accounts to track your funds. We'll do that at the end. And it's something really unique to religious organizations and I'm excited to teach it. So anyway, we're going to talk about how to enter your income. Now when it comes to entering your income, the goal of what I'm going to teach is basically how to get a thank you letter out of QuickBooks so you don't have to have an outside of QuickBooks database. So before we talk about the different ways of entering income because there's two main methods of entering income. One is lumping it by category and the other is entering it individually by person, by donor. So you want to lump it by category if you have an outside of QuickBooks database that you're using to track your donations and you're sending out thank you letters from that outside of QuickBooks database. Who has an outside of QuickBooks database? I want you to chat the name of the database so we can see who has what. A couple of examples would be GiftWorks or DonorPerfect would be another one. Salesforce might be another one. I think there's a few just before. We have people saying Parasoft, FileMaker, ServantKeeper, Church Community Builder, Shepard, Staff, Access, GiftWork, Parastatus Centers, Systems, Planning Center, all kinds. So these things are unique for religious organizations for the most part. What is it called ServantKeeper? There's something about that. Anyway, I like that one. But the thing is that these outside of QuickBooks databases, if you have that, then there's no need to enter your individual donors into QuickBooks because you're not going to need to generate a thank you letter out of it. And for the few of you that have the online edition, you've got to have an outside of QuickBooks database. You can't really use QuickBooks as a donor database. But you still, if you have an outside of QuickBooks database, you've got to get the income in here some way so that the bank account will be right and so the P&L will have the income in it. So what I'm going to suggest is that you use the lump by category method which means you go into the record deposit window, you click it, and then you do not repeat, do not enter a line for each person because you already have that in the other database. You don't even put your donors in QuickBooks. There's somewhere else. Instead, whenever there's a deposit in the bank, here, Contributions and Offerings, and we'll put the dollar amount. We'll say there was four checks. They totaled $4,225. And then on that same, this was Tuesday after the services on Sunday and we had Loose Offerings and we're going to deposit those and it was $525. So we're just entering it lumped by category. And that's not actually what I plan on really teaching. What I want to do is show you how you can use QuickBooks to get a donor thank you letter. But for those of you that have an outside of QuickBooks database, that's what I want you to do. So I'm going to move on because the vast majority of you would like to use QuickBooks as a donor database. So I'm going to show you how to use QuickBooks as a donor database. But real quick, let me just say a few things. Is QuickBooks a good donor database? It's pretty good. Can you get a thank you letter out of it? Yes. Can you get a year-end thank you list of donations to give to your donors? Yes. Can you give good donor history reports? Yes. Can you track notes and set up reminders for your donors? Yes. Can you email them out of QuickBooks? Yes. It's really very cool. So let me just show you one report here that's really neat. I'm going to do a sales by customer summary report. Now this report will basically give us a list of donors and how much they've given us for whatever time period that I pick. Notice how I have it all days. Now look at the columns. I'm going to change total only to by year. And then you can see donor history by year. And you can look at somebody like Marie and Chad Brown and see they've given every year except this particular year. Isn't that really cool? This is a great, great piece of software. And it really does work well as a donor database. Now in order to make this work well as a donor database you do need to enter it correctly. So if you do not have an outside of QuickBooks database and you want to use QuickBooks as a database then I do not repeat, do not want you to use this make deposit window to enter your income. Let me pull up that other report again. Here it is. Let me show you why. You see this Parker and Faith Ashford right here? You see how since the beginning of time they've given us a total of $11,360 bucks. Watch what happens. Now this is the wrong way. Watch what happens if I use QuickBooks as a donor database but I incorrectly enter the income directly in the make deposit window. And I'm doing this because so many people do this. And they don't know QuickBooks very well. Contributions, we'll say it was a check. This is the payment method, check. And we'll say it's a million dollars. Now I'm going to go ahead and save this. Now look at this, Parker and Faith Ashford total of $11,000. I click save and close. Well I'll just do save and, oh yeah, actually let's change the date here. So I'm going to go ahead and click save and new. Do you see how it's not on the report? Maybe I need to refresh it. Nope, it's still not on the report. Well maybe it wasn't entered. No, no, no, it was entered. If I go back you'll see there's the million dollars but it's just not showing on this report. That's because you didn't enter it correctly. Additionally if you go to the customer list for Parker and Faith Ashford, this is really neat. Basically this becomes a list of your donors. If you click here you don't see the donation here either. I'll make it all dates just so that you can see. There. You don't see the donation here either because you haven't really entered it correctly. So what I want to do is I want to go ahead and go to the make deposit window and I want to delete this because this is the wrong way of doing it. Now I'm going to show you the right way of doing it. Now the right way of doing it is by using something called a sales receipt. Now if you have the non-profit edition, I'm going to go to home. The sales receipt has been renamed something called donations. This is something that they did because they figured non-profits usually get donations. But if you want to use QuickBooks as a database, this is where you want to enter all of