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Sql Network Interfaces Error 26

welcome to quickbooks for new nonprofitusers. my name is becky wiegand and i am the webinar program manager here attechsoup where i have helped to run programs like this for the past nearly 7 years. prior tothat i spent a decade working at small nonprofits in washington dc and oakland california. i wasregularly the person having to make tech decisions and reconcile accounts without havingmuch experience or training myself.

Sql Network Interfaces Error 26, so i have been in your position andhopefully today’s webinar will provide you with enough expertise to dive in and start usingquickbooks for your own organization’s benefit. our expert joining us today isgregg bossen. he’s a practicing cpa and advanced certified quickbooks proadvisor with a full service accounting firm

located in atlanta georgia. he is alsothe founder and ceo of our donor partner quickbooks made easy. since 2000 gregghas been teaching live quickbooks seminars around the country specifically designed for thenonprofit community. so he is really considered a national expert on this program. andwe are really glad to have him joining us. you will also see in the back end helping managechat questions, allyson bliss and ale bezdikian from techsoup. you may also see lewishaidt from techsoup and kaydee peterson who will be helping answer accountingrelated questions, and david webb who is also from quickbooks madeeasy. so keep an eye out for them. feel free to chat in to us to let us knowwhere you are. techsoup, we are here in sunny

san francisco today hosting this event.and gregg is joining us from atlanta. so go ahead and let us knowwhere you are calling and from. lots of people all over the country joining.and i know you can’t see the chat questions, so if there is anything particularly usefulwe’ll make sure to chat it back out to you. a look at today’s agenda, we willcover techsoup and quickbooks made easy in a quick introduction. and then gregg will takeus through a live walk-through of how to get started, how to set up lists, and then we willhave a good chunk of time toward the end to help answer your questions. we have nearly 1000 people in the roomwith us today, so this is a big event.

so just keep in mind that we will probablynot be able to answer every single question that comes in. and we have a secondwebinar for existing quickbooks users taking place next thursday, march 5. we will share alink out to that if you are interested in joining that. and after that we will have a live forum chattaking place on techsoup’s community forums where we can continue answeringquestions about accounting in quickbooks. and you can go today after the webinar ifwe haven’t had time to answer your questions, to ask them there and you will beable to expect answers next week. so little bit about techsoup, weare a global network of 63 partners serving technology resources and knowledgein more than 120 countries around the world.

and we are doing this by deliveringtechnology donations through our partners with companies like intuitthat provides quickbooks, and groups like quickbooks made easyto nonprofits and social do-gooders around the world. we have done this to the extent that we have nowserved nearly $5 billion in technology products and grants to the social benefit sector. you canlearn more about our programs at techsoup.org. now jumping into the content of theday, go ahead and pick one on this menu. i am not providing any context. andgregg if you want to provide some context you are welcome to jumpon the line and do so.

gregg: the context would be that i likeeating, so that would be the context. becky: don’t we all? gregg: i mean, we’ve gotbecky: you’re making me hungry. gregg: we’ve got so many people. i thoughtit would be interesting to see, like, what the responses would be. becky: we have some peoplecommenting “whatever is vegan”. we probably should have includeda nice garden salad or something. gregg: i know, i know. you suggested that. butcan’t you get sushi vegan? i think you can, right? becky: you probably can, yes. so we havea lot of people responding and, like i said,

we have now more than 1030 people inthe room with us and a lot of people liking all-you-can-eat shrimp and cheesynew york pizza. it’s not surprising. so i’m going to go ahead and justshow the results, which many of you are probably already seeing on your screenif you’ve submitted your responses. lots of hungry people out there and asmall amount of people who are on a diet, so gregg: that’s hilarious. it’s pretty split evenlyand 178 people are up for sushi, so that’s cool. becky: almost a thousand people are respondingalready. this was just to keep it a little bit fun at the front end, but i want to go aheadand have gregg tell us a little bit more about quickbooks made easy, so then, we candive in to the live demo and get you on your way

to using and setting up quickbooksfor your nonprofit organization. we’re glad to have you all joining us andvery grateful for gregg for taking the time out to do this training with us. gregg: great. thank you so much. i appreciatethat. and thanks to everybody that’s helping, especially just a shout out to kaydeepeterson who will be helping to answer some of the chat questions. she is an associatetrainer with us, and she’s also the owner of peterson businessservices, so thanks, kaydee. and, as far as myself, my name, gregg bossen,again. i am a cpa with an accounting practice in atlanta. i specialize in nonprofitorganizations. we do a ton of work with nonprofits,

and i also am the ownerof quickbooks made easy. and quickbooks made easy is all about industry- specific training. and, basically, we are trying to help people invarious industries and the main focus, to be frank with you, these days is nonprofitorganizations. we’re helping to teach nonprofits how to use quickbooks to track thespecial things that you guys need to track. so we do it in three ways. one, we havetraining products that we have for sale, and i’ll pop over to the web site in aminute and i’ll show you what they are, because you’re going to get pretty bigdiscounts for going to this webinar here. we also have full year’s tech support where youcan call. we can even dial-in to your software

and we can help you with your quickbooksquestions as it relates to nonprofits for an entire year. and then, finally,we do live seminars across the country. and actually, these are some of the cities thatwe’re going to over the next couple of months here. we go to about 17 or 20 cities live. so if youare interested, then you can click on the link there and you can sign up. but obviously, youwant to see if i’m any good first, right, before you do it to see me live. so i told you that we’re going to give yousome nice little coupons here or discounts for some of the stuff that we offer and wehave three things. we have – the biggest one i want to talk about is the unlimited tech support.so we offer tech support. it’s $299 a year.

it’s $199 if you use this little codewhen you go to buy it at our site. but we’re actually going to offer it for $99,which i know sounds crazy, but we’re going to do it. for those of you that came to this webinar, we’regoing to offer you a year’s worth of tech support with a cpa based here in theunited states that knows nonprofits and knows how to use quickbooks. all right?it may be me that’s your tech support person and we’re going to do it for $99 for a year. so then, we have discount on the products that we have beyond the essentials is $179with this code and then $20 off of any class. so i’m going to go ahead and share my screenand i’m going to take you over to the – to the web site for quickbooksmade easy. and then,

there we go. so you shouldbe seeing the screen now. and our products are here, our tech support ishere and our live seminars is here – are here. so you just go to quickbooksmadeeasy.com andthe tech support, again, we’re going to give away for $99 with a little code. i’m going to tell youwhat it is towards the end of the seminar. all right? so i think that’s basically it. so, with that, i’m readyto start. and so, the first thing that i want to do, i’m going to – i’m going to go ahead and starthere. i want to start at the very beginning – actually, i think we have another pollquestion here, don’t we? i want to find out becky: we do, yes. we want to make surethat people – you know, we have so many people joining today and we know that there are a lotof different versions of quickbooks out there.

and so, gregg is going to give us a littlebit of background about what quickbooks is for, but we also want people to respond – i don’tknow if you’re still able to respond to this since it looks like a lot of people responded when wewere testing it. so i’ll have to pull this up again. but today, we’re going to be showing – ongregg’s desktop he has installed quickbooks 2014 installed version. gregg: fifteen – 2015. becky: is that what – i’m sorry– i thought that’s what i said. quickbooks 2015 is what we’ll be showingit on. if you’re on an earlier version or using the online version, i think a lot ofthe principles that gregg will be covering today

will still be applicable to youthough the screens may look different. if you’re in the online version, i know thatthere are some parts that look pretty different because it’s just a very different interface,so keep that in mind that, you know, we have so many people. we can’t necessarilyserve every version in one webinar. so we want to make sure you know that, buta lot of the basics should look the same. gregg: all right. thank you. and goahead. we’ll just leave this slide up. they can see the poll,correct? can they see the poll? becky: they can see it, but it’s notletting anybody participate in it because gregg: that’s fine, that’s fine.

so let me just tell you one thing, guys,especially for those of you that haven’t purchased the software yet, that there are different versionsof quickbooks. so i just wanted to cover that for a second. and, every year, they comeout with a new version of the software. i’m going to be teaching with version2015, but, every year, they make changes, but the majority of the program is thesame no matter what version you’re using. so if you have an older version of the softwareand you’ve come to this webinar, don’t worry. you’re going to learn everything. it’s cool.the other thing is that when they come out with a new version every year, theyhave five different choices, actually. one of the choices, and i have it herein parenthesis, is called quickbooks pro.

and quickbooks pro is kindof the basic quickbooks. that’s not what i’m going to be teachingwith, but it will work fine for your nonprofit. so if that’s what you have, not a problem there.then, there’s the premier nonprofit edition. that is what i’m going to be teachingwith. and if you got that version and those are the first two in this littlepoll here – 2015 quickbooks nonprofit. that’s the premier version of nonprofit. that’s what i’ll be teaching with. that’s the one you can get from techsoup andit’s actually the cheapest way to buy quickbooks. and i’ll just take you to the web site andshow you where you go to do that in a minute because it looks like a lot of peoplehaven’t even bought the program yet.

if you have quickbooks for the mac, you canpurchase quickbooks through techsoup as well, and then, we have the online edition. so some people have the online edition. the screens look different, but as beckywas saying, the techniques are the same. so i will pop up the online edition if i get a chanceto and show you what it looks like, but not to worry, you’ll get what you need out of the seminar.the fifth option is enterprise solutions for people that are really large. the – that’s afairly expensive piece of software for businesses that are really large. so the vastmajority are using the nonprofit edition, so that’s what i’m going to use. butregardless of what you use, you’re going to be – you’re going to be fine in this seminar. so let me go ahead and share my screen.

