 Welcome everyone for QuickBooks Desktop for Existing Non-Profit Users. Thank you all for joining us for today's TechSoup webinar. Before we get started we want to make sure everyone is comfortable using ReadyTalk, the webinar platform we are using today. So go ahead and chat in at any time using the box on the lower left side of your screen if you have any questions or need any technical assistance. You don't need to raise your hand. We are here to answer your questions anytime you chat them in or to flag them for our presenters. We will do our best to keep up with them. We also keep all of our lines muted so that we can get a clear recording to refer to later. If you lose your Internet connection, please click that green Join Meeting button in your confirmation or reminder email that you would have received when registering. If you lose your phone connection for those of you who are dialed in, you can dial back in at any time. Susan has just chatted that number out, but most of you are going to be hearing the audio play through your computer speakers. So if you have any issues with that audio stream or if you are hearing an echo on the line, you may be logged in more than once. If the slides or the screen sharing falls out of sync with the audio, feel free to dial in with that alternate phone number. We are recording today's webinar and you will be able to find it along with upcoming webinars and past webinar archives on the TechSoup website at techsoup.org slash community slash events dash webinars. You will also be able to find it on our YouTube channel at TechSoup Video. Within a few days you will get a follow-up email from me that includes the full presentation, the recording, and any links that we discussed today. You can tweet with us at TechSoup or with the hashtag TSWebinars. My name is Becky Wiegand and I'm the Webinar Program Manager here at TechSoup and I'm happy to be your host for today's event. The expert that will be joining us today whom many of you may already be familiar with from attending prior events is Greg Bosson who is a practicing CPA and Advanced Certified QuickBooks Pro Advisor with a full service accounting firm in Atlanta, Georgia. He is the founder of QuickBooks Made Easy and CEO of QuickBooks Made Easy, one of TechSoup's partners. He offers one of his products through TechSoup's catalog to nonprofits. Since 2000 he has traveled around the country teaching QuickBooks seminars in person and also through webinars like today's. Those are designed specifically for the nonprofit sector, so we are really glad to have him on the line. You will see in the chat a variety of people who will be here to help as much as they are able during this next 90 minutes of today's webinar. We will have Deborah Cillsheimer from Behind the Scenes Financial Services, Megan Tarno from Mobius Group. They are both QuickBooks Pro Advisors that will be on hand to help answer your questions. David Webb and Katie Ledbetter-Burch from QuickBooks Made Easy, and Susan Hope Bard from TechSoup. We are joining you from our TechSoup headquarters here in San Francisco and we have Greg and David over in Atlanta. Go ahead and chat in to let us know from where you are joining us today. If you are joining us from inside the U.S., the donation and discount programs we will talk about a little bit later will be available to you in the United States. If you are joining us from outside the United States we recommend checking out TechSoup.global and choosing your country from the drop-down so that you can see what is available to your organization wherever you are in the world. Right now we have 630 people on the line with that number continuing to climb. So keep in mind that while we will do our best to answer as many questions as we can today, it is only 90 minutes and we are not going to be able to get into the nitty-gritty details of every question about your scenario with QuickBooks. So we will do our best but we can't promise to answer everything in this 90 minutes. Looking at our agenda for today, we will do a quick review of where to get QuickBooks and QuickBooks Made Easy. We will talk about the best practices for setting up your lists. And then Greg is going to show us live on screen how to enter your income and expenses. He will try to quickly cover auto-allocating expenses, coming up with the reports for your board, tracking restricted grants, inputting in-kind gifts, and we will do our best to answer some of your questions. This is 90 minutes so we will do our best to cover all of this but it is going to be a lot. We will move quickly and don't worry you will get the recording so if there is anything you miss you will be able to watch it again later. So before we get started with Greg's presentation, the Intuit Donation Program, Intuit is a company that makes QuickBooks and they make the following available for donation to eligible nonprofits and public libraries with an annual operating budget of $10 million or less that are not working in political, legislative, or advocacy areas of the sector. So keep that in mind. Most of you hopefully have already begun using QuickBooks and our existing users as is the title of today's event. If you are brand new to QuickBooks we really recommend checking out the webinar that Greg did for us a couple of weeks ago and we will include that in the follow-up email as well. But before we get started with that I would like to have Greg go ahead and introduce himself and QuickBooks Made Easy and then we will get into this live demo. Okay, cool. Hey everybody. I am Greg. Say hello back. Say hi if you heard me. I want to make sure. It looks like there are a few people that have lost sound so you might want to, oh good, most people haven't. We've got 670 people on the line by the way. And anyway, I am Greg Bosson. How's it going? I'm an Advanced QuickBooks Pro Advisor. I teach QuickBooks all over the country. I own an accounting firm here in Atlanta, Georgia where I'm from. And then I also teach people how to use QuickBooks. Specifically I teach nonprofits. And I do this in 3 ways. I have training products that we are going to actually offer you one of our training products. The training products are down here, the little picture down here on the bottom right. They are DVDs with handbooks. One of them, the basic one is at the TechSoup website for sale. And then we are going to offer you the other one which is called The Beyond The Essentials at a pretty big discount. We also do tech support which we are going to offer that to you in case you want to continue to get a help with QuickBooks after the webinar. And then we do live seminars across the country. This is actually where we are going next year. There will be a few more but this is most of them. As you can see we are still booking out the regular times. We do a lot of stuff in the fall. But that's what we have booked so far. And you can go to QuickBooksMadeEasy.com to find out where we are and sign up for a live seminar. But first you've got to figure out whether or not I'm any good, right? So let's see. I'm going to go over here. So what is QuickBooks for is something I always like to start with. Just in case you don't understand it, I think most of you do. It's a financial accounting package. It's a software package that is for accounting. But it will also track your receivables. It will track your payables. It will do your payroll. And it will process credit cards. Now the payroll and the credit card thing got to pay into it an extra fee for that. But just so that you know it does all of those things. And it will also function as a good light donor database. You can get donor reports. You can get year-end donor letters out of it. And I'm actually going to show you how to do that a little bit today when we get into how to enter your income. But before we go any further, let's see. I think we have a poll here. And Becky, is the poll showing? Becky- Yep, it's showing up. So go ahead and click one of those radio buttons on the screen that most applies to you. Were you in the webinar two weeks ago, and you're coming back today? Did you only sign up for today's because you aren't a beginner? You didn't need that first new user webinar that we did just a couple weeks ago. Maybe you were here last time, but you were medicated and you don't remember anything. Or something else, comment in the chat if you had a different experience than these. And this is just to help us get an idea of who already has gone through some of Greg's training here recently. And if you haven't, and you're a new user, we do really recommend looking at that webinar from two weeks ago. We'll include that in the follow-up email because today's is not for brand new beginners. This is really geared toward people who are existing users and already have their nonprofit account set up in QuickBooks. So let's go ahead and show the results and we can move on to the next question. So 73% signed up for today's only, and 23% came a couple weeks ago. So hopefully the folks who are here are here because they are existing users and they are already using a QuickBooks product. So go ahead and let us know which product you are currently using because this also helps inform us if you are using QuickBooks Online or QuickBooks for Mac. We did try to make it clear in the description that we will be showing today on QuickBooks Premier which is the desktop installed version. So it will look different to you if you are using QuickBooks Online or QuickBooks for Mac. Some of the details may be different, but some of the overall principles Greg covers may be useful. So you can choose to stick around, but just know it's not going to be, we won't be spending a lot of time trying to show what QuickBooks Online or any of the other products look like today. So it looks like the majority of the people on our QuickBooks Premier or QuickBooks Pro users which is good and then the small chunk are not using QuickBooks yet. So maybe they just want to see what it looks like. I think that's all we have. Yep, let's go ahead and move forward with the presentation and get it started. Yes, so the second one is what most of you use, QuickBooks Premier Non-profit Edition. This is a desktop program. And this is the one that you can get through TechSoup at $50. And that's the one that you should probably get. So if you are not using QuickBooks, I have a few of you. I think there are 17 of you that are, that's probably where you want to go to get it. And QuickBooks Pro and QuickBooks Premier Non-profit Edition are basically