A Two-For-One Session: Special Events and In-Kind Contributions in QBO

Webinar Info

Join Gregg S Bossen CPA and national nonprofit trainer for this two-part session covering these two topics vital to nonprofits using QuickBooks®.

Special Events in QBO
Do you have a fundraising event? Do you do an annual gala dinner or luncheon perhaps with sponsorships, ticket sales, table sales, a silent auction, food and speakers? Or perhaps you run a golf tournament for charity? Figuring out what the net profit from the event without messing up your books can be tough! What about the hours and hours of staff time spent getting ready for these events? Shouldn’t that be factored in as well?

In this webinar, learn how to easily track special fundraising events in QuickBooks® without messing up the rest of your books and also to stay in compliance with nonprofit accounting standards.

Topics include:

• What constitutes a Special Fundraising Event?
• How to use accounts, sub accounts, and contra accounts to easily see a net of the event AS PART of the Profit and Loss
• How to enter the budget for each event
• How to get a Budget to Actual report for the event as well as other reports
• How to enter amounts for staff time spent to get an honest picture of the true profit

In-Kind Contributions in QBO
Do you get In-Kind contributions of stuff (computers, furniture, food, clothing, household items for clients, auction items, etc…)? What about services (IT help, advertising, graphic design, professional services, rent, etc….)? In-Kind gifts are an important way nonprofits receive support from donors and are REQUIRED to be booked by nonprofits. More than that, they can frequently count towards meeting the matching requirements of traditional grants and when booked more accurately reflect the true cost of running your nonprofit. Figuring out what can be booked, how to value them, and how to get them into your QuickBooks® file can be challenging.

If you receive In-Kind donations of either stuff or services, then this webinar is for you!
In this webinar, we will first explore everything you ever wanted to know about In-kind Gifts but didn’t know who to ask.

Topics include:

• What kinds of goods and services received can I book as In-Kind gifts?
• What are the rules for when I can book services received?
• How do I determine the value I book?
• How do I book these things in QuickBooks®?
• What am I required to report to the donor?