your donations. So I'm going to go ahead and click it and really all of your income. I'm going to click it. It really is just a sales receipt. So the nine of you that have the online edition, it says sales receipt for y'all. So you'll go to enter then the sales receipt. Now watch this. I'm going to pull up that other report real quickly here. And let me just show you what happens when you enter it the right way. Same information. Parker and Faist Ashford gave us a check. Here's the check number. And it is contributions and offerings. And it is $1 million. So I'm going to go ahead and click save and close. And when I click it, now there it is, $1 million. So now it does show. And if I go to the customer list, look, there's the $1 million right there. So now I know very few of you have probably ever looked at the sales receipt before. And for the online people just so you don't feel left out, where is the online edition? Here it is. You see the little plus sign? I'm telling you to do the plus sign and go to sales receipt. And that's where you enter it right here. So anyway, so we'll go back to the desktop. Now I've got to get you a little comfortable with the sales receipt. This is the hardest part of what I'm going to teach you. So listen very carefully. This is a big deal. Now I know many people are very comfortable entering something in the make deposit window. And when I tell them that I want them to use the sales receipt, they get really upset with me. What I want you to see is that the same fields are in both places received from. That's where you put the donor, if you did a make deposit. This is where you put the income account, check number, payment method, and amount. Name of the donor, income account, check number, payment method, followed by amount. The same thing is true in the sales receipt. It just looks a little different. Name of the donor, over here, income account, check number, right there, payment method, and finally the dollar amount. So it's the same information. The next thing you'll say to me is, Greg, you are a crazy person because it looks like I have to fill out a separate one of these for each person. Whereas in the make deposit window, I can just fill out one with a bunch of different lines on it. Here's the thing. When you get to the end of this line and you got to go to the second line, you either got to move your mouse and click, or you got to press the tab button. Over here, when you get to the end of the form, you simply click Save and New. So it's the same number of clicks. I know this. I've counted. That's what kind of social life I have. I sit around and start counting clicks. But see, the benefit of this is that now when you enter a donation, not only does it appear everywhere, but get this. Because it's on its own form, when you print it, you can send it to the donor. Now, when you send it to the donor, the QuickBooks receipt looks like this. And I agree. I don't want to send that to the donor. But what you can also do is change the template. You can change the way that it looks. And I've done that so that when it comes out of the printer, it actually looks like that. Now, if I was listening to you now, I would hear gasps. Yes, what I'm suggesting is that you are able to generate the thank you letter immediately and send it out to them and then you've satisfied your requirement with the IRS. So I need to get you a little more comfortable. There's a couple of more things I need to teach about this, and then we'll be able to stop and take some questions. One thing that this sales receipt requires, that the deposit doesn't, it requires something called an item. See, in the make deposit window, we put the name of the donor here, and I told you to put the income account here. Here you put the name of the donor. There's actually no place to put an income account here, but there is a place to put an item. Now, the reason why this is is because QuickBooks wasn't really meant for nonprofits. Even the nonprofit edition wasn't really meant for religious organizations and other nonprofits. When do you get a sales receipt in your life? Forget about QuickBooks. When do you get a sales receipt? You get a sales receipt when you go to a store and buy something. Well, when you go to Walmart and you buy something and they give you a receipt, is the income account on the general ledger what's on your receipt? No. What's on the receipt are the products and services you bought or the items that you bought. So in QuickBooks, if you're going to use this form, you will need to create items, one item for each income account. So what I'm suggesting you do is you go to your chart of accounts list, and after you've kind of cleaned up the income accounts, you pick the income account. You go through each one. You're like, okay, here's one for contributions and offerings. I need to create an item that points to it. So to do that, you go to lists, you go to item list, and I've already got one here, but you just go to the bottom left hand button, you click new, make it the service type. When it comes to this, all of your items need to be the service type. Don't worry about these others. Just pick service, and you name it. And you can name it whatever you want to. I name it the same name as the account that it points to, but you don't need to do that. You can name it whatever you want. But here's where you point it to the income account, contributions and offerings. So when you do that, that says to QuickBooks, hey, QuickBooks, every time I use this item called contributions on the sales receipt, it goes, oh, you mean for it to go to the contributions and offerings income account. You got it? So that is something that you need to do. Now you also need to do it in the online edition, but the list in the online edition isn't called the item list. It's called the products and services list. And to get to it, you go to the gear, and you click products and services, and that's where that list is. But it's the same list. So there's one more little thing that I've got to teach you. So what I'm going to do is I'm going to go to that million dollar one, and I'm just going to go ahead and delete it because that's kind of ridiculous. And we're going to act like this is real life. So let me just close most of these reports here. So what I'm going to do is we're going to act like it's real life, and then we'll take some questions here. So you come