the same program. Enterprise Solutions, that's a program for very large nonprofits, but it's basically the same program as well. So the screens are going to look identical. So I think that's all I need to say about that. And the next thing that I want to cover is, let me see here. All right, there we go. All right, so as Becky was saying, we did a class a couple of weeks ago about how to set up lists. And it looks like a number of you weren't here last week, which is fine, two weeks ago. But I do want to tell you just to kind of get you oriented and I'll just say it this way. In QuickBooks there's a couple of different categories of stuff. There's lists, and then there's transactions. And if you want to get good reports out of the software, which is why you're all here, a lot of the reason why people can't get good reports, even if you've been using QuickBooks a while, is because you haven't set up the list correctly. So this is actually what we went over a couple of weeks ago, but I just kind of wanted to put it on the screen here. And the two that I really want to focus on are accounts and classes. And I think what I'm going to do is I'm going to go ahead and share my screen so that I can give you kind of a good idea of how you should set up your books real quickly here. We already covered this a couple of weeks ago. So what you should be seeing now is my QuickBooks desktop. Can everybody see that? I know I can't hear you, but Becky, is that what I'm sharing right now? Becky Yeah, it looks good. I'm seeing it on my screen without any problems. All right, awesome. So the deal is the first two, the accounts and classes. Now, I'm kind of assuming you already know this because you weren't here a couple of weeks ago, but in case you haven't, let me just go ahead and say it. QuickBooks has two lists that are very important. One of them is the chart of accounts list, and the other one is the class list. And it's very important that these two lists are set up correctly. And if they aren't set up correctly, you're not going to get good reports. Now this list right here, which is the class list, this is where you want to put your programs, and then you also want to put one for admin and another one for fundraising. You see, nonprofits have to break their expenses up into program, admin, and fundraising. And QuickBooks uses the class list, or they suggest you use the class list to track this. So everybody who is listening to me should have at least three classes, one for admin, one for fundraising, and then one for each one of your programs. In this organization called Synergy Now, we have three programs, the Guidance Center, Synergy Conference, and the Aware Campaign. So we have a total of five classes, but you'll at least have three. Now the benefit of this is that when you enter expenses and income, and I'm going to go ahead and open up a check here, and I realize that some of your screens might be moving a little slow, so I'm going to be kind of patient. Let me know if I'm moving too fast. When you enter an expense, here's where you put the account that it relates to. And your account should be what I call the natural categories. You should not be putting the names of your programs in the chart of a counselor. These should be natural categories, salaries, health insurance, rent. We should all pretty much have the same expense categories. And I say natural because that's the way people think of expenses. If you were just to run out in the street and ask somebody to name some expenses, this is the kind of stuff they'd come up with. I mean, I guess it depends upon what street you're running down, but you get the idea. So I'm going to click Postage Here. And then over here you can put what program it relates to. And by the way, if you're a theater or something, these programs might be your shows for the year, the five shows that you do each year. And we enter expenses and point them to classes. We also point our incomes to classes, program, admin, or fundraising. And then the benefit is that we can get this really neat report. And I'm going to just open up the report here. And what you get to see when you run a profit and loss by class is a beautiful report that gives you a P&L, but it has columns for each one of your programs with an additional two for admin and fundraising. And this allows you to see, first of all, which programs are paying for themselves. The Go Green Guidance Centers make $24,000. The Synergy Conference is making $22,000. The Aware Campaign is losing money. So it tells you how your programs are doing because you put all the expenses related to a program and all the income related to a program to that program. But then it also tells you how much of your expenses are program, admin, and fundraising. Most nonprofits, you want to keep your program expenses at least 75% of the total, of the total expenses. Most funders are looking for that kind of as a benchmark. So one of the things we're actually going to teach today, which is something, again I'm assuming you've been using QuickBooks already because this was for existing users. But as I just pointed out before, here we'll do postage and you point it to a class. But you can, some expenses don't go specifically for an individual program. Maybe they should be split between classes. And we're going to show you a little tool that's going to help you learn how to actually get QuickBooks to auto-allocate expenses to different programs based on percentages that you put in. It's pretty an advanced technique. It's in or beyond the Essentials training product. But I'm going to teach it for you live here in a little bit. So that's basically the setup. And I could spend 2 hours on it, but I just kind of wanted to get you the overall lay of the land. One thing I do want to point out is every single expense should be pointed to a class. And every single piece of income should be pointed to a class as well. If you'll notice all of the income that I have pointed to the Guidance Center, that's income that was related to the Guidance Center. Either it was a grant that was for the Guidance Center or it's membership dues to get into the Guidance Center, maybe workshop fees, whatever. Anything that you get in income that isn't related to a program at all, you want to put in the fundraising class. Don't put it in the programs class. Even though you might be using unrestricted revenues like unrestricted donations to pay for a program that's costing you money, you still want to have it in fundraising so you can really see which programs are carrying their own load. And as you can see, I'm going to scroll down here to the bottom, that the aware campaign is losing money. So that's something you can take to a funder and say, hey, I need to raise the money for this, even though you know that the unrestricted donations are carrying this load. So I'm going to stop. I'm going to take a couple of quick questions and then we're going to move on to how to enter income. So Becky, why don't you give us a question or two that everybody can listen to? Becky Sure. We have some people asking about what's the difference between writing checks in the vendor enter bills section versus banking write checks section? So I'm going to tell you the difference between entering bills and writing a check today. So we'll get into that. First we're going to do income, then we're going to do expenses, and I'll teach you that a little bit. What else? We'll do one more. Becky Somebody was asking about where to find the class list. Is it under list or is it somewhere else? Good question. So if you don't know where the class list is, it's going to be under lists class list. Now if when you go here this list isn't here, you'll need to turn it on. So to turn it on you'll go to the Edit menu, and you're going to click on Preferences, and I'm trying to go kind of slow. Preferences are little features you can turn on or off in the program. And there are so many of them and they're broken up into these different categories. I'm looking at the Desktop View Preferences. If I click on Checking, I'll see those preferences. But to turn on the class list we go to the Accounting category. You see there's two tabs up here. There's the My Preferences and the Company Preferences. You click on the Company Preferences. And then this little box here that says Use Class Tracking, check this box. And then click OK. And when you do that, when you go to the list, it'll appear. So I think that's it for that. You know we just dove right in Becky. Usually I like to babble around and play, but we just dove right in. Hopefully, is that okay with everybody? Is everybody cool? I want to make sure everybody is okay that we are in it. We're answering a lot of questions on the back end thanks to a couple of folks who are turning away. So let's go ahead and move forward. I know there's a lot of questions in the Q and you don't need to raise your hand. Just go ahead and chat to us when you've got questions. One more thing about the questions I will say is some of you get very detailed with your questions. And just to understand we've got, I think there's over 700 people on the call now. So if your question is not kind of general, it's a detailed specific question for you, we may not be able to get to it during the 90 minutes. But we can talk about how you can get all your questions answered later on. So let's talk about how to enter income. Now if you haven't been listening to me now because you've been playing with the chat, you need to stop and listen to me because this is really important and plus I'm just kind of an insecure person in general. So there are two ways to enter income in QuickBooks. One way is called the lump by category method. And I'm not going to go in the slides, I'm just going to stick in the software. This one is called the lump by category method, and you will use it if you are using an outside of QuickBooks database to track your members, your donors, or your students. So go ahead and chat the name of a donor base. I know most of you aren't, but if you're using a donor base outside of QuickBooks, go ahead and chat it. And I'll have Becky read to me because I'm always kind of curious to see what people are using. Some common ones are GiftWorks, DonorPerfect, eTapestry, Salesforce. What do we got there, Becky? Yep, lots of the ones you've mentioned. DonorPerfect, Bloomerang, eTapestry, NeonCRM, Salesforce. So some folks are using FullOnCRM, GivingFire, CDM, ServantKeeper. So that's one specifically for a church community. Lots