and, for those of you that have not purchasedquickbooks yet, the place to go is techsoup. and i like to start real basic. so we go to www.techsoup.org. and then, in the “search” field,you’re going to put “quickbooks”. those of you that already have quickbooks,just bear with me. it’ll only take a second. i’m going to click this. and you will find inthe search – i mean, of course, you want to log in with your member log-in. but once you’re inhere, you’ll see all kinds of things that relate to quickbooks. we have one of ourtraining products which is $229 normally. you can get for either $39 or $99 throughtechsoup. and then, we have quickbooks for the mac. and then, wehave quickbooks for the desktop.

they have a version 2014 and a version 2015. iwant you to get, if you haven’t bought it yet, version 2015. you get it throughtechsoup here. if you are the only person that’s going to be using quickbooks,you want to get the single-user license. if you have more than one personthat’s going to be using quickbooks, then you want to get the three-userlicense. now, if you are the only person, but you want to load it on to two machines, yourhome and your office, or your office and a laptop, the single user is fine. don’t worry about it. it’ only if you want to have more than one person using the program at the same time thatyou’re going to need a three-user license. it retails for $750. you can get it at techsoupfor 99 bucks. so i’m going to click “view details”.

and you will simply log in, add it tocart, pay for it, and then it’ll download. so it’s downloaded to your machine. you’renot going to get the thing in the mail. it’ll be downloaded. once itgets downloaded into the machine – like i said, i like to start at the beginning– what you’re going to be looking at, actually – here we go – you’re going to be looking at ascreen similar to this once you load the program. now, these boxes at the bottom here, they’regoing to be bigger than they are here. but you’re going to get three options.one option is to create a new company, a second option is to open or restorean existing one and then the third option is to open up a sample file. i wantyou to play around in the sample.

so you click “sample nonprofitorganization” and you open it up and you play around with it. allright? so let’s go ahead and do that. so before you ever even set up your company, iwant you to play around with the sample files. so i’m going to go ahead and open up asample file. and when that opens up – i wish i could hear everybody. i don’t thinki’ve ever spoke to a thousand people before, at least not through a webinar. becky: and now, it’s up to 1,100. gregg: eleven hundred? becky: while you’re opening this up, i just wantto mention that intuit, which donates the quickbooks

premier through techsoup has recentlyopened up their program to make it available to religious organizations and churches, mosques,temples. so if you’re joining us from one of those types of organizations, know that thatdonation is now available to you as well. so it’s very exciting because it really brings itto a whole new category of organizations out there doing good work. so on with the show, gregg.thank you for letting me interject there. gregg: ok. so let’s get to some meat, ok? we like to talk about the details here. so here we are in the sample file and again,that’s what i want you to start with is playing around in the sample file. and this is thedesktop edition and i do want you to see how completely different it looks than theonline edition. let me go to the online edition.

here’s the online edition. look at thisversus that – very different. all right? so here comes the desktop edition. so thefirst thing i want to do is get you comfortable with the screens. all right? so whatwe've got here – move this out of the way – what we have here is the verytop bar is called the “title bar.” and the “title bar” is telling us two things.the first thing it’s telling us is what version of the program we’re in. as i told you, i’m usingquickbooks premier nonprofit 2015. all right? but the other thing it’s tellingus is what data file we are in. we are in a company file or data file, i’m callingit, synergy now. so let me just stop for a second and explain something to you. you know howin microsoft word where you have the program

word, but then, you have multiple documents?the same thing is true with quickbooks. if you have quickbooks, you have aprogram, but then, you have your data file. these are two separate things. all right? which – what i’m trying to tell you is you may have more than one company thatyou’re working in. you may have three or four organizations. i’m an accountant and ihave like 50 or 60, ok? and it’s free. when you get the desktop version of quickbooks,you can run more than one company file. all right? how many people are running more thanone company file? just chat me up. i can’t see the chat, but becky can tell me. if you’re running more than one company file, say something or put the number. i’m curiousto see. i’m sure there are a number of people

that are doing it. so the thing aboutthis is if you have more than one company, you probably want to make sure you’re in theright company, which is why the name of the company is here. ok? if you are running more than onecompany – you know, i should say this first – when you open up quickbooks, all right,what it does is it opens up the program and then it opens up the lastdata file that you were in. ok? and they do that because mostpeople only have one data file. but if you have more than one data file, like ido, then, it’s going to open up the last data file you’re in. if that’s not the data file youwant, you click “file”, you click “open company” and you browse just like you would inmicrosoft word to where your other data file is.

and so, here’s all my data files. we’regoing to be using some of these today, and then, i’ll click “open”. becky: so, gregg, we had about – probably 40or 50 people chat in that they run two or more companies. i think the most i saw was somebodylisted that they ran 10 and another person said six, but lots of twos and threes, so lots ofpeople are running multiple companies. gregg: a lot of times you’ll have a nonprofitthat has like a membership association that’s a 501(c)(6) and then you’ll have acharitable arm, which is a different organization, which is a 501(c)(3) that can collectdonations that are tax deductible. so i’m not surprised that i see this, so thatmakes sense. let me get rid of this here.

all right. so, let’s see. so that’s the titlebar. everything else you see on this screen is basically the different waysof getting around in quickbooks. in other words, i’ve opened up the program,i want to write a check, how do i get there? well, there are three screens to do that in. there’s the homepage right here, which is a flowchart of the major tasks that you’d like to perform. all right? if i want to write a check, i click “write check.” i click it and a pictureof a check pops up. notice the check number. it’s check number 1,004, so don’t forget that. ok? there’ll be a test later. all right. so that’s one way ofgetting around the homepage. the second way of getting around is this baron the left. this bar is called the “icon” bar

and it is going to give you shortcuts to majorthings you want to do also when you scroll up and down to get to the list. here’s the check here. iclick on it and notice that the same check popped up, check 1,004. just kind of highlighting theseare different ways to get to the same place in the program. does that make sense? i hope so. i’ll assume the answer is yes. i’ll also assume that you all love me. allright. so, anyway, that’s the second way of getting around the “icon” bar. now, the “icon”bar, you see how it takes up a lot of space? well, look at this arrow. if you click this arrow,you can move it, so it doesn’t take up as much space. the other thing that you can do if you don’t like itis, if you click on view, you can move it to the top – top icon, instead of left. i’ll clicktop and now it appears on the top.

the reason why i like to do that is because,guys, this is what quickbooks was like for years. it was on the top. they only changed it to theside recently. i’m old school, so i like to have it on the top. so i’m going to teach on the top forthe rest of the seminar. i hope you don’t mind. you have no choice in the matter. all right. so – anyway, so that is two of the three ways of getting around – the homepage and thenthis bar here, which is the “icon” bar. that leaves this thin bar up top. that’s thethird way of getting around and somebody chat and tell me what the name of thatis. i like some participation here. so, becky, does anybody know whatthe name of this thin bar up top is? becky: i am waiting forresponses. somebody says menu

gregg: there you go. we’re good. becky: taskbar,ribbon.lots of guesses here. gregg: yes. i like the name taskbar. that’s that thing down here at the bottom that has to do with your – with your operatingsystem. so this is actually called the menu bar. and the menu bar gives you absolutelyeverything that quickbooks does. ok? so if you’re a new user, start by using thehomepage because it keeps you doing stuff in the right order because it’s like aflowchart thing. once you get good at quickbooks, you can use the menu bars. so what i’mgoing to do here is i’m going to go – they’re organized by area and the menubar has you – gives you everything.

i’m going to go under “banking”. that’s where i’ll find “write checks." i click it and it’s the same check number – 1,004.ok? so now, you’re comfortable with the screens. you got the homepage, you got the big fat iconbar and then you got the menu bar over here. now, just for the online users – and goahead and chat me up if you’re an online user just so i know if there areany. i think there are a few. you guys, you don’t have a nice little flowchart.where you’ll go to do most of your stuff is this little plus sign up here. thinkabout this – if i want to add a transaction, you’ll go to the plus sign and here’swhere your check is – right there. ok? so, anyway, i’ll go back to the desktop.

all right. so homepage, big fat iconbar, menu bar, title bar. that’s it. the only other thing i didn’t discussis this junk over here on the right and i call it junk because it’s not reallythat big of a deal. it gives you some balances, unlike your bank accounts andyour receivables and payables. the rest of this is an advertisement. yousee where it says "accept credit cards." well, quickbooks has an incredible merchant service,by the way. but, you know, if you click this, this is going to take you whereto go to sign up for the service. so, if you’re new to quickbooks andyou – you’re feeling freaked out – you can just move this off thescreen and then you’ll feel better.

so that’s basically everythingabout getting around in quickbooks. so now that we’ve done that, i think i’m going togo ahead and show you how to set up your company. all right? so i’m going to go to “createa new company”. so that’s pretty obvious. ok. so i’m going to go aheadand click it. and click “yes”. and it’s really easy to create a new companyfile in quickbooks. it’s really, really easy. i should tell you – remember how i said you couldhave more than one company file in the desktop version and it’s free? if you havethe online edition, it’s not free. you’ll need to pay for each additional companythat you’re going to have in quickbooks. so, anyway – so let’s set up your business, answersome basic questions and we’ll do the rest. ok.