to work. So this is how do you enter your income? You come to work, you go to the mailbox, you only got one check. The check is for $50, and it's a donation. What QuickBooks is wanting you to do is enter this little button here that says donations. Again, it's just a sales receipt. So we put the name of the donor here, Delphine Adams. Let's say she gave us a check, and there's the check number, and it's Contributions and Offerings, and it is $50. So as I told you, you can print this out and give it to the donor as a thank you letter like this. You can also email it to the donor. But anyway, the point is there's one little more thing you've got to worry about. I'm going to open up the chart of accounts here. There's one more little thing you've got to worry about. It has to do with this field right here, Deposit 2. What you have to do is let's say it's Tuesday, it's noon, you're holding a check for $50, you don't have anything else in your hand. You've got to decide what to put here. And what you put here is basically where you're depositing the money to. Now if you're going to deposit the money immediately, and you're not going to deposit it with any other checks, in other words you're going to go to the office with one check for $50 and a deposit ticket, then you're supposed to pick the bank account, and then you click Save and Close. And what that does is it records income going up, and it also records the deposit immediately. So the bank account goes up. However, that's not what we do with that check. Forget about QuickBooks for a second. I'm going to ask you another question, so listen carefully here. What do you guys do with a check? Say you've got a tiny check, it's on Tuesday. Forget about QuickBooks, where do you put the check? Somebody answer in the chat and then they'll tell me. Forget about QuickBooks, what are you doing in real life with the check? Anybody know? Becky- Lots of folks are chiming in, put it in my drawer, put it in the safe. John- Right, that's the answer. So you put it in the drawer, you put it in the safe. If that's what you're going to do, and then you wait until the end of the week when you've got a bunch of them, and then you go bouncing off to the bank, then you're supposed to pick undeposited funds. Now undeposited funds is an account that comes with your QuickBooks. Every file has it. Here it is. What it is, it's an asset account. It's something of value. I hope that you lock that drawer, and that's why the people have the safe. So what this is, this account is where you're going to put the money to because you're not going to the bank yet. You don't want the bank account to go up. You want this to go up. Actually, that's the representation of the money sitting in the drawer waiting to be deposited. Some people actually change the name of the account to that money in my drawer because it's the money waiting to be deposited. So watch this. Now I'm going to go ahead and save this. Now when I save it, the bank account shouldn't go up because I did not go to the bank. 247279, can you tell it's a make-believe church? Look at how much money is in here. Anyway, so 247279, I click Save and Close. It still says 247279. Good, I didn't go to the bank. But look at this. That money in the drawer has $50 in it. Now let me just tell you something. People made the mistake of putting it to the bank account. It's like, oh well, it sounds good to me. People made that mistake for years. Then what happens is QuickBooks thinks every single check was deposited separately, which means you'll have 100 deposits in QuickBooks, and you'll only have four on your bank statement, one per week. And it's going to make it really difficult to reconcile. This way it allows you kind of this intermediate place to hold all of these transactions so that you can pick and choose how they got deposited, and deposit them in a lump. So it will be easier to do the bankrupt. So let's do a couple more of these things. Let's do a cash deposit. So we'll do one for Ethan, Paytas Cash, and we'll say, actually, you know what, let's make this, yeah, no, this is fine, Contributions and Offerings, and we'll make it, I'll say 1220, wow, that's a weird number. We'll say it gave us $275 in cash. It's still a little weird, but whatever. The point is, again, we're not going to the bank, so we pick that money in the drawer. Now look here. Right now that money in the drawer is at $50, Save and Close. That money in the drawer is at $325. Let's do one more. I'm going to go to Donations. This one is a credit card. I know some people pay you online with a credit card. We can handle that. So I'm going to go to Sherry Bona, Paytas with a MasterCard. Now here they want you to type the card number in. Don't do it unless you're using QuickBooks as your merchant service. Then you can actually purchase a card swipe, or you can swipe the card right now. But we don't need to do that because if you have an outside of QuickBooks database, you don't need to do it. I mean, I'm sorry, if you have an outside of QuickBooks merchant service, you don't need to do it. So you can just kind of leave this blank. And then let's say this person gave another contribution, and we'll say that it was $100 by credit card. Now I know I don't put it in my drawer literally, but I also know there's a time that goes by between when it was charged and when it appears in the account. And it may actually be lumped with other credit card charges as well. So I'm going to go ahead and put it in my drawer, okay? So even though it's not literally in the drawer. So checking $247, $279, that money in the drawer is $325, save and close, money in the drawer $425. So that's what you do. That's the goal. And then when it's time to go to the bank, what you literally do is you open up that drawer and take the checks and cash out of the drawer. In QuickBooks, and this is why I like telling new users, just file the line over here, record deposit. You will see a list of all of the transactions that are supposed to be sitting in the drawer. Now obviously the credit card wouldn't be. So I can change the payment types to say please just show me checks and cash. So then what happens here is if there is anything on this screen that is not in your drawer, somebody's stolen something. So this is a really good internal control to be able to enter this stuff as it comes in. And then when it's time to make the deposit, then you have