of different options, Shepard. That's another one for the church community. I love the ServantKeeper one. That makes me laugh every time I hear it. All right, so Record Deposits. So those of you that are with an outside QuickBooks database, I am going to make an assumption. And that is that that software doesn't import or sync into QuickBooks, so you've got to enter it manually. Now I know that some of them purport to do that. Very few of them actually do it well. Neon is one that possibly does it well. But very few people use the import because one of the things that I've pointed out to you, it's very important that it import class. And a lot of these outside of QuickBooks databases don't do that. So most people that use an outside of QuickBooks database, they are tracking their invoices in there. But you've got to get the information into QuickBooks, so how do you do that? You use the lump by category method. So listen up so you don't get confused. I want everybody listening to me. What I am about to show you is only for those of you that are using an outside of QuickBooks database, and it doesn't import. But you've got to enter it in somehow. So it's called the lump by category method. I am going to click the record deposit window when it's time to go to the bank because I am doing any invoicing in the other software packets. So I am telling QuickBooks when I go to the bank, or when a deposit hits the bank from the credit card. So I am going to click record deposit, and I am going to enter my deposits, but I am going to enter them lumped by category. Now when I say lumped by category, I mean lumped by income account. So you will go here and you will say, we have a few checks for membership dues, four of them, but I am not going to enter all four of them because they are already in the other database. And if I enter them over again here, I am double working. So I am going to lump it by category. The total of the checks was $425. I still have to point it to a class. Every transaction has to be pointed to a class. We will say these membership dues are memberships to get into the Guidance Center at a cheaper price. So we will put it there. Then let's say that we have a foundation grant. And that grant is $10,000. And we will say that it was for the Synergy Conference. So we will put it there. And then let's say we have some individual contributions. And we will say these individual contributions didn't go to a program. They are unrestricted. The total of them is $1,295. You make sure this equals the amount that is deposited in the bank. What class should I point this to? I am testing you. I told you a minute ago. Where do I put unrestricted contributions? What class should I point them to? Becky? Fundraising. There you go. Fundraising is the answer. Again, you don't want to point it to a program if it is unrestricted. That way when you look at a program P&L, you can see whether the program is paying for itself. So put all the unrestricted stuff to fundraising. Now this is called the lump by category method. Now the next method is what most of you are going to use. And this method is called the individual method. And the individual method is what you want to use if you want to use QuickBooks as a donor, member, or student database. So I am going to stop here for a second. This is so important. If you want to get a thank you letter out of QuickBooks, if you want to get good donation reports out of QuickBooks, can you? Absolutely. Now not so much with the online edition, but fortunately you guys at the desktop, you will be able to get a good thank you letter out of QuickBooks. And you will be able to get good donor reports. But what that means is you need to understand the individual method for entering income, which is very different. Now some people say, well I already know how to enter my individual items individually. It is not hard Greg. I put the name of the donor here. I put individual contributions here. This was a check. What is hard about this Greg? This is what a lot of people do when they are new to QuickBooks. Oh I heard you Greg. It is unrestricted. I will put it to fundraising. And then we will make it $1 million. And then you go on to your next check. This is wrong. This is wrong. I want to make sure you understand this. Why? Well if you want QuickBooks to give you a thank you letter, you may not get one if you entered it this way. And the second thing is you also aren't getting any good donor reports. Let me show you. QuickBooks has all these really neat donor reports. I am going to show one to you right now. It is called a Sales by Customer Summary Report. And I am going to give you basically a list of in this case my donors and how much they gave me. I am going to make it all dates. And then I am going to make the columns be by year. And when you do that what you end up with is for each person's name, you end up with their history over the years of what they have donated. Now I am going to zoom in now so don't get scared just so you can see it. But we can see that this, let me see, who is this? This donor, Chad and Marie Brown, I am trying to move the mouse really slow. They gave $1,900 and then $1,500. They gave every year they didn't give in this year. By the way, on the phone today in this webinar it is 2020. Welcome to 2020. So anyway, so we have nothing that this person gave. So see how cool this report is. Maybe this person needs to get a call. I don't even think you can get these reports very easily out of these other donor databases, but you can get them in QuickBooks provided you enter things correctly. Look at Parker and Faith Ashford. They are total donations, $12,315. Watch what happens when I save this deposit. This is the wrong way. I am going to go ahead and save it. I am going to refresh the report and it still doesn't have the transaction in here. The reason why is because you entered it in the wrong place. QuickBooks has all these really neat reports to use as a donor database. You are not getting any of them if you entered it in the wrong place, which is what we just did. So I am going to pull up the Make Deposit window and I am going to go back one. I will click Previous and I am going to go ahead and delete this because this is wrong. So to delete a transaction you just go to Edit, Delete. Are you sure? Yes. So that is the wrong way. Now I am going to show you the right way. Now the right way to enter, well you know what? There are 700 people on the call. Somebody knows the right way. What screen should I enter donations on using the individual method? Tell Becky and Becky will tell me. Somebody knows. I have some folks, lots of people saying sales receipts. Somebody else is saying funds. It is the sales receipt. There isn't really a button here called funds. But if you look on your homepage, if you have QuickBooks Pro or Enterprise Solutions your button is going to say sales receipt. If you have Premier Non-Profit, the one you get from TechSoup, the button is going to say donation. But do not think that you need to get Pro. I mean to get Premier Non-Profit. Those of you that Pro, you just click here. It is going to say sales receipt. It is a sales receipt. This is what it says. It is a sales receipt. So sales receipt and donation are the exact same thing. So this is the right way to enter it. I am going to enter it the right way now. Parker and Faith Ashford entered a check. I know the screen looks a little different. It takes a little getting used to, but it is really honestly the same pieces of information. And it is fundraising and it is a million dollars. Now the thing is that once you enter it here then it will appear on the reports. So let me go back to that little Sales by Customer report. So if you look at Parker and Faith Ashford, the total is $12,315. I am going to go ahead and save this sales receipt. And now I am going to go back over to the report. And if you notice now, let me zoom in in case you cannot see. Well, that is not good. I will stay out. Sorry, I probably got you dizzy. So now Parker has over a million dollars in there. And actually if you double click it will give you a list of all the transactions. And you can print these things out and send them to the donor at the end of the year. So they have a list of their donations. But I will give you one better than that. One of the other advantages of using the sales receipt is that you can actually email or print and mail a thank you letter because you entered it on a sales receipt. Now let me show you. If you go with the custom sales receipt which is the one that QuickBooks gives us, that is kind of the normal one, it looks like the form that you can print looks like this, which doesn't have nothing to do with a thank you letter. But what you can do is you can change the template and you can create your own templates. And I have created one for a thank you letter. I actually walk you through how to do this in the training products. But I am going to go ahead and show you what this looks like. Print preview. And when you print it, it looks like that. And then you can email it directly to the donor or you can print it and mail it. You can email directly out of QuickBooks. You have been able to do it for years. So understand what happens. You enter this stuff here and instead of giving it to somebody else to create the thank you letter, when you press print or email, it comes out like that. And you can create these letters all on your own. I made up this letter, this wording myself if you are trying to read the letter. So anyway, it's very, very cool. But in order to do this, I am going to go ahead and close this, you do need to enter things on the little donor receipt. Now you may say to yourself, well Greg, I refuse to do that because now I have to enter a separate thing, a separate receipt for each donation. Well, let me tell you something. If you are sitting there entering a separate line for each deposit, when you get to the end of this line, you have to click the mouse or tab or something to get to the second line to enter the next donation or receipt, whatever it is. Well, when you get to the end of this one, you just simply click Save and New to get to the next place. So it's the same number of clicks. Yes, it's multiple forms, but it's the same number of clicks. I know I've counted. Okay, just to kind of hammer at home, if you do a deposit, name of the donor here, Income Account, Check Number, Payment Method, Class, and Amount, that's the same fields that are here. They are just in a different location. Name