so i’m going to click “start setup” and this isgoing to ask a few questions – my new nonprofit. now, it may not be a new nonprofit,but to quickbooks it’s new. all right. now, the only fields that need to be filled outreally are the ones that have a little red asterisks next to them. but anyway – so you put yourbusiness name, then you put your industry. now, let me just give you a little help here.at this point, you’re going to be trying to type your industry. i’m a theater. well, when you press“tab”, it’s going to say “invalid industry.” ok. so, like, what do they call it? maybe it’s aplayhouse, you know. you’ll go drive yourself crazy. let me just tell you, there’s a certainset of industries that you got to pick from, so do yourself a favor and just clickthis “help me choose”. when you click it,

it’s going to give you a list of the industriesthat quickbooks wants you to pick from. there are going to be two of them that relate toyou. and look at this, becky, there’s one here for church and religious organizations, so that’skind of cool. and then, if you’re not one of those, then you’re going to be nonprofit. sothose are the two that you’ll choose. ok? now, why did they want to know what industrywe’re in? the reason why they want to know what industry you’re in is becausethey’re going to give you a set of accounts based on the industry. ok? the accountsfor a nonprofit are very different than they are for a manufacturer. and i’m goingto show you how to set up accounts in a little bit, but they don’t want you to start with zero. they want you to start with something,

so they’re going to give you some accounts.these are the accounts that you get when you’re nonprofit. they’re not going to beperfect. you’re going to want to change them, you’re going to want to add to them,make them be your own. all that’s cool. we’re going to learn that in a minute, but at leastpick this so that at least you have a starter set, ok, that you – then you can workwith. so i’m going to click “ok." business type – now, listen carefully, guys. listen to me. you’re going to want to – you’re going to want to put nonprofit becausethat’s what you are. don’t do it. ok? here’s why. the reason why they want to knowwhat your company type is, is so that it knows what tax return that the company files. andthe reason why that’s important to them is,

if you are an accountant and you havepurchased the tax software from intuit and you’re going to do your own 990, then thereis an export feature that’ll export from quickbooks into your tax software. now, you’re not going to do your own taxes 9 timesout of 10. even if you are, are they going to be – is it going to be the tax softwarethat you buy from intuit? probably not. and even if it is, are yougoing to want to use the export? i don’t use the export because there’s issues. it works ok, but there are certain things that don’t export. we’ve just decidedthat it’s easier not to use the tool. so you’re not going to be using the tool, sothere’s no need to check what company type you are.

if you check “nonprofit” what it’s goingto do is, every time you create an account in your chart of account – its accounts list – it’sgoing to want you to tell it what line on the 990 that account is supposed to exportto. you don’t know that, right? and you’re not doing your own 990 anyway, soforget about it. so just click “other” or “none," click “ok” and you’regood to go. all right? so that’s really all that i have to put. i’ll goahead and put a couple of other pieces of information, put my id number here. if you don’t have it yet,you can leave that blank. you can fill it in later. you put your business address here if you want to.and, let’s see. this is – this is actually kaydee – the one who’s helping us. this is herhome. so feel free to show up at her house

if you have any questions andshe’ll be glad to help you out. i’m kidding – hopefully. let’s see. becky: yes. nobody shouldreally show up at kaydee’s house. gregg: everyone should showup at kaydee’s house, everyone. becky: party at kaydee’s. gregg: let me give you herphone number. all right. becky: she’s a hero on the backend. she’s really answering a million questions, so thank you so muchfor doing that, kaydee. gregg: that’s great. that’s great. now, ofcourse, she has no idea what she’s talking about,

so none of the answers are correct. butthat’s why she’s so quick at it and good at it. but anyway – all right. becky: you’re bad, gregg. gregg: i know. i’m really bad. createcompany – so i’m going to create the company. and literally, guys, that’s all youhave to do – just create your company. at least this is part one of creatingyour company. it’s creating that file, kind of like creating that word document. andall you did was give it some basic information, tell it what industry you’re in so it cangive you a chart of accounts to start with. and here is our new file.

and if you look up – well, before we do that,there is a little bit of an advertisement here. it’s about to pop up. there it is. more thingsthat you can buy. you can get paid faster. that’s the merchant service to quickbooks,which is really good. here’s the payroll service through quickbooks, here’s buyingyour checks from quickbooks. so i’m just going to go and click “start working."and, if you’ll notice, there are these kind of – i cannot stand this color. i don’t want – whatdo you call this? taupe? camo? i don’t know. anyway, so these are giving you littletips on what’s new in quickbooks, but if you’ve never used quickbooks before, thenknowing what’s new in 2015 isn’t really helpful to you, anyway. so i’m just going to goahead and dismiss this and you’re going to get

how to use this from me, sodon’t worry about it. all right? becky: hey, gregg. before you move forward,i had a bunch of people in a row ask – can you change your business typeif you’ve already set up the company, if you’ve put in somethingelse and you want to nonprofit are you able to go back and change that? gregg: ok. let me just explain this to you. thequestion is, can you change your business type? no, you can’t. but, indeed, it’s irrelevantbecause the only purpose of changing your industry – of putting an industry in is so it gives you a chartof accounts list. so you’re going to change that list anyway to make it be your own andwe’re going to show you how to do that.

now, if you – if you absolutelywant to start with a nonprofit list, then go ahead and set up a new company –then, you’ll have to set up a new company and go through the interview. but i don’t think you need to. just take whatever list you have in the chartof accounts list. i’ll go over to lists > chart of accounts, and work on changingit to make it be what you want it to be. all right? and that’s what we’re going totalk about next. ok? well, almost next. before i get into that, i need todo a little accounting lesson for you so that you can understand about accounting.ok? so let me just explain something here. so listen carefully. hopefully, you’re listening.

anytime you go into quickbooks and yougo and enter something in quickbooks, it’s going to be in one of two categories ofstuff. ok? either the thing that you’re entering is going to be something that’s in one of the listsin quickbooks, like the chart of accounts list. maybe you want to add a new expense accountor maybe you want to go into the customer list over here and enter a new donor or memberor student. so those are list things. and that’s one thing that you’re goingto do and we’re going to set that up now. the other kind of category of stuff that youenter when you’re in quickbooks is transactions, like a check or a bill or a deposit,what have you. ok? the reason why people don’t get good reports out of quickbooks,and that’s why you’re here – you want to learn

how to get good reports out of software.it’s not because they don’t know how to enter transactions. it’s real easyto enter transactions in quickbooks. i mean, here’s a picture of thecheck. you just fill it out. well, you have to open up the bank account first.but the reason why people don’t get good reports is because they never set their lists upcorrectly. and the most important list of all that you need to set up isthe chart of accounts list. so what we’re going to do iswe’ve set up a new company file, but we really haven’t really finished up settingup our company so that we can start using it. so i need to give you just a little accountinglesson. so i’m going to go over to another data file

and i’m going to give you a little accountinglesson. it’s going to take about three minutes. i promise it’ll be painless, kindof like a spinal tap is painless. and to those of you that don’tunderstand about debits or credits, this is going to be very helpful to you. all right? so the whole purpose of accounting is to create two reports. what arethose two reports? somebody chat me up and tell me what those reports are, becky? whatare the two reports that accounting are all about? becky: profit andloss and balance sheet. gregg: there you go. profitand loss is one of them. becky: yes. even i knewthat one. that’s exciting.

gregg: and then, the other oneis called the balance sheet. ok? so these are the two reports that make upyour entire purpose of doing accounting. the whole purpose of accountingis to create these two reports. the balance sheet gives you a snapshot of whatyour organization looks like at a point in time. this was june 30, 2020. think of it likea camera, like somebody took a picture and it’s made up of assets; that’s all thestuff you have, like the money in the bank and your fixed assets and stuff – it’s made up of allthe money that you owe; that’s all your liabilities – and then, the difference, whichis equity. so the balance sheet gives you a real good picture of what you looklike at a frozen point in time – how much you have,

how much you owe and then the difference. andyou hope that the difference is a positive number. you hope that you have more than you owe.anyway, the other report is a profit and loss. profit and loss is more like a movieof transactions over a period of time. this is for one month, the month of june. ok? and you can actually change this date. i can make it this fiscal year and this is what mostpeople are used to when they think of financials – the profit and loss. it’s made up of all the moneycoming in over that time period, that’s income; all the money going out,that’s expenses. ok? so these two reports are all that accountingis about. the balance sheet shows you what you look like now, the profit and loss givesyou a movie of transactions over a period of time.

ok? accounting, the nuts and bolts– listen carefully. this is it. this is where the rubber meets the road here.all accounting is is entering transactions so they get to these two reports. everytime you enter a transaction, even a check, it gets on these two reports. and it gets thereby going through one of the lists in quickbooks and that list is the chart of accounts. the chart of accounts is the backboneof your entire accounting system. every single transaction that you enter hitsat least two accounts in the chart, maybe more, but at least two. and then, the lines on this chartare the very lines that make up the balance sheet and the p&l. ok?