a listing of everything that should be there. So I'm going to check these off. I'm going to click OK. And here they are. So now I'm just going to go ahead and go to the chart of the counselor. So this is my big finish. Now if you want, you can print the deposit slips right out of QuickBooks so you don't have to fill them out. But even if you do that, you do have to order the deposit slips with the bank account and the routing number. But if you don't want to do that, what I do is I just print the deposit summary. It's an 8.5 x 11 sheet of paper that basically lists everything that should be on the slip. I give that to the bank with my deposit slip. I don't fill out any of the details. I just put the total and I give them this deposit summary and the bank takes it. So I don't have to rewrite everything. So anyway, you make sure this is the right bank account you're depositing the money to. Now I'm about to click Save to tell QuickBooks I've done a deposit. Now look at the bank account. You see how it's $247.279? I click Save and Close. It went up to $247.604. And the deposit is showing as a lump rather than the individual transaction so it will be easier to do the bank rec. Now you see that money in the drawer is now down to $100. The only thing that's left is the credit card stuff. So we've got to deposit that as well. Now we don't deposit it ourselves. It just happens. But in order to make that happen, in order to tell QuickBooks it happened we go to Record Deposit. Now there may be more than one credit card. There may be a bunch that are batched. So if you are with a merchant service you'll need to go online and figure out which one's got deposited. You can probably figure it out based on a date if you don't get too many. Click OK. But yet somehow the amount deposited wasn't $100. It was only $98.25. Or something annoying like that. That's the fee. So the credit card merchant fee many times gets subtracted from each individual deposit. And if that's the case for you then what you do is put a minus to 75 so that the amount of money that actually got deposited into this checking account, let me do the arrow again, this checking account and this is how much money hit when I looked online. So now it's all there. So I'm going to go ahead and click Save and Close. But before I do that, that money in the drawer is at $100. Checking account is $247. Click Save and Close. Now it's $247.01. That money in the drawer is back at $0. So just one little more thing because I know that this probably excited you. The fact that when you print this thing out it looks like this. This is something that you create. You create your own template and this is something I don't have time to teach you live during this webinar. However, I'll just give you a little teaser. So what you do is if you go under Formatting and Customize Data Layout, it gives you what it's going to look like. If I click the Layout Designer, this is where I created it. I put text boxes in here that had the letter and then I put an image in of my logo. I can turn it into a letter. There's a lot of flexibility that you have there. I wish I had more time. It takes about 20 or 30 minutes to walk through this. It's in the Beyond the Essentials training product. Now not only can you print it, but you can also email it. So the idea is that when you enter this donation you click Email and then it will immediately send it directly out of QuickBooks. Now if you don't like the subject line, you can change it either individually. I change it to Thanks. Or you can change it globally. That's another preference that you can change. I'll go ahead and send and I'm just going to go ahead and literally send it. Then I'll go into my email so that you can see what the donor sees. Me. Refresh. There it is. Thanks from Synergy Now. Dear Delphine Adams. Now this says your sales receipt is attached. You can change that wording as well. But I'm just going to go ahead and click it and here's what's attached. Isn't that kind of neat? And then after you send it it even has a record in QuickBooks. If I go to the Customer List where Delphine Adams is, you see Sent Email and it gives you a listing of all the emails that were sent. So I'm going to go ahead and stop now. It's 310. We only have one more topic that we need to talk about which is tracking funds which I'm really excited about. But let's stop and take some questions. I'm sure there's a slew of them. So go for it. What have we got guys? That is great. I love that we can show at least the possibilities of that. We've had a lot of folks asking, can we do this on QuickBooks Online as well with this letter creation donation receipt? No. Okay. So that is one of the big, significant differences. Yeah, and that's one of the big differences. You can't do it. What's next? We have some folks who are used to using classes. So they're asking, is there a reason that you weren't using classes? There is. And that's my segue into the next topic. Should I go for it or should I wait? Why don't we wait but we'll have you get back to that one in just a minute. We have some people that sell merchandise, so maybe tote bags or t-shirts to support their faith-based organization. How would that be categorized in here? Very good question. So if you sell merchandise, what you're going to want to do is first you're going to want to have an income account for it. So in this organization, they sell Bibles. So I had an income account called Bible Sales. And then what I did was I created an item that points to it. So I'm going to go to the item list. Here's Bible Sales. And it points to the sale of Bibles. Now what you could, if you have a lot of things that you sell, you could just have one income account called Product Sales. And then you could have five or six different items that point to it. But what's neat is I can put the price here, $25. So then when I enter it on a sales receipt, when I enter it on a sales receipt, I just type Bible Sales and look how it automatically pops up with $25. And what's really neat about it, and I didn't even show you this report, you can also look at your income. Instead of by customer, you can look at it by item. So when I click this, then basically I get to see how many Bibles I sold, $320. Isn't that kind of neat? So the other thing that I did here was Alice Meyer Memorial Offering. Sometimes you'll have churches or religious organizations, synagogues, mosques, that