of the donor, Income Account down here, Check Number, Payment Method, Class, and Amount. It's the same information. The only thing that's different is when I'm telling you to put the name of the donor here, well, that's easy. That just comes from the customer list. You type the Check Number. This comes from the class list. This is a dollar amount you type. You push the Check Number. The only thing, the payment method, the only thing that's weird is I told you to put down here under Item. I told you to put the Income Account that it goes to. Well, that's not really what's here. What's here is something called items. Now I could spend two hours teaching you what an item is. I'm not going to do that. You're existing users, I'm assuming you might know, but I bet a lot of you don't. For you, items equal Income Accounts. Items equal Income Accounts. And they're used on the sales receipt form. So what you have to do is if you're going to use this form because you want to use QuickBooks as a donor database, you've got to create items, one item for each one of your Income Accounts. So what you'll do is you'll go to the chart of accounts list. You'll look over your Income Accounts. There they are. There's like nine of them here. You shouldn't have too many to be honest with you. If you do, you probably want to look over the webinar from a couple of weeks ago. Anyway, here's individual contributions, and you say, okay, I know I'm going to use that Income Account. Let me create an item that points to it. To create an item that points to it, you go to Lists, you go to Item List, you go to the bottom left hand button, you click New. It'll ask you what type of item it should be. The default is Service. That is fine. Just leave it there. Name the item. Now you can name it whatever you want to name it. I like to name it the same name as the Income Account that it points to, Individual Contributions. Now there's a place to put a default description and rate, but that would only make sense if the item is the same price every time, which may be true for some of you. If you have memberships that cost $65, you could put that rate in there. But contributions are of all different amounts. But here's where you point it to an Income Account, right there. And by doing that, QuickBooks says, okay, whenever I use this item on a salesor's seat, or a donationer's seat, it's going to go, oh, you want it to go to the Individual Contributions Income Account. And it's because it's pointed to it, not because it's the same name, but because it's pointed to it. Does that make sense to you guys? Yes, Greg, that makes sense. It's so weird. There's like 800 people listening to me, but yet I can't hear any of you. It's really kind of scary. All right, so I already have one of these created, so I'll just leave it there. So you might be saying to yourself at this point, Greg, this is really stupid. Why can't I just put the Income Account here like I do in the Make Deposit window? Why do I have to create an item that points to an Income Account? The reason why is because QuickBooks was not meant for nonprofits. It really wasn't. Even the nonprofit edition really wasn't meant for nonprofits. Think about it, this is really a sales receipt. It really is. So forget about QuickBooks. Chat me up. Tell Becky, when do you get a sales receipt in your life? Forget about QuickBooks, forget about work, forget about everything. When do you get a sales receipt? When you do what? When you buy something at a store. When you make a purchase at a store. Now when you go to a store and you buy something and they give you a receipt, is it going to have the Income Account for the company's general ledger on your receipt? No. It's going to have the items that you bought. So that's why QuickBooks puts the items here because they were thinking that you're going to print this out and give it to the person. And we might as a thank you letter, but not as a receipt at a store. So that's why they have items. And you can have many different items that point to the same Income Account. So it's actually pretty cool. In the training we go into more depth in this, but you can have multiple membership items that point to the same Income Account. That's pretty cool. So that you can really get more granular in terms of your type of income. There's actually a real report here. I'll show you a Sales by Items Summary Report. This lists your income by item rather than by Income Account. So without cluttering up your Income Accounts with a bunch of different types of income, you can just have a few there and a bunch of items that point to it. And it also counts quantities. I have, let's see, six memberships so far. That's not very many. I've received 1096 individual contributions since I opened the organization. The average contribution is $1,020. That's pretty good. So this is really cool. Items are really powerful. Now the only other thing I need to talk to you about this is I'm going to delete this one because who gets a million dollars? I mean if you get $1 million donation you probably aren't on this call. You're probably doing something else. But anyway, so let's just do this like it's real life. So this is what I want you to do. This is what QuickBooks wants you to do. You go to the office, you open up the mail, there's a check. They want you to enter the check right now in this little sales receipt. It's a check. Here's the check number. It could have been a credit card that you received online but it was a check. Either way you enter it. And we'll point it to individual contributions. It's unrestricted. It goes to fundraising and we'll say it was $25. Now the only other thing that I've got to teach you and then we'll be done with entering income is this window right up here that says Deposit 2 and then it's asking you to put what bank account it goes to. I know a number of you have been asking what bank account does this go to. Well, here's where you tell it. Here's the thing though. What do you do with that check for $25? If you are really hard up for cash and you have nothing else to deposit but you really need the money and you're going to bounce it, you might go running to the bank right then with that check for $25. And if that's what you're going to do, pick the checking account and then click Save and Close. And it will actually record the income but it will also increase your checking account so you actually never have to go to the make deposit window. People do this if they get money from the federal government where the money is automatically just e-drafted into your bank account. It just appears as an electronic funds transfer then they just record it and pick the bank account. But that's not what we do with our check for $25. What do we do with that check? Forget about QuickBooks. Tell Becky where we put that check. In real life, not in QuickBooks. So it's your thing in a drawer, in your desk. Exactly, in the desk. And so what you're supposed to do in that case is pick this weird account that all of us have called Undeposited Funds. Now what Undeposited Funds is, it is the representation of the money sitting in the drawer. It's an asset. That's why I hope you locked that drawer. QuickBooks has it in all of your QuickBooks accounts. Every one of you already has this in your chart of accounts list. Some people actually change the name of the account to That Money in My Desk so that they understand what it is. Because we're not going to the bank yet, so we wouldn't pick the checking account. We're putting it in a drawer. The other thing is that if you made the mistake of picking checking because you're like, well, it's going to end up on the checking account, but then not going to the bank, then QuickBooks thinks you deposited every single item on its own. So when you get to the end of the month doing a bank rec would be a nightmare. Because you got 100 deposits in QuickBooks, one for each item, and you got four, one a week at the bank on your bank statement. So that's why they have this intermediary kind of holding tank called Undeposited Funds. Now you may find in your data file that this field doesn't even appear. And that's because they have this preference where you can turn it on or off. And if it's turned off, then you can't choose. It automatically goes to Undeposited Funds. I just turned off the preference so that I could teach this. So I'm going to go up here to the Chart of Accounts list and watch this. See the bank accounts at 101, 414. That Money in the Desk is at 0. I'm going to click Save and Close. Now it's at $25 and the bank account hasn't changed. Good! It shouldn't have changed. You should be able to look at this account and it should tell you how much money is in the bank. We haven't gone to the bank yet. So I'm going to go ahead and do one other one in case you missed it. This will be a sales receipt again. I'm going to get to it from the icon bar this time, or the menu bar. Inter-sales receipt. And I will do a cash one. Cash and we'll say somebody was paying cash for their membership, $710 cash. Wow! I wonder what that person does for a living that they have $710 in their wallet. Anyway, so this is for the Guidance Center. We'll put this in the drawer as well. Maybe you pick this up from them at an event. So that Money in the drawer or Money in my Desk is at $25. Save and Close, $735. So the idea is that even if you received it via credit card, you still do the same thing, because it's not going into the bank yet and it will probably be batched with other charges. So it's time to go to the bank. It's the end of the week. So let me show you what you do. And probably the best way to show you this is go to the home page. We've been doing this button right here. Now when it's time to go to the bank, you just follow the arrow. First thing you do is open up the drawer. And then in QuickBooks, or take this stuff out of your desk drawer. And then you click this button here. By the way, this number 2, this tells us that there were two transactions that should be waiting in the drawer to be deposited. This is something they added in 2017 of QuickBooks. It's not in the older versions. I'm going to click it. And then a window will pop up that gives you a list of all the stuff that's sitting in the drawer. This is wonderful. I love this. I like to call it an internal control. And since I'm an accountant and we do audits, and my accounting firm, I like this. Because if that money is not in the drawer, but it's on the screen, somebody stole that money. So you make sure everything