so if we enter a check, it hits at least two accountsin the chart; one is the bank account up here. i could have picked savings, but i didn’t. i picked checking. the other account is whatever the expense account isthat you pick here. i’ll pick rent. when you go to the chart of accounts list,you will see here’s the checking account and if you scroll down to wherethe expenses are, here’s rent. so every single transaction hitsat least two accounts on the chart. and then, the lines on this chart, guys, they arethe lines that make up the two financials. ok? you see how on the balance sheetit says, “checking, savings” and then “membership receivables?"where did that come from?

chart of accounts – checking,savings, membership receivables. so these accounts are broken up into differenttypes. we’ll talk about the types in a minute. but every single type that is equityand above appears on the balance sheet. every single type that’s belowequity appears on the p&l. so what do we got here? individualcontributions, corporate foundation grants. a little over here – individualcontributions, corporate foundation grants. so you see, since the chart of accountsdetermines what these financial statements look like, it’s your most important list ofall. ok? and we got to get this set up right and that’s what we’re going to discuss. allright? because you’re going to print out this p&l,

compare it to a budget and give it tothe board of directors once a month. you also should give thema balance sheet. all right? so having said that, let’s go back over toour other data file and let’s take a look at the chart of accounts that they gaveyou, and let’s talk about how to make that into the chart of accountslist that you should have. so we’re going to talk about what yourchart of accounts list should look like. i’m going to go over here to “view” and move this tothe top because, again, i like it up top. all right? that doesn’t sound appropriate, but anyway. soi’m sure if somebody thought that. all right. so we’ll go to “reports” – actually, we’lljust go to the chart of accounts list.

so here’s the chart of accounts list. now, the firstthing i want you to notice is that these accounts have numbers. all right? you don’t haveto use account numbers if you don’t want to. the reason why some accountants like to usenumbers is because it makes it easier for them perhaps when they’re key punching becausethey can type a number instead of a name. well, account numbers are not necessary. i don’t care for them because every time you create a new account you have to tryand figure out what number it should be so that it gets stuck in the right place inthe chart and it’s a pain and it’s not useful and the number show on reports. so whati’m going to tell you to do is go to “edit." you don’t have to do this. go to “preferences." preferences are little features you can turn on

or off in the program. i’m going toclick it. i’m going to go over to – and these are the preferences. there are so manyof them. they’re broken into different categories. here’s the general category and a bunch of stuffhere and checking and a bunch of stuff here. but you go to “accounting," you go overto “company” and i’m going to click – you see where it says “use account numbers?” i’mgoing to uncheck that. i’m going to click “ok." now, the account numbers are gone. allright? so it’s time to finish setting up the chart of accounts. now, thefirst thing i’m going to tell you is that even if you don’t know anything aboutwhat you’re doing, you probably have figured out that you need to create an account for your bankaccount. all right? so let’s go ahead and do that.

so that would be the next step in theprocess after you set up your company is you would add your bank account. soi’m going to go over here to “accounts” and i’m going to click “new” and this is howyou add an account. i’m going to click “new." now, it’s going to ask what the type is. the typesare really important when you’re creating accounts. if you pick “income," that’s going toappear on the income statement or the p&l. so it’s very important that youunderstand when you create an account, you understand what type it is. if you don’tknow, talk to your accountant or bookkeeper. these account types are second natureto accountants or bookkeepers, ok, or the person doing your 990. now,quickbooks tries to give you some help

by saying, “ok. income accounts, thosecategorize money from normal business. we want a bank.” so we’re going to click “bankaccount” here. i’m going to click “continue” and then i’m going to name it. and what i usually do – you can name it what youwant. i usually name it the name of the bank – wells fargo, i’ll pick – and then, checking. ok? now, the rest of this stuff that’s here the description, bank route, bankaccount number, they’re optional. ok? some people get into this thing where you feel likeif there’s a field, if you don’t put something in it, you’re going to die. ok? don’t worryabout it. this is quickbooks made easy. all you do is pick the type, name it and you’regood to go. ok? so i’m going to click “save”

and “close." and now, you understandhow to create an account. all right? so before i go any further with what youraccount should be and how to create them, there is one point that i need to make. all right? ok. listen very carefully. what you’ve got to decide before you start settingthings up here after you’ve created the company is you have to decide when you’re going to startusing quickbooks to track your transactions. so today is february 26. so when are we goingto start using quickbooks to track our stuff? well, if your year end is december 31 of2014, then i think that’s a really good day to start using quickbooks, january 1,2015 ,because then you’ll have a whole year of transactions in the same place. all right? andyou’ll only have to enter like a month and a half

to get caught up. now, if your year end is june 30,then if you say, “i’m going to start as of july 1,” that would be july 1, 2014. now, yougot eight months of transactions to enter. but, guys, i don’t know that that’s such a badidea because it’s going to help you get good at quickbooks to enter thosetransactions to get caught up. now, if you’re saying, “gregg, you’reout of your mind. i’m not doing that.” then, you can pick any start date that you wantto start using quickbooks, but make it at the end of a month. please make itthe last day of the month. ok? so we’ll say that – well – and actually,there’s one more thing you got to do. when you pick your date, say, we’re going topick june 30, you have to get the opening balances

on your bank account and yourother accounts as well. ok? so, to do that, you have to go to your accountantor your bookkeeper and get the financial statements from that start date. that’s why i wantyou to make it at the end of the month because financial statements areusually as of the end of the month. so i have a little start date or a little balancesheet that i got from the former accountant or whoever it is who does my books saying,“ok. we’re starting june 30, 2020. i asked them to provide me with this balancesheet and it gives me all the balance sheet accounts with their openingbalances.” so you’ve got to have that before you finish setting up. you've got to decide the start date

and you got to get the balance sheet. or somepeople get another report called a trial balance that will give you all of the balance sheet accountsand what the opening balances are. all right? so, once you have that, go back intoquickbooks. see the checking account? do you see how there’s a zero balance in it? ifyou just started entering transactions as of july 1, your bank balance would never be right becauseit didn’t have the opening amount in it. so you’ve got to enter the openingbalance. so we go over here and we say, “ok. well, the opening balance is $43,440.” ok. that sounds good. so then, we go back in to where we – we’ll just edit the account towhere we set it up. and you see this button that says “enter opening balance." theonly time that you will ever use this button

is when you’re first setting up quickbooks, whichis this seminar – what this seminar is about – this webinar. so i’m going to goahead and click “enter opening balance." and it asks me a question. it says,“enter the ending date and the balance from the last bank statement you receivedbefore the quickbooks start date." all right? so, all right. so it wants the bank’s statementbalance on the last statement before the start date. so the quickbooks start date is the date thatyou’ve decided. ok? it’s not something you put in quickbooks. this is the date that you decide inyour head. “ok. i’m going to make it june 30, 2020.” so because i made it june 30, 2020, thelast bank statement was on that exact same day, june 30, 2020. so i’ll go in here to thestatement ending date, june 30, 2020. beautiful.

then, they want you to put thebalance. now, listen very carefully. they do not want you to put the balance that’son the balance sheet when it comes to the bank account. that’s $4,344. theydon’t want you to put that balance. what they want you to put here is thebank statement balance. all right? so i’ll go ahead and look – literally lookat your bank statement for june 30, 2020, look at the ending balance and youtype it. and then, you click “ok." and then, you click “ok” again or saveand close. so now, it has a balance in it. now, the next thing you might be wonderingis, “gregg, something’s weird here because that’s not the right balance. thissays $40,000. that’s the check book balance,

but yet, my balance sheet that i gotto enter opening balances from has 43. why is it different?” somebody chat meup and ask and tell me why it’s different. this is a really important point. becky,anybody got an idea why this balance is not the bank statement balance? becky: we have people saying that we need toenter transactions, there’s outstanding checks that need to be reconciled. gregg: perfect. that’s it. so basically,it’s because there are outstanding transactions that have to be entered. now, you may think yoyourself, “well, then, why didn’t we just enter the check book balance here? why didn’twe enter the bank statement balance?

then, it really would be the right balance.”you know why? because if we don’t enter the outstanding transactions separately, then wecan’t do a bank rec because the very first month, july, when we try to do a bank rec, we won’t havethose outstanding transactions listed separately so we can’t check them off. so inorder to do a bank rec properly, you have to put the bank statement balance. then – and you guys are exactly right – you go into the program and you enter theoutstanding transactions as of their original date. ok. i’ll just put something here. i’ll make thecheck to me. actually, no. i think it was a deposit. yes, it was a deposit that hadn’t cleared, solet me go ahead and go into the “deposit” window. “make deposits," that’s always better. instead ofa check not clearing, it’s the deposit that needs

to be entered. all right. so i will just put $3,000 here. there. so now, this says $43,440. and we’llgo back here and this says $43,440. got it? so you will need to enter the openingbalance for every single account that you have on this balance sheet. all right? now,you – most of them, you won’t have to enter like a bank statement balance, like prepaidinsurance. you’ll just enter whatever the number is as the opening balance. you won’t have to do thatweird thing like we did with the bank account, but the bank account’s weird, so i neededyou to see that. but you’ll need to enter the opening balances for all the accounts. ok? so i think that’s all i want to say there. and then, i want to spend the rest of the timetalking about what your accounts should be.

all right? so when it comes to thebalance sheet, this is basically a good list of what your accounts should be. now, you’llget your own balance sheet from the accountant and that’ll be obvious. it’ll tell you what youraccount should be. but, in general, for nonprofits, you’ll need to have one accountfor each one of your bank accounts; you’ll need to have an account – let me seeif i can get this arrow showing. i don’t know. becky, can they see this arrow? can you see this red arrow, becky? becky: yes, i see it on my screen. gregg: awesome. ok. so there’s the checking andthe savings. if you invoice out of quickbooks, and only if you invoice out of quickbooks,you might need a receivable account. ok?