you'll have particular asks for particular things. And you'll want to have those segregated out. Rather than having a separate income account for each one of those, I just create these separate items for it so that I can see it on reports and track it that way. What's your next question? And we'll move back into kind of finishing. I want to really make sure we have time for funds. Yeah, well we have two separate ones that are kind of related I think. People asking what do they do with anonymous donations that are given like throws the money in the basket each week. And also what do you do with pledges? So I would create a customer called Anonymous. And any time you don't know what it is, put it to the anonymous customer. Now pledges, does QuickBooks track pledges? Yes, it does. Do I have time to teach it during this webinar? No, I don't. I will basically tell you that a pledge is a promise to pay you money in the future. So a regular business, if you go to a store and buy something and you say, you know what, pay me later, send me an invoice, that's how you would do a pledge. It's an invoice. It's a promise to pay. So you would click on this create invoices. Now it's a bit more complicated than that but unfortunately this is all I have time to teach. That is also covered. That's covered in the Essentials training product that you can get through TechSoup and I'll point that out at the end. Okay, so let's have you go ahead and segue us to the fund balance by answering that why not use classes question as you move us into that. Yes, so this is basically the most exciting thing that I wanted to teach you guys because it's rare that I get to teach this because funds are things that only religious organizations usually have to track. Even though I teach nonprofits, I only usually have a few religious organizations in there and I end up teaching it like after the class by like just showing somebody. Now I'm teaching it to 150 people. So this is really cool. This is going to blow you away. All right, and the advanced users. I think there was a woman named Donna who was a little concerned that she wasn't going to get good stuff out of here but check this out. Okay, I will preface this. You cannot get this in the online edition. All right, so here's the deal. Sorry, so here's the deal. What is a fund? When you go to a church or synagogue or a mosque, they'll pass the basket around but they have envelopes and you can check off, hey, I'm giving you $100 but I want $50 to go to the building fund and $50 to go to the choir fund. And these funds, you know you've got a fund. If somebody is asking you what the balance in the fund is at any given point. You can think of the fund as like a pot and you put money into the fund and you take money out of the fund to buy things that relate to the fund. And at any given point, they want to know the balance in the fund. Churches spend so much time trying to figure this out. It is the nightmare of all religious organizations, is dealing with these funds. And they do all kinds of weird things to track it. What some people do is they'll create a separate bank account for every single fund. And then you end up with a bunch of bank accounts. But then sometimes you go to a store, you buy a bunch of stuff at Office Depot. Some of the stuff is paid for on the building fund. Some of it is paid for out of the general fund. What do you got to do? Write them two checks? No. You write them one check and then you go back to the office and then you got to do this stupid fund transfer thing, probably in an Excel sheet, trying to figure out what the balance is. But it's a nightmare. I'm sure you guys know what I'm talking about. So let me show you. The reason why I'm not using classes for anything else is because I'm going to use them to track funds. So I'm going to go to the lists and I'm going to go to the class list. Now a class list is a feature that is available in the Plus version of the online edition. And it's available in all the versions of the desktop. But you still can't track funds in the same way on the online as you can on the desktop. And I'll point out the thing that you can't do in a minute. But anyway, so what I'm going to do, I'm going to go to the class list. And what I've done is I've created a class for each fund. So I have this parent called Restricted Funds and then I have two subs, one for building and one for clothing. And then I have a general fund. Every single one of you that is listening to me should have a general fund in your class list. And then you'll have separate funds for each one of your actual funds. Now I only have two here. You may have 17 of them but just to make it easy I only have to create a fund. It's very easy. Simply go to the bottom left hand button. You click New. I'll just click Edit. I'll just edit one of these. It's that easy. You just name it. And then I created a parent called Restricted Funds and then I have the subs underneath. You don't have to do that, but you can. Now the second thing is when you enter transactions and I'll just go to a check window. You bought yourself a little work because there's two things you've got to do. One is you have to put whatever the account is. And we'll say Building Repairs. But then also you've got to put the fund that it relates to. I don't know if you've noticed but as I've been teaching, if I didn't point something to a class it reminded me. I'm glad it does because I want you to point every single solitary transaction to a fund. This came out of the Building Fund. Now if this check was to buy more than just Building Stuff, maybe Office Supplies also and that came out of the General Fund. So you can split it now. You see? So you do this not only on your checks and on your bills and on your expenses but you also do it on the sales receipt right here. You put the fund. So if somebody gives you money and part of it goes to the Building Fund and part of it goes to the Clothing Fund, then you put that in there, all right? So as long as you do that then you can very easily get a report that shows you how you're doing on your funds. Now if you run a profit and loss by class it gives you basically the ins and outs for each one of your funds but I hear a beeping. Am I still there guys? Yep, we can still hear you. Okay, cool. Oh, I think it's just somebody is calling me. That's what's happening. All right, sorry about that. All