that you see on the screen is in the drawer that you're about to deposit. You check it off. You click OK. And it copies it to the make deposit window. So then when you're finished with that, I'm going to go ahead and click on the chart of accounts list because this is my big finish. So that money in the drawer has $735 in it. The checking account has $101. I'm going to go ahead and say this records the fact that I've made a deposit, takes the money out of the desk drawer, puts it into the checking account. So that's basically the process. Now I could go into more details, but I want to move on to expenses. But let's just stop for a second because that is a lot of information. So let me go ahead and take maybe three or four questions, and then we'll move on. So Becky, how are we doing with the questions? Becky Sure. We've got a lot, and a lot are being answered in the back end. We've got about 100 questions in the queue right now. A bunch of people have said that they don't have the deposit to option. So like where you showed how you could list a deposit to a specific thing. Is that something that's unique to the 2017 version of QuickBooks from here? No, I think they heard because I did teach that. I'll just say it again. I taught this at the end. I don't know if they were listening. See where it says deposit to? That's because I have a preference turned off. The preference when it's turned on, it makes things go to undeposited funds. I turn the preference off so that then you get the choice. Let me show you where the preference is though. If you go to Edit, and you go to Preferences, and you go to Payments, and you click on Company, you see this one here that says Use Undeposited Funds as the default deposit to account. This is usually checked for people when they first get QuickBooks. And if this is checked, I'm going to click OK, then it assumes everything goes to undeposited funds. Let me get the homepage back up. It assumes everything goes to undeposited funds. So then when you click it, it doesn't appear. I turn the feature off so I could explain how it works. So we'll take a couple more questions, and then we'll go. What else do we got? Great. So what if you get gift cards donated, or other types of donations that aren't actually cash in your hand? How do you record those in income? Sure. Well, I was going to save it for later, but I'll do in-kind contributions next since people are asking. But as far as gift cards go, so somebody gives you a gift card. There's two ways to handle it. What some people do is if the gift card is small, like here's a $50 gift card. I don't really get much in gift cards. It goes for office supplies usually is how I end up spending it. So basically what they end up doing is recording it as an in-kind contribution, and I'll show you how to do that in a second. But if you have gift cards, and you get a lot of gift cards, and you want to track how much is left on gift cards, then really your gift card should be a bank account. So what people do, we'll go to the chart of accounts list, and we'll create an account. So this is one method of doing it. Make it a bank account, and call it gift card, or gift cards. And you can put all your gift cards to the same account. Then what happens is when somebody gives you a gift card, you can record it on a sales receipt as a donation. I'm going to go ahead and do it on a sales receipt because it's just like any other donation. And we'll make it an individual contribution, fundraising. Maybe we have a particular item set up for gift cards if we want to separate it out, but it's not really necessary. We'll say the gift card is $1,000. But then what you do is you go to the make deposit window, check this off, click OK, and deposit it to the gift card account. I'm going to go ahead and click Save and Close. Now what you have is an account for your gift cards with the balance in it. And then as you use the gift card, people bring you receipts, and you can literally use the right check window, and you can write a check out of the gift card account for how you spend the money. So then this will always tell you how much money is left in the gift cards. That's really the correct accounting for it. Now I'll do in-kind contributions which is an alternative method if it's not really that many times you get gift cards, but we'll do in-kind contributions next. But let me just take one or two more questions before we move on into that. Okay, so if you don't plan to use QuickBooks to send thank you letters or track your donors, what's the benefit of entering the sales receipts? There isn't. If you're not using QuickBooks to track your donors or send thank yous, then yeah, don't enter the sales receipt. There's no benefit. Go ahead and just use the make deposit window if you're not interested in tracking your donors. For those folks who are looking to use it as a way to track donors or send thank yous, we have a lot of questions of people asking how you created the template or where that was done for the thank you letter. So that takes me about 30 minutes to teach that. So that's one of the chapters that's in the training product which we'll discuss at the end. I feel like I'm trying to sell you on something and I know it sounds annoying but I promise you it's just because I don't have time to teach it. The templates, I will tell you where they are though. If you go to lists, templates, here's all your templates. You go here and you click new and this is where you create your template. But again, it takes me about 30 minutes to create one. So I can't really do that live. All right, let's go on if it's okay with you, Becky, unless there's something a burning desire anybody has. Becky Sure. Well, we had one other question that a bunch of people had asked just quickly that people don't know why there are two fields in different areas of sales receipts. Yeah, for classes. So why do we have two? Good question. Okay, so here's the deal. This class column, you actually don't have to have this class column. I changed the template to add it. And the benefit of having that is so then you can point one income to different classes. But if the class column wasn't there, that's why they had to have it up here. But what I'll say to you is this class column is really irrelevant. All right, let me show you what I mean here. The only relevance to this class column is it becomes the default for what's down here. This is what matters. You can leave this blank, but if you filled it out then what would happen is it becomes the default for the things underneath. But I just leave it out and I fill it out down here. This is the class that matters. This one is irrelevant. All right, so if it's okay with you, I want to teach the in-kind contributions because we've got a little over 30 minutes left and I want to get into the expenses because they're pretty cool. Just a reminder that we are here until 30 minutes past the hour. So stay with us because we'll have time for a lot more and more questions. Of course, yeah. Don't go anywhere. This is probably one of the most important moments of your entire life coming up right now. Maybe, maybe not. Well, it doesn't have to do with me. It has to do with QuickBooks because we all know and love QuickBooks. We really do. I'm just wasting time as I open up my next little topic here. I should say something inappropriate at this point, shouldn't I? Probably not. Or not, yeah. No, we'll get it open and we'll have time for lots of other questions and good stuff to be seen. We are turning away the questions on the back end. We've got 107 in the queue right now. We've already answered about 100. So we are working hard on the back end. Let me try this one more time. It'll work the second time. One thing, let's just talk real quick. What is an in-kind contribution is probably a good question. An in-kind contribution is a contribution of anything other than money. So it's usually stuff or services that are provided. And it's very important that we book our in-kind contributions because frequently the main expenses for a new nonprofit are covered because they are donated. And if somebody donates services or products, that's important. And if you don't book it, then you don't accurately reflect the true amount of donations you got because somebody paid for something rather than giving you cash, that's still a donation. And it also more importantly doesn't reflect the true cost of running the organization. So you've got to book your in-kind contributions. So we have a counseling center here and the counselors donate their time. They provide counseling to people who couldn't otherwise afford it. The counselors donate their time. So how would you book that? So even though this is the nonprofit edition, there's not a button here that you can push that says in-kind contributions. We don't want to do anything that affects the bank account because no money was exchanged. So we have to figure out a way to enter it. Now this might upset some of you, but the way to enter in-kind contributions is by doing, are you ready, a journal entry. I know, I can hear the size now. But some of us love journal entries. So I'm going to go up to the company menu, and I'm going to click Make General Journal Entry right here, and this is where you do your journal entries. Now it's very rare that you'll do a journal entry with QuickBooks. QuickBooks has these pretty little pictures, but sometimes you need to do a journal entry and in-kind contributions is one of them. So what you'll want to do is first of all, in your chart of accounts list, you'll want to create an income account called in-kind contributions. Some people call it in-kind gifts. And you just need one. You don't need more than one. And then you'll want to make that account go up. Now how do you make an income account go up? Do you debit it or credit it? Why doesn't somebody chat me up an answer? Do you debit it or credit it? I just want to see if anybody knows. Becky- Lots of people are weighing in credit. A couple of debits. That's right. The answer is you credit it. And I'm going to pop this up on the screen just to make you happy, and it will make you laugh. But this is a little chart. It's Alice, and Alice is pregnant. See how she's pregnant? And if you want to make an asset go up, you debit it. If you want to make a liability go up, you credit it. An income account, you're right. You credit it. An equity or capital account, you credit it. And if you debit an expense account to make it go up. So all of these things will make these