for memberships receivable – here i have grantsreceivable. it could be tuitions receivable if you’re a school, pledges receivable ifyou want to track pledges in quickbooks. you may need a prepaid account if youprepay for something ahead of time, like say the year is june 30 but in maywe pay the whole next years of insurance. we don’t want to expense it immediately. we want to point it to this prepaid insurance asset account and then expense itover time, so you might need that. furniture and equipment – if you’re a smallorganization, you’ll just need one that says “furniture and equipment." if you’re bigger, youmight have one for furniture, one for equipment, one for land, one for building, onefor cars. ok? those are the main ones.

everyone is going to need an accounts payableaccount. but, don’t worry, the first time you enter a bill in quickbooks,quickbooks will create that account. if you have payroll, if you issue w-2s to anybody,regardless of whether you’re using quickbooks payroll or not, you do need a payroll liabilitiesaccount. and then, you’ll need an account for any loans that you might have. sothose are your basic balance sheet accounts. not a big deal. people don’t screw those up verymuch, but i will tell you what people do screw up is their income accountsand their expense accounts. so i’m going to go back into quickbooks and let’stalk about what your income accounts should be and what your expense accounts shouldbe. now, quickbooks gave you a set

of income accounts. i’m going to tell you rightnow, they’re not going to be perfect for you, so you are more than invited to getrid of the ones that you don’t want. so i can just click on one, go to the bottom leftand click “delete," click “ok” and it goes away. and i can click on any of these that i don’twant and click “delete” and it makes it go away. now, i need to help you decide whatyour income accounts should be. ok? and this is important because people screwthis up. so i’m going to tell you the right way of entering, or what your income accountshould be and they’re not necessarily what quickbooks gives you. ok? so whati’m going to do is i’m going to open up another data file where peoplehave – that shows you the wrong way.

that’s really the best way of teachingyou what your income account should be is to show you what the wrong way is of doingit. so i’m going to go over here to “reports” and i’m going to run a little p&l here and allright. so the first thing here, here’s the wrong way – again, wrong way of doing this. i should probablychange the header. some people – wrong way. so if you’re not listening to me and you justlook at the screen occasionally – all right. so you should be listening to me. you know, i’mgoing to be singing later, becky, did i tell you? all right, anyway. becky: i can hardly wait. gregg: it’s going to be a show, let me tellyou. all right. so do you see this top line

"restricted grants?" if you have restricted grants,chat “restricted grant." type it in. i want to see. i bet you there’s a lot of people that haverestricted grants and becky you can tell me in a minute if there’s a lot of people thatdo. but if you have a restricted – if you have restricted grants, the most importantthing you got to track about it is how the money was spent. if you have an income accountthat you’re pointing restricted grants to, that doesn’t tell you how the money wasspent, so it’s not helpful, so don’t do this. don’t have an account thatsays “restricted grant." the other thing is it makes itcomplicated when you’re doing data entry. if i get a grant that’s restricted from a foundation,i don’t know whether to put it to foundation grants

or restricted grants. if you've gotmore than one person entering this stuff, some people put it here, some people putit here. it’s complicated. don’t do it. the other thing is, you see how i have aseparate account here for the green truth grant and the united fund grant. don’t do that,ok? don’t set up a separate income account for each grant. there’s another place totrack who gives you your money in quickbooks. don’t use the chart of accounts forthat. the biggest mistake people make when they’re setting up their income andexpense accounts is they use the chart to track absolutely everything under thesun, which means they have a lot of accounts, which means the financial statements that theygive to the board are four or five pages long,

which means the board doesn’t read them,which means they don’t know what’s going on. maybe that’s what you’re trying for. i don’tknow. but if they don’t know what’s going on, later on when there’s a money issue, guess who’sgoing to be blamed? you, for not telling them. so what we want and what i teach in my trainings,both live, as well as on the training products is showing you how to create aone-page p&l compared to budget that’s easy to read. i’ll give you a page and a halfif you have to, but no more than a page and a half. ok? which means you don’t want very manyaccounts. so do not have restricted grants, do not have this separate onefor each one of your grants. so what do you want? let me tell you what it’ssupposed to be and this is true for everyone

that’s listening to me, ok, everyone of you. wow, i made it bigger. is that ok? becky, can they see that? becky: yes. it looks great. it’sjust zoomed in at that top section. gregg: yes. so i want you to have one forindividual contributions, one for corporate grants, one for foundation grants and one for governmentgrants. you might have a fifth one for churches and religious organizations if youget money from churches, but that’s it. why do i want it broken up this way? becausethat’s how i have to have it on the 990. that’s how i have to have it on the audit andit’s a really good way to see where your money is coming from. a nonprofit should be tryingto get some of their money from individuals,

some of their money from corporates, foundations,governments. you want to have a nice split. ok? then, you’ve got your earned income,money for services that you provide. some of you may be membership associations,so you’ll need a membership dues account. i just set up a generic thing called programfees, but you would want to set up one related to whatever fees are for maybe youhave workshops, so it’d be workshop income; maybe you’re a theater, you have ticketsales; maybe you’re a school, it’d be tuitions. but you want to have general over headingsfor the types of services that you provide. don’t get too detailed here. there’s other placesto track the details. we'll talk more about that in next week’s webinar. ok? then, we haveone for miscellaneous and one for interest

and not very many accounts. ok? so that’s the income account. now, when it comes to the expense accounts –let me hide this for a second – expense accounts people really screw up. ok? and it makessense. let me just talk about this for a second. well, you have no choice in the matter, butanyway. regular businesses that aren’t nonprofits, the only real way they have to worry abouttracking their expenses is the natural category of what the expense was. in other words, is itfor salaries or payroll taxes or equipment rental or postage or printing or contract labor, whatever. these are the natural categories of expenses, the natural way of thinking about expensesand that’s what most businesses have to do. nonprofits have to do that. every time they entera check you've got to tell it what type of expense

it was, but in addition, you've gotto place it in one of three buckets. every nonprofit has to know whetherthe expense is in one of three buckets. anybody know what those three bucketsare? becky, let’s see if anybody knows what those three buckets are that nonprofitshave to worry about kind of grouping their expenses under. becky: i see people writing managementand general, admin fundraising, management fundraising programs. gregg: there you go. we got it. program,admin, fundraising. funders want to know that most of your money is going forprogram. so every time you enter an expense,

you have to tell it what program it relatesto, and if it doesn’t relate to a program, maybe it’s admin or fundraising. now, what peopledo that is wrong – this is wrong, ding, ding, ding, this is wrong – is they will use theexpense categories for their programs. so if you see here – and i’ll go ahead andzoom this again since that worked so well. all right. this organization is called synergy nowand the organization is all about getting the country on to environmentally-friendly formsof energy. we have an aware campaign and a synergy conference and a guidancecenter. those are the three programs that support their mission. well, whatthis person’s done, which is wrong, is they have created expense accounts foreach program thinking, “well, i've got to know

how much the program costs.” well, don’tdo that. again, it makes things confusing. if i write a check for postage for the synergyconference, i don’t know whether to point it to postage or to synergy conference. the otherthing is, they will typically only put direct expenses to the program. what’s the biggest expenseof your organization? probably payroll. and payroll – they’ll say, “well, i’ll just putit to salaries.” so you see how they’re mixing the program admin fundraising grouping, they’remixing it and then they’re additionally putting the natural category in the same list. so wedon’t want to do that. it makes life complicated and, furthermore, it makes it look like youdon’t spend very much money on your programs because all your indirect costs, like salaries,you don’t put there. so don’t do this.

so what you’re supposed to do – letme scroll down here to hide this – is you want to make your categories, yourexpense accounts, you want to make them be the natural category of expenses; salariesand wages, health, insurance, rent, postage, printing and reproduction – natural categories. there’s no right or wrong answer here. whatever level of detail you wantis fine. it’s up to you. all right? some people, they just have oneaccount for repairs and maintenance. here, we’ve separated that by building, computerand equipment. it just depends on the size of organization and what the board wantsto see. so don’t worry about it. ok? so natural category of expenses.so if that’s – that’s interesting.