right, but the bigger thing that you need to know is you need a report that will tell you the balance in each fund and this is what's going to blow your mind, okay? Now in order to do this I got to build a report and what I'm going to suggest and we show you how to do this in the training product beyond the essentials. We're going to build a report that will give you your fund balance. So what I mean by this is I'm just going to pull up a balance sheet and we'll see that as of today we have one bank account. You could have more. We only have one. It has $52,064.26. Now what I'm going to give you is I'm going to give you a report that you can pull up at any second that you want to that will tell you of that $52,064.26 how much belongs to each fund. Now in order to do this I got to build the report. So what I'm going to do I'm going to go to reports and this is pretty involved. So again you can watch this later. The recording is also on the training products as well as a lot of other stuff that you could learn. But what I'm going to do is I'm going to go to custom reports and I'm going to create a custom summary report. This report does not exist in the online edition. I'm going to go ahead and click it. And then I'm going to make some changes here. I'm going to basically create the report from scratch. The date range I'm going to make all dates. Now I'm only interested in knowing the balance in the funds for the bank account. So I'm going to make it cash only. And then the rows I'm going to make by class which are basically our funds. Now when you do that I'm almost done. There's one other change I got to make. What it's going to give you basically is a list of every single one of your transactions but it's going to be reported by class. The problem is that when you enter a transaction, say like that check that we entered, it affected two accounts, the bank account and the expense account. Every transaction in the world of accounting hits at least two accounts. So if I didn't do anything else and I pressed OK, my report would have basically every transaction doubled. So it really wouldn't give me what I'm looking for. So what I need to do is I need to go to the filters tab. And this is kind of wild that I'm telling you, you only have to do this once. You never have to do it again. And filters are a way of filtering out what you want. So I'm going to use the filters to basically instead of every transaction showing both sides on the report, I'm only going to show one side of the report. I'm going to show the other side, not the side that affected the bank account but the other side. So if I wrote a check and the bank account went down and so did an expense go up, I'm only going to show the expense side, not the bank account side. So it will only show once on the report. So what I'm going to do, I'm going to click on multiple accounts. And this is kind of weird because you don't put in what accounts you want filtered out. You put in what you want to keep. So I'm going to click multiple accounts. Again, I don't want the bank account. I also don't want undeposited funds because that's basically money. It just hadn't been deposited yet. I also don't want receivables or payables. I'm going to click all the other ones by checking them off. See, I'm putting in what I want to keep. I don't select payables as well. So you don't select payables, receivables, undeposited funds, or the bank accounts. Every single other account I'm just going to click and drag. You can check off. I'm going to click OK. I'm going to change the title of the report. I'm going to call it my Fund Balance Report. Fund Balance Report. I'm going to click OK. And basically what we have now is we have a report that totals to the bank balance, 52064, 52064, and it's broken out by fund. Now, what's wrong? There's one more thing we've got to do, and then we can start using this report. If you've never used classes before, when you very first look at this report since nothing has been put in a class, the whole number in the bank account is going to appear in the unclassified column. And we've got to do an entry to basically put in the opening fund balance. And then it will start tracking it going forward. Now some of you already used classes, but you might be using them for things other than funds. So this report will effectively be screwed up for you, and you'll need to do an entry to make it right, okay? By basically changing the numbers in the reports so they match the opening fund balance. Now I'm going to show you how to do this entry. What we're going to do is we're basically going to do a journal entry, and I've got it pulled up right here because I knew that I'd be short for time, so I just basically memorized it. Okay, here's my journal entry. So what I've done is I've picked an account. Doesn't matter what account it is. I've picked Miscellaneous Expenses. Honestly, it does not matter what account it is. Just don't pick the bank account. But pick one of the accounts that does show in the report, one of the accounts that I checked off, okay? Then you put in the opening balance, and you've got to pick your date. So in this example, I said, you know what? I'm going to start using QuickBooks to track funds as of July the 1st. So on June 30, I've got to figure out what the balances are, so I look at that nightmare Excel spreadsheet. And then whenever the balance is, so in the building fund, I put it as a credit for Miscellaneous to the building fund, clothing fund, credit the balance, Miscellaneous, general fund, that's the plug. It's the difference between all of my restricted funds and the money that's in the bank. So that's a plug figure. I put that there. And then the other side of it, the debit, because every transaction, every journal entry has to have an equal number of debits and credits. Don't worry about why. But what I'm going to do is I'm going to debit Miscellaneous and leave that unclassified. So what this basically does is it's debiting and crediting the exact same account. So it's not affecting our financial statements at all. The only reason why we're entering it is so that we can basically move this up here. So by debiting an account that's unclassified, no class, it basically removes this negative 52,000. And then the credits will move up here. So watch what happens. I'm going to go ahead and save this. Do you see? So now the report, and let me go back to my chart