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How to Work with Form 990 in QuickBooks for Nonprofits
Published 11/14/2009 | 
Don’t forget that much of the information required on the 990 isn’t financial information contained in QuickBooks. Because of this, I usually recommend using QuickBooks reports instead of worrying having a direct import into the 990. If you’re using QuickBooks for Nonprofits, there’s a Statement of Functional Expenses (990). If not, you can use a Profit & Loss by Class report.
No matter what you decide, it’s critical that your classes are setup correctly to mimic the 990 information – at the very least you’ll need these three:
G&A
Fundraising
Programs
And if you have any temporarily or permanently restricted funds, these six:
Unrestricted:
G&A
Fundraising
Programs
Temporarily restricted
Permanently restricted
You can add additional sub-classes if you want to track particular programs, restricted funds, grants, etc.
Written by +Ruth Perryman, CMA, CFE, CFM, MBA
Ruth has provided QuickBooks help to thousands of businesses around the world since 1996. She is an Intuit Solutions Provider, an Advanced Certified QuickBooks ProAdvisor, and a member of the Intuit Trainer/Writer Network. She is also certified in QuickBooks Point of Sale and QuickBooks Enterprise Solutions.
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