that’s said “severe error." ami still up on the screen, becky? becky: yes. i still see your screen. gregg: ok. that’s a good thing to know. all right. so what that leaves is – and we’re kind of rounding home here –is that’s your chart of accounts list. that’s how – that’s what it should be. the expenses should be the natural category. so where do you put your programs, then? all right. so where do you put your programs and i’m just going to go over to “lists” here – isyou want to put your programs in a different list in quickbooks, the class list. here’s the class list right here. ok? so this class list is a feature that you may needto turn on. so to turn it on you go to “edit,"

you go to “preferences” and yougo to the “accounting preferences," you go to the “company” tab, you click“use class tracking," you click “ok” and then you’ll be able to set up your classes. we go to “lists” and we go to “class list." so for each one of your classes oryour programs, you set up a class. so we have one for the guidancecenter, one for the synergy conference, one for the aware campaign. to set up aclass, you go to the bottom left-hand button, you click “new” and we’lljust put “new program." ok? now, every single one of you that are listening tome will also need to set up two additional classes, one for your admin cost and one for yourfundraising. so if you’re a small organization,

maybe you only have one program. so then,you’ll have three classes; one for fundraising, one for admin and one for your program. in this case, we have three programs. so once you set that up, then things getreally cool. when you enter a transaction, not only can you tell it the natural category ofexpense, postage, but over here in the class field, you can say what program it related to – guidancecenter. and yes, in case you’re wondering, you can break an individual check upand split it between different classes. and you can do that for the incomeaccounts as well for income, like deposits. and as a result – now, this is going tobe – this is going to blow your mind here. so what i can do is i can do a p&l. let meswitch to a different – i’m going to switch

to a better data file here. becky: yes, gregg, i was going toask. we had a couple of people saying, is this still the wrong way or isthis the right now – right way now because the top of thepage still says “wrong way”? gregg: i know, i know. so i need to switch– yes. so i – yes. the right way is to do becky: you have beenshowing some right ways. so, gregg: yes. the – just to repeat to make surethat i’m not confusing you is that the right way of entering your expense accounts is to – and i’lljust pull up a little p&l here – is to use this for your natural categories; salaries, payroll taxes,health insurance. you want – that’s the right way.

and you want to use the class list to set up yourprograms. and then, once you enter transactions and you point them to the classes, as well as tothe expense accounts, you can do a p&l by class. now, i’m going to blow your mind if youhaven’t seen this before. are you ready? i’m going to click it. what you’vegot here is a beautiful report. it’s a nice column for each one of your programswith an additional one for admin and fundraising and then a total. it’s a beautiful thing. now, you may not give this to the board, but it’s going to be awesome because you’llbe able to see how much each program costs, how much you’re spending on admin andfundraising, whether or not a program is paying for itself. and this very reportis how i have to enter the expenses on the 990

and it’s also how i have to report it on theaudit. so it’s a – it’s a beautiful thing. so let me go ahead – i’m going to takeone question, two questions right now. we’re going to do a ton of questions, but iwant to go ahead and take one or two questions since this was such an important point. is there anything becky, that pops out? becky: yes. well, we had a couple of peoplejust confused on how you got this to show up. so where did thiscome from when you just gregg: the report? ok. so what you do is you goto “reports," you go to “company and financial," and then instead of doing a standard profitand loss, you do a profit and loss by class. so that’s how you do it. all right?

becky: great. we also had a bunch of people askingabout – “if i’ve set it up already and i didn’t use classes, can igo back and add that?” gregg: yes. what i would do is i would createyour classes and then, if you want to repoint the transactions, basically, gointo each transaction and classify and you can certainly do that. an alternativewould simply be to start doing it going forward and after a little bit of time, you’ll be caught up– you’ll have a whole year’s worth and you’ll be fine. so you have to make thatdetermination. so let’s do this. becky: and are there sub-classes too? gregg: yes. you can use sub-classes if youwant to. what some people do – see, now,

i’m going to go crazy – is they’ll createa class – let me see – called programs. and then, what they’ll do is they’ll makeeach one of these a sub-class of programs. and you can do it that way, or where you seethe little diamond, you can click and drag and just make it a sub-class. andwhat that does is, when you do a report by class – let’s do that again – p&l by class –then, you’ll get a subtotal of all your programs, so that’s kind of nice. but yes, you addsub-classes like that. so let’s go ahead. becky: sorry. i was just going to say, forpeople who want to know more about classes too, we’ll be pointing to a blog post that’sspecifically on classes and can give you a little bit more information after this webinar. so when you get the follow-up e-mail later today,

there will be some more details about how to dothat in addition of what gregg has pointed out. gregg: cool. so the only other thing thati want to point out is how to enter a budget. so that’s the last thing – well, that’sthe main thing that i want you to set up after you’ve entered youraccounts and your classes. to enter a budget, you go to “company." and bythe way, you can do this no matter what version of the software you have. if you have theonline edition – i should have said this – if you have the online edition, in order to usethe budget feature and to use the class feature, you have to have the plus versionof the online edition. all right? but anyway, i’m going to go to “company,"“planning and budgeting," “setup budgets."

the first time you go into the screen, this iswhat you’re going to see. it’s going to ask you what year you want to enter a budgetfor. it will do it for 19 and 20. they want to know do you want to enter a budgetfor the profit and loss or the balance sheet. i’ll do p&l. it’s really easy. then you cando either a budget for your entire organization, which will be no additional criteria;or you can do a budget for a program, which means you’d pick class. you caneven do a budget for restricted grants, which means you do customer job. now,we cover this more in my full training, but no additional criteria is thebear bones, what you definitely need is your organization-wide budget. ok?so what you get is a window with a column

for each month. and then, what you want to do is– well, what these rows are, these are the accounts that are in your chart of accounts listfor your income and expense accounts. so you want to get the budget from whatever thecommittee is that created it and stick it in here. now, i know that’s fantasyland. you’re theone probably doing the budget, to begin with. but if somebody else is doing the budget,make sure to give them a list of your accounts, your chart of accounts list so that they usethose accounts. nothing is more frustrating than getting a budget from a groupof people and when you go to enter it, it doesn’t match your chart of accounts list.so if they don’t like your chart of accounts list or income expense accounts, let’s cometo agreement, then let them go away

and do the budget. now, you can either enterthe budget by month which is a bit of a pain because then you've got to put somethingin each and every column and again, there’s a lot more on this if you want a budget bymonth and the training. but if you want to budget by year, what you want to do is you want to put theentire budget in the first month of your fiscal year. you can’t type anything in this “annual total”column. this column is basically a total of the other 12 columns. it’s grayed out here. soto put a budget in, you simply open the window up, go to the screens that i showed you and then youbasically type your annual budget right in there. ok? we’ll put in a budget formiscellaneous income. here we go. so, when you’re done, you click “save," you click“ok." to look at your budget, you go to “reports,"

“budgeting and forecast." and by the way,this is where you go to look at your budget to actual report, which we’ll do next week.and then, the – but this is where you look at a budget overview. you click it. it wants toknow which budget you want to see because you’ll have a budget for every year. so you pick the budgetyou want to see, you click “next," you click “next” again, you click “finish,"and then you get your budget. now, the budget assumes that you – thereport assumes you budgeted by month. if you didn’t budget by month, you clickthe dropdown arrow, you click “total only." and then, it’ll give you your annual budget. andyou can print this thing out, give it to the board and then the board can vote on it and that is howbasically you enter your budget into quickbooks.

so i think that’s it for now. what i’m going todo is i’m going to go back to – because we got – we got a good 20-25 minutes left and we’regoing to spend a lot of time on questions. but i just wanted to pop up something for youhere. this is just a reminder of what we covered, that we use the classes for your programs. admin and fundraising, the accounts or the natural category. those are thetwo main things that we covered. what else? becky: we want to offer the option forpeople who want to hear more from gregg and who can sign up and opt in to get e-mailsfrom him. we don’t share information of attendees with our presenters even if they might deserveit. we have a strict privacy policy here. so if you want more from gregg later, go aheadand click “yes” on this and i will then give him

your info so he can signyou up for his newsletter. gregg: yes. and i promise you, what it is, it’sa monthly e-mailed newsletter and its video-based. so, basically, you get the newsletter and itgives you a little video that you can look at and it gives you a little tip. it comes outonce a month. that’s it. it’s not a big deal. but it’ll allow me to communicate with youand better for you to communicate with me because i want to be ableto keep helping you guys out. and that – so i guess i’ll – do i need towait on this or can i skip to the next slide? becky: i’m going to leave it open just fora moment because people are still responding. gregg: ok. does anybodyhave a question they want to –

why don’t we take one questionwhile we wait for those? becky: we have tons of questions. gregg: ok. pick one lucky winner. becky: and believe it or not, kaydee and davidand allyson, all these people on the backend have answered, like 135 questions already. so lots of questions, still 60 in the queue. and i’m going to show a little bit about whereyou can get the donations for both intuit products, so where you can get quickbooks throughtechsoup which gregg showed earlier. i’m just going to quickly highlight where thoseare at. and i’m also going to show where quickbooks made easy can be found.

gregg: so stay on the – stay on the line, guys,because i am going to be answering questions. so we got a little bit of housekeepingto do. i’m going to stay on the line and i will stay as long as she’ll let me – as longas she’ll let me. so you, guys, stay on the line. becky: yes. i want to be mindful oftime, but we can go over a little bit. we do have a couple of questions. so maryasks around classes, if you use the same class on an expense and an income,does it cancel each other out? gregg: no. if you use the same classon an expense and an income account, what that does is when you look at the p&l byclass, the income will be up in the income section for the class on the p&l and the expensewill be in the expense section for the p&l.

so the p&l for the class, you’ll be able toget a p&l for the class. now, the net income, sure they net each other out just likeexpenses net income. but, no, that – i’m not a thousand percent sure about what herquestion is, but it’s entirely appropriate to do that. that way you can figure out whether ornot a program is paying for itself or not. let’s take one more and then iwant to get to a couple more things. becky: yes. so florence asks, "we receivenon-cash contributions, so in-kind gifts or other types of contributions, maybe furniture,clothing or something that they distribute. should that be listed ina separate income account?" gregg: yes. first of all, you should book incomecontributions you need in income account for that.