of account. Well, I'm just doing it in the balance sheet here. Okay. So now I've got a balance sheet with $52,000 in it. And I've got to report the totals 52,000, and it's organized by fund. Now the only thing that's weird, and for whatever reason, it's a glitch, I can't get it to be fixed, is this number is always going to be negative. If it's positive, it's going to be negative. If you have a negative fund balance, it's going to be positive. So I have to send it to Excel before I give it to the board. But anyway, watch how this is going to work moving forward now that I have this correct. Let's say I go to the store. I'm going to write a check. And we will write a check to Barney's Drywall Services. And we'll say it was for $2,000. And we'll say that is for repairs on the building. And it came out of the building fund. Now I want you to watch this. When I go to save this report, see right now, what you would expect to happen is the building fund will go down $2,000. And so will the bank balance. I'm going to go ahead and click Save and Close. And look what happened. The building fund went down $2,000. And so did the bank balance. And when I go to the balance sheet, let me refresh the balance sheet. This $50,000 ties to this. So the point is you can actually at any second that you want to see what the fund balance number is, and it will match the checking account provided that you pointed everything to a class. Sometimes people forget to do that. So the last thing I would suggest doing is to memorize it. So I'm going to click Memorize, and click OK. So now the report is memorized. So I'm going to go over here to Reports. I'm going to click Memorize Reports. And whenever I want to pop it up, Fund Balance Report, there it is. Now, the seminar is supposed to end in one minute. So what I want to do is I want to, if it's okay with you Becky, and we usually do this, I'm going to go ahead and just finish this out real quick. Take me two or three minutes and then I'll stay on the line and I'll stay for about 5-10 minutes to answer questions that people have. So what I'm going to do is I'm going to go ahead and share my screen or unshare my screen. Because what I want to do is I want to point out, actually before I do that, is two little things that we're going to give you here. If you are liking this and you want to really have the full thing you want to learn from me, then we've got two possibilities. We have Tech Support Agreements and we have Products. The Products, if you click on Nonprofit Product, we have one called Beyond the Essentials. The Essentials product you can get at TechSoup, the Beyond the Essentials product you get here. And this gives you the funds thing that I talked about as well as creating a letter for a donor receipt and how to set up the accounts. It has pretty much everything we covered and a whole heck of a lot more. This is $229 normally. We're going to give it to you for $129 with the code that we're going to give you in a second. Some people don't want to learn that way. They just want to talk to me. And you can for an entire year, and I know this sounds too good to be true, but it really works this way. $299 is what we normally charge for a whole year of Tech Support. We're going to charge you $129. I just got to give you the little code so that when you add it to the cart, you'll be able to put in a code for it. So here are the codes right here. So to get the Beyond the Essentials product, it's $129. The code is TSB129, All Caps. And then if you rather do Tech Support, you can do both. Then it's $129 TS. You can call me or Jenny for a year. We can even dial into your software. This gives you the ability to get some more, get better information. So I want you to fill out this last poll right here. Do you want to be added to our newsletter? We have a little e-mail newsletter that comes out once a month. It's called Quick Tips. It's not painful. All we do is give you a little tip on making life for yourself easier in QuickBooks and just kind of letting you know where we are. If you just hate that, then say no. But if you're cool with it, say yes. And we will give you the little e-newsletter. And it's just once a month. You're not going to be bombarded with stuff. I promise you. So let me go ahead and have Becky finish it out here. Stay on the line, and I'll be glad to answer some more questions in a couple of minutes. Go ahead, Becky. Great. Thanks so much, Greg. And I know we are going over time here for just a moment, but I want to make sure everyone knows where they can access the donated products, some of which Greg has already mentioned as well. The QuickBooks Premier One User and Three User Licenses, QuickBooks for Mac, and QuickBooks Online Subscription, which Greg said doesn't do all of the things that he covered today. So he recommends really relying on the QuickBooks Premier version which is very similar to the QuickBooks for Mac. You can find that by going to TechSoup.org, selecting by donor or provider, and clicking into it, or just going TechSoup.org slash into it. You can read more about the products online and see the admin fees. These are donated. And then you can also get QuickBooks Made Easy Essentials training through TechSoup. And let me just jump back here real quickly. I don't have it circled on here, but it's QuickBooks Made Easy in the list of donor providers, so you can get that initial training program that Greg has created for our community. And then that coupon code that we will send out in the follow-up email as well is for Beyond the Essentials. So that's the second kind of more stuff beyond just setup that they include in the Beyond the Essentials. I also just want to show some additional resources here that we link to the product donations, articles, and a lot of different archived webinars depending on the version you may be using. If you're using an older version, we have trainings that are available for you, but these are not specific to churches and religious organizations. They are focused on 501c3 nonprofits. So keep that in mind that it is a different process for religious organizations and churches, which Greg covered today. We do have a lot more questions in the queue, but we are really at time, so I'll just ask a couple of them. What if you are a nonprofit that has part of your organization is for-profit? So maybe you have a church, but you also have a for-profit program