accounts go up. And if you want to make it go down, obviously you do the opposite. So that's pretty cool, isn't it? Now if you tell me that was your favorite part of the seminar, I'm going to be upset with you. But anyway, so we're going to make this go up. Now what value should we pick? Well, if it's a product, if it's something like bags of clothing that we're given to us, you want to do the fair market value. If it is a service, the service needs to be valued at what the person would normally charge for it. So this person is providing counseling service. They normally would charge $100. They're only charging us $20. So the other $80 is a donation. So just because they don't discount it to zero, if they just give you a discount but you still pay them something, you still want to book the rest of it as an in-kind. So 10 hours in the month, $800. And then the other side of the entry, that would go to whatever expense account you normally would have put it to had you written a check for it. So I'm going to put it to the counselor's expense account. Now of course, you'll want to also put it to an appropriate class. This is a counseling center, and their main program is the counseling center. So we'll put it to the counseling center. So as you can see, what we've done here to record this in-kind contribution is we've made revenue go up, and we've made expenses go up. So we haven't really affected the net profit and loss at all. I'm going to go ahead and save it. But when you look at a P&L, and let's see, we'll just do a standard P&L, you'll see this $800. Let me, I don't want to make you dizzy. So here's in-kind contributions, income of $800, and then $800 in expense. So what it does, particularly if you make the P&L by class, is the $800 shows in the counseling center so it increases your program expenses as a percentage of your total. So that's what's so beneficial about booking in-kind contributions, especially if they benefit your programs. So the only other thing that I'll say about this, and then we'll stop and take some questions is some people get a little bit weirded out about booking in-kind during the year because when they report to the board, it kind of messes up your budget to actual reports. So I kind of wanted to show you that. Let me pop up this report here and make it total only. So here's a P&L compared to budget that you would send to your board of directors. And you'll notice that in-kind contributions, the actual is $800. People don't usually budget for their in-kind, so this is at $0, which doesn't really upset a board member. But look at the expenses. If you didn't budget to include your in-kind, then it would look like you spent money over your budget for counselors because we only budgeted for $100 and we spent $800. But that's not money we spent, it's money that was donated, or services that were donated. So what some people do is they create a separate set of in-kind expense accounts and put the expenses there. I don't actually like that. What I tend to do is if it's a big organization and you really rely on your in-kind, I budget to include in-kind. And otherwise, another option is just to wait to book your in-kind until the end of the year. That way the board won't give you any troubles through the year. So I think that's it for in-kind. So I'll stop and see if anybody has any questions and then we'll move on to expenses. We do have a number of people asking, how do you get to what the fair market value is? Of course, you can just ask the person. You can also, if it's a service. But there are also, I just wanted to mention that there are also fair market value estimators that are out there like Salvation Army has one online where you can pull up and see what the fair market value is of different products. So you may be able to use it a little like that. A lot of those kinds of big charitable organizations that receive goods, they have to provide a receipt that estimates fair market value for people's taxes. So you can look those up and use those to establish fair market value for a lot of goods, you know, if it's clothes or shoes or household things. But if it's for services, the best thing to do is to ask that service provider how much is your regular rate and how many hours, or is there a flat rate you would charge for this so that you have something that tells you what the actual cost would be. And you do want to get an invoice for them, some sort of documentation of what that dollar amount is to give to your auditor at the end of the year. Now if somebody bought something new, then you can just have them give you the receipt. A lot of times the board members will do that. I was looking to see where it is on this website. But anyway, is there another question or should we move on? Just looking at time, I think we can go ahead and move on. We are still continuing to answer a lot on the back end. Okay, cool. Then I will move this out and we'll move on. All right, so we're going to move into expenses now, and we're going to end with restricted grants. So when it comes to expenses, and somebody asked me this question earlier, and unfortunately I do need to go to a different data file. They wanted to know, Becky, you had read it, kind of what the difference is between entering a check through the banking menu versus entering a bill, which is through the vendor menu. And that's a really good question to ask. And really the difference is it just depends upon whether or not you want to use QuickBooks to track your bills or not, which I think you should. If you just use the right check window, then QuickBooks doesn't know what your outstanding bills are. And when you report to your board, I'm going to tell you that if I'm on your board, I want a P&L that includes any outstanding bills. And that would mean that when you print your P&L, you have to have entered your outstanding bills, and then you need to print the report accrual based, so it will include your outstanding bills. So I'm going to tell you, I don't think you should go to the right checks window very often. I think what people should be doing is entering bills and then going through the pay bills to screen to pay them. But I'm going to show you how to do both methods here in a second. I don't know why my mouth is no longer working. And neither is the data file. We're stuck here for a second. But once this opens up, I'm going to show you the appropriate way to enter your bills and pay your bills. This is taking a really long time, and I'm stuck. Let me see if there's anything I can do to fix this. Yeah, if you want it, we can take a couple questions while we try and get it to load up. Yeah, why don't you do that? Because for whatever reason this isn't stuck. Yeah, go ahead and take a couple questions. So for example, Donna asks, what if your CEO purchases an asset for the office with their own funds and they don't want to be reimbursed? Is that something that counts as an in-kind donation, or is that something that she just reimburses as a business expense? If they don't want to be reimbursed, that's an in-kind contribution. It's just that what they bought was new instead of used. So you would enter it as an in-kind contribution. It wouldn't be necessarily on a thank you letter. The thank you letters would necessarily include money, but not stuff. And then there's a separate place on their individual tax return where they put the stuff that they gave rather than money. What else do we have? Great. And so when you say Sue asks in particular, what do you print for a receipt for the donor of an in-kind donation? So when you said you don't want to put money necessarily, what do you give them to show that they donated? Great question. You give them something that doesn't have a dollar amount on it, and you don't give it to them adequate books. You ever notice when you go to Goodwill and you make a donation and they give you something that doesn't have a dollar amount on it? It's because Goodwill doesn't want to be on the hook if you get audited by the IRS and you valued that bag of clothing at $5,000. Goodwill doesn't want you giving them a receipt. Well look, Goodwill said it was worth $5,000. So that's why you basically the onus is on the donor to figure out the dollar amount. Now you have to also figure out what value you're going to book it at. But you book it at what fair market value is according to you. The donor, who knows what they're going to book it at except to them. So you don't give them something out of quick books. Next question. Let's see, we've got, and so again following up on that, then you would not put what the fair market value is on their receipt. You would just leave that for them to fill out. You would just put the fair market value in your own books when you're doing it. Okay. Lots of questions just clarifying that. Maybe this was good that my computer died so that I can answer those questions. A lot of people were curious about how to do that, so that makes a lot of sense. So what if somebody donates their services as a volunteer? How does that build? So do you build volunteer hours if they're maybe not professional hours and just labor or if they are professional and it's a professional service that they're donating like transcription? Does that make a difference? Yes. So it's very important. This is an accounting thing. Sorry about this. I'm having an issue here. The only thing that you book is services that are provided by a professional that does that service professionally. So you would not be booking volunteers that just take tickets at a show or perhaps they come in and they answer the phone for a little bit. That's not something you would book. The accounting gods don't want you to do that. You only book something that was offered by somebody that does it professionally. All right. So let's move on because we've only got about 20 minutes left, 22, and I need to cover expenses. Sorry about that. So the expenses, again, I'm going to tell you to enter and pay bills. Let me just show you how to enter a bill. Click Enter Bills. Nothing real complicated here. This will just take a second here. We'll enter the bill and let's see. We'll put AT&T. And here we put the date of the service. We put the reference number here. This is basically the number on the bill. Put the dollar amount here when it's due, whatever the expense account is. And this can actually be print out if you would like to. I'm going to click Print. And you can print what you've entered. And a lot of people do this because when you print it out what