i didn’t teach it here because this is basics. i think we may be covering that next week. you’re going to need to do a journalentry to make that happen. all right? so now, let me go ahead and i think i’m goingto stop this now, and let’s go into this. so did you want to becky: yes. really quickly beforewe launch into the full questions because i know a lot of people have to drop off atthe half hour mark. so the intuit donation program is what – they’re the company that makesquickbooks and they also make programs like quicken and turbotax that areconsumer-level products. i mentioned earlier that it’s now open to religious organizationsand churches, faith-based groups.

so if you previously were not eligible to requestand receive this donation through techsoup, go in and check again. we havean eligibility quiz on our site. that’s under the “get products and services”tab and you can go through that eligibility quiz whether you are a member of techsoup’s ornot, there’s no cost to joining techsoup. it’s just the admin fee that you pay forthe specific products that you request and that admin fee goes to help ensure thattechsoup can continue operating our programs. and sometimes products are completelydonated, sometimes they’re discounted. so look at that in the details. forintuit’s programs, they are donations. and so, there is the quickbooks premier edition’sone-user license and that’s 2015 version.

and there’s also quickbooks premier three-userlicense. that’s if you have it at your office and you want your accountant to access itto do your 990s and you have a board member who needs to get in. you wantto make sure you request that. we also have quickbooks for mac. and keepin mind that these are limited to one request per fiscal year, so that’s july 1 to june 30 eachyear. so, you know, we’re offering the quickbooks – sorry – 2015 version right now. butyou can also request if you need it to be compatible with somebody else’sprogram or for some mission critical software that’s not compatible we have thequickbooks premier edition 2014. one user, three user, and mac edition isalso available, even lower cost admin fees.

so those are there for your use and we’llinclude those links in the backend e-mail that you’ll get later today. you can alsogo directly to them at techsoup.org/intuit or techsoup.org/specialofferstslintuit. soit’s a little bit longer, but like i said, you will get these links later. andthen, also, gregg’s organization, his company quickbooks made easy, they maketheir products available both by donation and discount. and so, you can getthe essentials training program, which is some of what gregg coveredtoday, but much longer and much more robust that you can get as a donated product dependingon your organization’s budget, or you can access it as a discounted product. beyond the essentialsis available only through quickbooks made easy.

and gregg mentioned earlier that hehad some promo codes that he could share for both the gregg: let me just tell – let me just tell them thatfor the essentials, what you’re going to be getting is a dvd with a follow-along handbook andit’s $229 normally, but when you get it through techsoup you’re going to either pay $39or $99. ok? so the – can i take it from here? becky: let me just show one other quickthing. i’ll be pointing you to these and these will be in the slide deck that you’ll get latertoday. so for people who are looking for more details on how to configure their quickbooks, wehave a whole series of blog posts that covers chart of accounts and classes and jobs andthings like that and then, a variety of webinars

that we’ve done with gregg in the past that coverdifferent versions. so if you’re on 2013, 2012, 2014; we have webinars that we’ve done withgregg that might help you with the version that you are on as well. so we’ll be sharingthose. and now, it’s time to get to questions, but before we do, i just want to mentionagain that after next week’s quickbooks webinar for existing users, we are having a soup chat inour community forums and it’s linked on this page, from 12:30 to 1:30 pacific time or depending onwhere you are, 3:30 to 4:30, if you’re east coast or some place in the middleimmediately following the webinar. so we’ll make sure that you’re pointed to that. so if we don’t get to your questions today, you can go there, post those questions now,and we will have people on hand next week

to help continue answering them for both today’swebinar and next week's. so on to questions. gregg: all right. let me do this one thingthat – it doesn’t look like it’s there. becky: the coupon codes i think are fartherback here. wait. let me – let me go back here. i think we skipped it. gregg: oh, that’s not the same code. let me just go ahead and tell them. ok. so the code – there it is – no – there it isright there. all right. so here’s the deal. this is another way for you to get yourquestions answered, so listen carefully. i’ve never done this before. but whatwe’re going to do is the tech support, where we can answer any questions thatyou have for an entire year, it’s 24/7.

you’re going to be assigned a cpa who isa nonprofit expert and who knows quickbooks and you’ll be able to talk to that person 24hours a day, seven days a week for an entire year. it’s normally $299. we’re goingto do it for $99 bucks. all right? so the code is ts48hour – ts48hour. and we’ll send that to you again, but you've got 48 hours from the end of this. andi know it seems kind of gimmicky and i apologize for that, but this is kind of a ridiculous price,but we wanted to see what would happen if we did this. so it’s $99. you’ll get – when you sign up forit, you’ll get a letter with the tech support number to call. i may very well be your person thatyou’re talking to. you’ll talk to the same person every time. and i’ll even dial-into the software to help you out.

i can spend hours on the phone with you if youneed me to. i really – i really can. i promise. i only teach a couple of days a month, soi’m free for this kind of stuff and i love it. all right. so let’s do questions and let’s goahead and we could start taking some questions. becky: we can go stay beyond a few minutes,yes, if we don’t get through many of them, but there’s tons coming in. so nancy asks," can i have the same person as a vendor and a customer?" gregg: no. you can’t have the sameperson as a vendor and a customer. and so what you’ll need to do instead is changethe name a little bit, put dash, v after vendor so that their name will be alittle bit different. what’s next?

becky: well, folks are asking where to signup for next week’s webinar. don’t worry. we will include that in the follow-up e-mail rightup at the top, so if you want to sign up for it, you can do that easily. gregg: yes. i want to encourage you becauseit’s kind of like a continuation of this one. ok. becky: kristy asks, "where do we entervolunteer hours?" and somebody earlier mentioned they are all volunteers, they have no staff,how do they use quickbooks with volunteers? gregg: ok. well – ok. so if you want to entervolunteer hours – i’m sharing again. don’t worry. i’ll pop that up again in a second. youwant to enter that in a list that’s called the “other names” list. so you go to“lists," you go to “other names” list.

this is where you enter your volunteers. i put something here that’s irrelevant, so i wouldn’t use that. so you canclick “other names” and you put the name of the volunteer “davis-tom." and then, if you goto – it’s under the “employees” menu, “enter time," “use weekly timesheet” and here’s where youenter the hours. ok? and we’ll enter it for tom and we can put the hoursright here. next question. becky: sorry about that. i had to unmute. do we need to have in-kind volunteer hours and in-kind products, like is that somethingthat’s really important for organizations to capture both of those? gregg: it’s important to capture – i’m going topop this back up again. it’s important to capture

the volunteer hours as a footnote for the audit,so i would think that it’s important to do that. i n-kind donation of products should be booked.i think it’s a good idea to track those, particularly if you are – here we go – particularlyif the stuff that’s being donated is program-related because when you book it, it’s going to up yourprogram expenses as a percentage of your total, so yes, i want you todo it. what’s next? becky: great. we also have asking– i’m half way through my fiscal year and have not been using the categories orclasses properly. is it ok to start over or should i wait until the new fiscalyear starts in july? what’s the best plan? gregg: it’s an interesting question. soi’d have to look and see about the data file

to see what i think the best way to go is. ingeneral, i say start using it now. set up the classes and start using the classes now. half a year we’llbe using the classes, the other half we won’t. that’s fine. but know that the report that icreated – that great report, you won’t really be able to get until you have a full year of transactions.so, yes, you don’t really get going and using it until the next fiscal year, but i don’tthink there’s any harm in starting now. and if there’s not too many transactions,you can repoint things. next question. becky: we have a sort of related question, buton a different area. but kristy asks you know, "somebody else was doing our quickbooksuntil recently and the accountant class list is way overboard. would it be better to startover and create a new company or try to clean up

the old one?" gregg: so, in general, the answer to thisquestion is, if the bank account reconciles. and so, your bank is right, then you know all thetransactions are in the data file. if that’s the case, then i’m probably going to try and see ifwe can basically inactivate the old accounts that we don’t need anymore – theold classes – and create new ones. so that way everything is still in the samedata file. we don’t – you know, we don’t have to start a brand-new data file from scratch. if the bank account doesn’t reconcile, then you might as well juststart over anyway. all right? now, either way, once you start using your newsystem, one downside is it’s going to be hard

to get comparatives to the prior year becauseyou have kind of a new way of tracking stuff, but that is no reason to keep from changing. just know that for that first year, it’s going to be a little hard to compareto the prior year. what else you got? becky: so now that churches and religiousorganizations are open to the donations of quickbooks, how do you categorize dues ortithing or donations, like if you have a membership or a club or you have like a parishfor example, where you want to be able to track who’s giving you what? is thatsomething you can use and do in quickbooks? gregg: yes, definitely. when it comesto churches and religious organizations, you have an income account for tithing. you havean income account for each one of those things

and you enter those and we’ll see how you enterthose individually, but you’ll be able to enter it by individual donor and print outyear-end donor acknowledgments. you can do that in quickbooks. it’s actually quite cool. you can also track funds in quickbooks. a lot of this stuff for churches is covered in the beyond the essentials product. there’s a lot of other stuff in there too. but that’s something that i can’t go intothe details of it now. i don’t have the time. but the answer is, yes, absolutely. becky: do you have any suggestions ofwhich programs are best to do the 990 with? anything that talkswell with quickbooks?