that's associated with it. Would you have those set up as separate companies, or would you have those, and is the recommendation the same for the tool that you would want to use? So if you have a church and many do that have a for-profit arm, as long as it's under the church's federal identification number and it doesn't have to file a separate tax return, do it in one QuickBooks file and the nonprofit QuickBooks file is fine even for for-profit activities. If however you find out that you actually have to file a corporate tax return for the for-profit piece, the 1120 and the 1120 ask something like that rather than the 990, then you need to have a separate data file. Next question. Okay, sorry, I was just unmuting there. Let's see, we have just questions asking in general. How does this differ from how the setup would be if you are on a Mac? We have quite a few Mac users. If you're on the Mac, the setup is the same. The class feature is available in the Mac. There's not really anything unique that I would say about the Macintosh. Everything is pretty much the same. Next question. Great. If you are just starting to use the nonprofit edition, do you just start with whatever date you start with, or do you recommend that people start now and move forward with it, or do you recommend that they go backwards to change the setup? Well, okay, so typically you'd want to have an entire year's worth of activity in the same place. Now I recognize that here we are in October, so that's like almost a whole year of activity to enter. So if you've got another accounting package, or you're keeping it on paper or something, I mean you could conceivably start in the middle of the year, but typically I would want you to start at the beginning of the year, either that, or yeah, I would want you to start at the beginning of the year. So if we're close enough to the end of the year where I would say go ahead and get QuickBooks, start getting everything set up, get used to it, and then I would start January 1 of the next year. Now if it's not very many transactions, then I would go ahead and re-enter the stuff for the first few months. By the end you'll have a good working knowledge of how to move it going forward. But if you have some of it on a spreadsheet and Excel and the rest of it in QuickBooks, I mean you really can't get a year-to-date report, can you? So next question. Right, good point. And keep in mind that QuickBooks are into it, generally releases their newer version in the fall. So we are expecting that there will be a 2017 version of QuickBooks Premier coming out in the next few weeks potentially. So if you're hemming and hawing and you're going to wait until the new year to set it up, anyway the new calendar year, you may want to just wait until the newest version is out so you can use that one. I am going to try and wrap this up here because I do have a couple more slides to go through as we wrap up. But we would love to hear from you what one thing you learned today that you're going to take back and try to implement and what things have been valuable to you. We also would hope that you'll share this with your colleagues and friends who may benefit from it. And feel free to rewatch it and share it among your community. We'd also ask that you take time to complete our post-event survey to let us know how we can improve this. As we mentioned earlier this was the first time we presented it on Religious Org. Yeah, I want to echo that. I'm very curious to see what you guys felt about that and if you liked it, did it move too fast? Did it move too slowly? Was there a topic you didn't care about? Was there something you needed more information on? I do think that we can make a day out of this to be honest with you, but for 90 minutes hopefully you got a good chunk of what you were looking for. Great. Yeah, I agree. So we really do value that feedback. We also would like to invite you to join us for upcoming events and trainings. We have created our new Learning Management System platform where we are offering full asynchronous trainings, meaning you can go in and do them 24-7 anytime you'd like on different topics. And our first course is in there on helping train your staff on technology. We are adding new courses coming soon. We have one coming up on tech planning. We'll have web design, all kinds of different topics. We will have accounting down the road too. So check out techsoup.course.pc to learn more about that and get those free courses available to you. And then you can see we have a lot of other events coming up, a lot on different cloud offerings including Microsoft Azure. If you're joining from a library, which I know many of you probably are not today, but we'll do stuff on broadband. We'll talk about showing your impact with better data visualization with Tableau. We'll talk about tech planning and Microsoft's cloud services. And that's just this month. So we have a lot coming up and more in November. So we hope you'll join us for those. Thank you so much, Greg. I know that people are still asking questions in the background and I'm sorry we aren't able to get to all of them, but we really do value your time. And I'm going to put up on screen one more time those coupon codes so people know where to go if they want to use. I forgot to tell you, look, they're only available for 48 hours. So it ends because these prices are so much lower than everybody else than what we usually charge. Then they end Saturday night at midnight, Pacific Standard Time. So you've got two days to either get beyond the essentials or the tech support and those are the codes. You just go to QuickBooksMadeEasy.com. Yep, so do that there. And then when you're asked to enter in, when you're processing the payment and whatnot, you enter that code in and you should see that apply, that discount on one of those final screens. If you have any trouble, we recommend reaching out to support at QuickBooksMadeEasy.com with using those coupon codes. Thank you so much, Greg. Really it's always so valuable to have your expertise shared here. Thank you to Jennifer and David on the back end and Kevin for their help. And thank you to ReadyTalk for providing the use of the platform. And we would invite you to please share that feedback in the post-event survey so we can continue to improve our webinar programming. Thank you all so much and have a great day. Bye-bye. Thank you. Bye-bye.