it shows you is basically what expense account you pointed it to, what class you pointed it to. And we're going to show you how to use this customer job fail to track grants, but it shows you that too. But the point is you can put this on somebody's desk and they can approve it both to pay it, but they're also approving where it was pointed to which is another really good internal control. That's something you can do with the QuickBooks desktop that you have. People that have the online edition don't have the ability to do that. The other thing that you can do when you enter a bill is you can attach an electronic copy of the actual bill. I'm going to click Attach. You've been able to do this for years. And then if you haven't scanned it yet then you click Scan. If you've already scanned it or it came in electronically you can click Computer. And then it goes to your browser and you browse around your computer looking for it. Here's my bill right here. I click Open. I click Done. And now you'll see there's a little one here. So what that means is whenever I get a call from AT&T and I want to get a copy of the bill, I'm sitting in front of my desk. I don't have to see the actual bill attached to this bill. I can just click here. Click on here. And it will open up an actual picture of the bill. Let me show you. It's over on my other screen here. There it is right there. So that's a cool feature. It's free. And I think it's really neat. So this expense right here, telephone. We'll say this telephone is specifically for the Guidance Center. So we'll point that to the Guidance Center. I'm going to go ahead and save this. Some expenses, and I wanted to teach this, some expenses, they don't necessarily automatically go to the same place. In other words, they need to be split. A good example of that would be like utility bills. So let me see if I have Atlanta gas in here. No, I don't. So Atlanta gas, this is where we pay our gas bill here in Atlanta. So what I'm going to do is I'm going to say, you know what, this bill needs to be split. So I'll make it $350. And I'll put here gas. But I'll say, based on square footage, and that's what you do, based on square footage, just you know what, 80% of my space that I rent is used for program. So I'm going to put 80% of this to the program. So I'm going to take $350. I'm going to multiply it by 80%. 280, that's 80%. And whoops, not 0%. I'm just putting the percentage here so that we can rough call on it later. It will be important in a second to the Guidance Center. And then I'll put the rest of it which is 20% of it to Admin. So that's basically how to enter a bill when you need it split between classes. Now I'm going to get QuickBooks to automatically memorize these percentages, but I'm going to do it in a second. I want to finish what I'm teaching first. So that's how you enter bills. Let's put a reference number here for this bill. And then I'm going to click Save and Close. Now when it comes time to pay bills, do not go to the right checks window because if you do that, then QuickBooks doesn't know the bill has been paid. I know that you might want to get a check out of QuickBooks, but don't go to the right checks window. Instead you go to the Pay Bills window. I'm going to click Pay Bills. Here's all my bills I'm going to pay. You select which bills you want to pay. I'll select this one and this one. You pick the bank account that you're paying out of. Here's two bills to the same vendor. I want to check them both off. How many checks are coming out of the printer? Why don't you chat up and tell me how many checks are coming out of the printer for two-ease catering if you check both of them? Who knows? Let's see. Lots of people just saying one. Yeah, just one. That's right. No, it's just one. If you want separate checks, you have to check off this one and then click Pay Selected Bills, then go back into the Pay Bills screen. The other one will still be there and then you check the other one. But if you check both of them at the same time when you're in this screen, only one check is coming out of the printer. Now Wack and Hut, I'll go ahead and check them off. Anybody see a problem here? Go ahead and tell her. Do you see any problems here? Let's see. I'm waiting for a chat to come in. Tell me what's wrong. So it's negative balance, overdrawn, not enough money. Exactly. And that's because it assumes that I want to pay 100% of every bill, which is crazy. So I'll just pay 3,000 of it. That way we'll have some money left over in the bank account. Don't worry, the rest of it will be outstanding and we'll be there to pay the next time you go into the screen. So that's basically how you pay your bills. Now if you are the kind that print your checks, then you would click to be printed and you would select pay selected bills. And then it will create those checks. Here they are. And then you click print checks. QuickBooks has a list of checks to print. There were other checks that we're waiting to print anyway. You make sure that this is the right bank account. This is the right check number. You've got to order these checks. You can order them from Intuit or you can order them somewhere else. You can order them from your bank. I'll click OK. And QuickBooks has three types of checks, the wallet, which very few people use. The standard is nice because it prints three checks to a page, but most people use the voucher. And the reason why, whoa, I know I made you dizzy there. The reason why is because the voucher is 8.5x11 sheet of paper. The top third is your check. The middle third is a voucher that goes with the check. It lists all of the bills that you're paying complete with their reference numbers. And then the bottom third is perforated so you can tear it out and you tear the bottom third out and you staple it to your copy of the bill and you put it in the vendor file. It's nice and anal retentive and everybody loves it. So this is what you would do if you want to print your checks. Now if you don't print your checks, you can still do the inner bills, pay bills thing. It's just that when you go to pay the bills, you click Assign Check Number. You click Pay Selected Bills. And then if you are going to hand write a check, they're assuming that you have the checkbook next to your computer screen and you write the check numbers there. Now we are in 2017. A lot of people don't pay checks anymore. They pay online. If you pay your bills online and you've entered the bills in QuickBooks, you simply type in the check number field. I bet you a lot of people didn't know you could do this. You type online. And then you are basically telling QuickBooks that you are paying it online. So when you look at the check register, you will see that anything that has been paid online where the check number is, it will say online which is perfect. So I think that's what I want you to do. I want you to enter your bills, pay your bills. Enter your bills, pay your bills. The only caveat is if somebody, how do I say this? When would you ever use the right checks window? The only time I really use the right checks window is for two reasons. One, if somebody comes into the office replaces the copier or something, somebody does a repair and they want money immediately. In other words, as soon as I found out about the bill, I had to pay them immediately. You might as well just write a check. Somebody steals a check out of your drawer and goes to the office supply store and then says, oh by the way, I took a check, check 1005, here's the receipt. You might as well just enter a check. If there is no delay of payment, enter the check. That's fine. Another reason, a lot of people have debit cards. I'm sure tons of you do. There's not a button here for debit cards. To enter debit card transactions, go to the right checks window because if you think about it, a debit card is like a check. There's no delay of payment. It's just that when you paid it, you didn't give them a piece of paper. You gave them a card, but it's still like a check. And then over here in the check number field, you can just put debit. All right, so I've got two more little things to teach. Let's stop for a second and I'll take a couple of questions and then I'm going to teach you how to spread expenses automatically. Go ahead, what do we got? Okay, so you covered the debit, which we got a lot of questions on, so thank you for that. We also have people asking how do you record credit card and PayPal? So PayPal is like a bank account. So what you'll want to do is go into your chart of accounts list and create an account called PayPal. And then what you're supposed to do, everything else is completely obvious. You make deposits into PayPal. You just go into the make deposit window. You do the sales receipts into PayPal. And then when you want to transfer money out of PayPal into the checking account, you go to banking and you go to transfer funds and you transfer it out of PayPal into checking. I wish I had more time. I just want you to understand PayPal, treat it like a bank account like any other bank account. As far as credit cards, go to the chart of accounts list, bottom left hand button, New. There's an account type called Credit Card. You set up the credit card here. Think of it as a payable account outside of the rest of payables. This is where you enter it. Or where you set it up. And then there's something in the home page I think there. Intercredit card charges. You click it, you pick the card. This is from your chart of accounts list and you enter the charges right there. So that's basically how to handle it. It's in the training products, but I don't have time. I'm going to move on here so that we can finish right at 3.30. Otherwise I go in more, but it takes about 20 minutes to teach that. So if it's okay with you, I'm going to do the last two things we got to teach. The one thing is where to track restricted grants. So that I think I can do that fairly quickly. I need to change to a different data file. What a lot of people have, they have grants and the grants are restricted. And the most important thing you got to find out about a grant when it's restricted is how you spent that money. So a lot of people will try to use the class feature to track expenses that are being paid for out of a grant. They'll create a class for the grant. Well that's wrong because we're using classes specifically for your programs. We're not using them for your grants, which means we need another thing to track our grants, another list. And what we're going to