15 Nov Non-Profit Edition
Nonprofit Edition includes the Unified Chart of Accounts (UCOA), customized reports, tracks donations, pledges, and grants, includes customized forms and letters, and includes a Statement of Functional Expenses (990) Report to aid in review of categories. These reports are not included with the Accountant Edition like with the other industry specific versions because they are just variations of reports already available.
With version 2004 the number of industry specific versions of QuickBooks Premier has been expanded. One is the non-profit edition. Intuit”s web site states that the software is “specifically designed for nonprofits” and by using it “gain greater insight from nonprofit-specific reports.” In this article we share our interpretation of this product
Installing the non-profit edition is like installing any other QuickBooks software, place the CD in the drive and it will automatically launch. Follow the instructions on the screen to complete the installation. If a previous version of QuickBooks was used, the data file will automatically convert when opened for the first time. The non-profit edition contains all the features of Basic, Pro and Premier Products. What makes it unique is a non-profit navigator and the ability to import the Unified Chart of Accounts (UCOA). It also includes two templates, a standard pledge template (i.e. a customized invoice) and an Intuit Standard Donation template (i.e. a sales receipt). The navigator uses the non-profit terminology for these forms that are included in the other versions. For the industry specific reports: the “Statement of Functional Expenses – Form 990” the Intuit web site refers to is a Profit & Loss by Class with the change in the title; the “Donors and Grants” report is the sales by customer summary, and the “Biggest Donor list” is the sales by customer summary report with the modifications of adding the % of column and sorting by total and clicking on the arrow to reverse the order (i.e. largest total first); and the “Statement of Financial Position” is the Balance Sheet report. Like most of the industry specific version, the use of common terminology is helpful to non-profits when using the software, and the additional navigator and templates is nice. However, functionally, the changes are not significantly different than what can be accomplished with the “non-industry” specific versions of the product.