When it comes time to run reports, the standard QuickBooks reporting function creates the same reports as the QuickBooks Nonprofit edition, with the only difference being the labels.
Likewise, the “Create Invoice” field can be replaced with “Enter Pledges” to meet the nonprofit’s needs. For example, a label called “Create a Sales Receipt” in QuickBooks Pro is the equivalent of the “Enter Donations” label in QuickBooks Nonprofit. The good news is, there is another option: You can customize the set-up of the traditional versions of QuickBooks – including QuickBooks Online – to meet the needs of a nonprofit organization.įor starters, nonprofit organizations can rename QuickBooks labels to reflect their terminology. However, QuickBooks can be a valuable tool for both types of organizations.Īlthough QuickBooks does offer the Premier Nonprofit edition that incorporates nonprofit-specific language and features, it does cost more than the standard version. Nonprofits focus on generating funding while for-profits focus on sales and increasing the bottom line. Nonprofit organizations have different tax reporting and financial reporting requirements than traditional for-profit businesses and different accounting needs.