use, what I'm advocating that you use is the customer list. So what you want to do is each grant you want to put in the customer list, and I'll show you how I have this set up. We'll go to the customer list here. And you'll notice, I'll just pick these two. You see how I have a grant called Help for You? And then underneath it I have two sub-grants, one for 2019 and one for 2020. So if you have a funder that you get money from every year, you want to set them up as a customer. And then you want to set up sub-customers, QuickBooks calls them jobs. This was something we talked about a couple of weeks ago, for the individual grants by year. But you want to have a separate name in this list for each year. And then the benefit of this is that when you're entering a transaction, and I'll just show this real quick and then we'll finish up, here's where you put the expense account, here's where you put the class, and here is where you can put if it's paid for out of a grant. So you do that for each one of your expenses, and then let me show you how you can get a report showing you how your money was spent. Profit and Law Standard. We'll make the P&L, we'll make the date range all dates, so it incorporates all transactions. And then we're going to go to Customize, and we are going to select the Filters tab, and we're going to filter this report to only include the grant that we are interested in. So then all transactions that were pointed to it will appear. And I think I have one for the Villa Foundation. I'll click OK on that one. And then what it gives me is the money that I got in for the grant, as well as all the money that was coded or pointed to that grant. If you click on any of these, it will take you to where the transactions were pointed to the Villa Foundation. So that's how that works. I know that's a lot. We only have 6 minutes left, and I don't want to be rushed at the end here. So how do you want to handle this at the end? I had kind of one more little thing I wanted to show, but it's going to take longer than 6 minutes. It's probably more important that we take time for questions. I think we have questions. We also have to show a little bit about the programs, where to get them, coupon codes, stuff like that. Well, let me show a special offer. Let me go to that. Oops, here we go. So for the next 48 hours, go ahead. Yeah, you can do it. So we have training products that we sell. One of them is called QuickBooks Made Easy, The Essentials. That one you can get from TechSoup. The other one is called QuickBooks Made Easy Beyond The Essentials. And normally we sell it for, I think, $249. It's $149 here. So you're getting it at a very big discount. We also have, and what it is, it is 6 hours on a DVD that goes into much more detail than we do here. There's a chapter in there about how to get the thank you letters. There's a chapter in here. There's two chapters for churches on how to track funds. There's chapters on how to track capital campaigns. There's all kinds of extra stuff in there, a lot of the stuff that we cover during the seminar. So I'm going to give it to you for $149, but it's only for 48 hours. And you go to the QuickBooks Made Easy website and use this code, 17BE149. The other thing that I'm going to do is we have technical support agreements where you can call. I know a number of you already have them with us. And for one year you will be able to call us day, night, on the weekends. There's a team of us. There's three of us that will answer your questions. And I know a lot of you are going to need this. It normally is $300 for the year. We're going to give it to you for $149. We're only going to give it to you for 48 hours. So here's the code 17T capital S, and then the code for the product 17BE149. And you go to the QuickBooks Made Easy website in order to get that, and I'll turn it back over to you to finish up. And then if we have any time I'll take some more questions. So don't leave the phone yet. Go ahead, Bec. Great. Thank you. So we have this quick poll question for those of you who want to get more info from Greg. You can yes or no on this question to let us know if you'd like to get their monthly newsletter. It's once a month. They send out little short video clips and tips on how to use QuickBooks better. So feel free to answer that. And at TechSoup we don't give out your information to any of our donor partners unless you opt in. So we will not share your information unless you select yes. And like I said it would be that once a month newsletter from Greg. And then I want to make sure people know where to actually get QuickBooks or upgrade if they are needing a newer version. Like we mentioned that QuickBooks are into it only supports their products for 3 years. So if you're on a 2014 version you'll need to upgrade or earlier version than that. You'll want to upgrade so that you're not using a version that is insecure. And you can do that by going to TechSoup.org, select on our product catalog list by donor or company, and go into it. They are the ones that make the QuickBooks products. And you can also see QuickBooks made easy here on this little screenshot as well. And you can access the one user license for $50, the three user license pack for $125. And you can request these every year. So if you need more than three licenses you can just wait and get another set the next year. QuickBooks for Mac which is available again. It was not available a couple of weeks ago, but it will be retiring soon according to Intuit. So you'll be trying to move folks onto QuickBooks online at some point I'm sure from that product. So that's available on our site at Intuit, TechSoup.org slash Intuit. And you can get the QuickBooks made easy at TechSoup.org slash QuickBooks made easy. I also want to just let people know that we have some helpful sites that have additional resources, articles, related content where you can learn about the different products into it, software, nonprofits, and we'll share that out with lots of little video clips and whatnot. We are just a couple of minutes from stopping. So I'll just ask a couple of quick questions. We had a bunch of people asking how to memorize, and I know you'd mentioned it a few times, but is that something that you can cover in 20 seconds? Yeah. I'm sharing my screen again. Can you see the QuickBooks screen? It looks good. Okay, cool. So memorizing, I'm not sure if they're talking about memorizing reports or memorizing a transaction. But if you pull up a report, I'll just pull up a little P&L and I'll just make the date range this fiscal year to date. And I can make any changes that I want to. And this is the little button where you memorize the report. So we click Memorize, and I'll just name it My, P, and L. And click OK. And now that report you don't have to find anymore or create anymore. So you just go to Reports, Memorized Reports, and here's my report right here. Pop it up on the screen. So what's the other question? We have a question about for in-time donations that you plan to sell or raffle or re-gift. So for example, if you take cars as a donation but you know that you're going to be selling them, how do you best track those? Let's talk about that offline. That's going to take a little bit of time. Sorry about that. No problem. Where would people manage pledges? So if you call folks and they say, I will donate $20, but they don't actually do it at that moment. Yeah, so a pledge is a promise to pay in the future. And we actually have a whole chapter in that and the Beyond the Essentials. So I think it's in the Essentials training product as well. But you would use the invoice feature for that because it's a promise to pay. So that's where they would use that feature. So you use invoices, but I've got to teach invoices and I don't have the time to do that because we only have a few seconds. What else do we have? This will be the last question for today. Is there a way to provide an annual summary of individual in-time donations from a specific person? There is. It's in the Beyond the Essentials training product. It shows you where to go. But it involves, I'd have to go back to that other data file, but it involves doing basically a report in the chart of accounts for your in-kind contributions. I'd have to go to the other data file, but it involves doing what's called a quick report and then sorting it so that it prints out a separate page for each person. We cover it in the Beyond the Essentials training product, which is the one that I was talking about. Here's our website. So if you go to either products or tech support, so if you want the nonprofit product, you go here, and I'll give you a little trick by the way. If you buy the Beyond the Essentials training product, which is right here, it's normally $229 plus shipping. We're giving it to you for $149. When you add it to the cart, you can add tech support for an extra $100, just $100, and then you get it for an entire year. So that's a pretty good deal. But you've gotten till Friday at midnight, I think. And that's it. Great. Well, I'm going to go ahead and stop sharing since we are past time. I'd love to have you chat in one thing that you learned during today's webinar that you're going to take back and try and apply to your own instances of QuickBooks. And then we'd also like to ask you to complete that post-event survey that will pop up when you exit out. We'd like to remind you that you can access a lot of courses that are available for you for free at TechSoup's new Learning Management System platform at techsoup.course.tc slash catalog, and invite you to come to upcoming webinars and events. We have later this month a way to maximize your tech donations through TechSoup, and we have coming up in early April a disaster prep and recovery webinar. And there's lots more coming. They're just not on this list today. If you have questions that we didn't have time to answer, the best way to access those is really to reach out and get that tech support from Gregg. Check out those products that do the trainings in depth. In 90 minutes there's only so much we can fit. So we really appreciate the folks on the back end, Deborah, Megan, Katie, David, everybody's fingers are working to the bone here trying to get questions answered. So we really appreciate your time on that. Thank you to David and Gregg especially, and Susan on the back end here at TechSoup for all of your support. We really appreciate that you joined us today, and we hope that you'll come again soon. Thanks a lot. Bye-bye. Thanks, guys.