gregg: yes. the best solution for doingyour 990 is to pay somebody to do your 990. do not do it yourself because it’s themost complicated piece of tax return to do. if you want a suggestion for a piece ofsoftware, i’m going to suggest a piece of software that intuit has, which is lacerte and itcosts, you know, hundreds of – or maybe a $1,000 or something like that and it’s for accountants. so i wouldn’t try and do it yourself if i was you. becky: great. you know, we have some questionsasking, you know, how long will 2014 be supported and, when i go to transfer overto 2015, will things transfer over? and just on intuit’s end, they tend to supportfor three years back from the current version. so if you’re running 2015, 2014 and 2013 are allbeing supported. if you’re earlier than that,

then i believe that they don’t officially supportthose products any longer, so you may want to migrate. but as far as the transfer over, what’s that processlike if you want to upgrade to the newer version? gregg: it’s real easy. what you do is you loadthe new software. you’ll download it from techsoup – you load it. and then, once you’ve loaded it, you’llopen an existing file. i don’t know if you remember that button that said “open an existing companyfile” and you browse to where your old file is. and when you click to open it, it says, “waita second. this file is an older version. i have to convert it.” and it’ll go bloop, bloop,bloop, and it’ll convert it and then it will open it up in the new data file. so it’snot really transferring anything. the data file is where it is, and it stays where itis. it’s kind of like it just goes into the programming

a little bit so that it can be read in the newversion. but you know it’s going to be easy. they want you to upgrade. becky: great. yes. i mean, they do want to makeit easy and you know, the upgrades are available pretty readily. let’s see. we also have– what’s the difference between the donated and discounted version of quickbooks madeeasy? there is no difference to the one on our site, correct, gregg? it’s just the budget requirement. gregg: yes – no. it’s the same – it’s the samething, yes. it’s just the size of your organization determines the price that you pay andi can’t remember what the break out is. but either way, it’s $229 normally,so it will either be $39 or $99.

becky: right. and i believe it’s a $50,000limit. so if your budget is under $50,000, you can access the donated price. if yourbudget’s over $50,000, then you would have to pay the discounted version, which is still a big savingsover the retail, so that’s a terrific offer either way. and that’s for quickbooks made easy, notfor intuit. so intuit offering quickbooks has a different criteria. so make sure tolook at those eligibility and restrictions rules on those pages. gregg: i should tell you too that the techsupport that you’re seeing on the screen now that’s good for 48 hours, $99, youdon’t get that through techsoup. you do that through our website, quickbooksmadeeasy.com.

and you can call us as well if you just want usto do it for you, but that’s not through techsoup. becky: right. and that’s thesame with beyond the essentials. so the donated and discounted productsfrom quickbooks made easy is the essentials. beyond the essentials is availablethrough quickbooks made easy directly just to clarify since we had people asking that too.it is the top of the hour, or the top of the time of ending this. but if you want to stayon, we can stay on for a few more minutes, which gregg volunteered earlier to do. solots of questions about in-kind donations still, which i feel like you somewhat covered. so peoplehave more questions about in-kind donations. i would encourage you to go tothe forum thread and post there

and we can continueanswering. let’s see. gregg: i’ll try andcover in kind next week. becky: ok. and i think we do have it onour list for in-kind donations to be covered in the existing users and it’s the same timenext week, so 11 a.m. pacific or 2 p.m. eastern, whatever you are in the middle.you know, we have people asking, if they have premier already, shouldthey stay with the premier version or do you think that the different versions– you know, should people go for enterprise? a lot of people asked about whether payroll isincluded and it’s not in the premier version. what do you think about that?

gregg: yes. so enterprise solutions is the exactsame program, but it’s more robust, it’s bigger. that’s the difference. so instead of havinga limit of 14,500 donors, members or students, which is what your limit is in the premierversion; if you’re going to use quickbooks as a donor or member database, you can haveover 100,000 in the enterprise solutions. if you’re using quickbooks in a networkenvironment, you can have up to three users or five users in the program at once if you havepremier. in enterprise, you have up to 30 users. so it’s just more robust, but the pricing,it starts i believe at close to $3,000. so it’s definitely a different world. becky: great. you know, so there’s a questionasking if tech support covers the online version.

so the tech support is on the screen. gregg: yes. the tech support covers theonline version. and as a matter of fact, we are in production now and we’vealready finished the recordings, but we are creating a training product just for theonline edition. it’ll be ready in about six weeks. but, yes, i do tech supportfor online all the time. becky: we have some people asking if thisoffer for $99 tech support will be offered after next week’s session too becausethey have other staff attending that. gregg: yes. i don’t – my plan is no. we’ll have to see what happens here. so the plan at this point is no. soit’s 48 hours, $99 and then you’ll – yes,

so that would be 48 hoursfrom, i guess, when we finish. we’ll probably go tomidnight tomorrow night. becky: ok. so we are looking at – it will bethe day after tomorrow night, right, because gregg: i guess so. becky: just making sure. because,today, yes, it would only be 48 hours. gregg: yes. it’d be today after tomorrownight, so that would be saturday night. becky: ok. great. so nancy asks,"how do we inactivate old accounts?" gregg: ok. so to inactivate old accounts,that’s pretty simple. i’ll go back into here. so we go to the chart of accounts listand here’s an account. to inactivate it,

you just go to the bottom left-hand buttonand you click “make account inactive” and then it disappears. but it’snot really gone. it’s still there. you just can’t use it in future transactions. if you’ve used it in the past, it’ll still appear on those financial statements from the past. if you want to see what you've inactivated – you see this thing that says “include inactive?”you click it and everything that’s been inactivated appears with an x. and this actually becomesa really cool way of inactivating accounts that you don’t want to use anymore just by going click,click, click, click, click, click, click like that. next question. becky: you could do a lot of damage easilyif you wanted to. we have a couple of people

who’ve asked about – if you’re using adifferent accounting tool like peachtree, can you convert to using quickbooks prettyeasily? do you know how easy the process is to import from a different tool? gregg: you can. it’s really – i’m so glad you askedthis question. so if you’re going from peachtree into quickbooks, when you go to set up a newcompany, you see these other options down here? one of them says, “convertother accounting software data." and if you click it, which i’ve never clickedit before – look at that – “convert peachtree." it takes you to assuming that it’speachtree. that’s awesome. so, yes. and it downloads a converter tool and it convertsit for you. not everything converts perfectly,

but it’s pretty darn good. youknow they’re going to make it good. what’s your next questionswhile we’re waiting for those? becky: can you use a customeror vendor as an item or class? gregg: you can make the name of a customeran item. you can make the name of a customer a class. but i would want to know why. so, you know, we’d have to talk about it because i’m trying to figure outwhat it is they’re trying to track. becky: yes. i’m not sure there either. otherpeople asked about getting info in from quicken. so if they’re usingquicken for something? gregg: the same thing. as a matter of fact,i don’t know why this is taking so long,

but let me pop out and show you. yes, there’s a quicken one as well. i think that one is even easier. “new company> convert” – look, “convert quicken data." because that's the samecompany that makes quickbooks. becky: yes. quicken is ownedby the same intuit company, so they should hopefullywork seamlessly together. gregg: yes. becky: let’s see. we are almost out of time andi have a couple of other quick slides to cover so i’m going to pop us back out. go aheadif you have another final thing to say. gregg: no, no, no, i was goingto pop you back to where you were.

becky: great. thank you so much and thanksfor hanging out with us a little bit longer. i’m just going to show some of theseadditional resources and once again, we want to make sure that if you have unansweredquestions, which i know there are many, but we did answer more than 230 on the backendwhich is a lot, plus a number of other questions; you can take those to that soup chat forumthread that we’ll include in the follow-up e-mail. post those questions there and we will tryto make sure we’ve got people answering them between now and next week, and in particular, forthat hour after next week’s existing user webinar. i’d love for anybody who’s still on the linewith us to let us know one thing you learned today that you’re going to try and implement. andthis is just to capture, you know, the momentum

of “here’s an intention that i’m going todo with what i got out of today’s webinar.” and i have people saying that they’regoing to use classes and set up budgets and do in-kind donations, so that’s great.we’re happy that you’ve gotten something out of this. and we would love it if after youreceive the follow-up e-mail today, if you share it with your friends and colleaguesthat you think it would help them too because that’s what we’re all abouthere at techsoup. we want to make sure that you’ve got the knowledge and the resources tooperate at your full potential with your technology. so please join us for next week’s webinar. you’llget these links later today and you will – you know, if you’re not already registered and you wantto, those links will be in the powerpoint deck

that will also be attached on theside of that e-mail, so we’ll be doing the existing nonprofit user quickbooks event,the accounting soup chat right after it. and then, we have other webinars comingup that are not even on the calendar yet, but we have some coming up on cloud computingand mobile devices and assisting patrons with e-readers. so keep an eye out andyou can always visit our webinar archives or our youtube channel to viewwebinars that you’ve missed. thank you all so much for your participation. thank you, gregg, for taking so much time to share all of yourexpertise with our audience. gregg: it was fun. i’mlooking forward to next week.

becky: we love having you. and thankyou to kaydee peterson on the backend for really being a machine workhorse backthere answering a million questions at once and to david webb from quickbooks made easy,who’s also on the backend, allyson bliss and ale bezdikian from techsoup, aswell as louis haidt. thank you so much. we really appreciate you joining us andconnect with us on techsoup.org for more. also, thank you to readytalk who provided the useof today’s platform for us to present this webinar. their readytalk 500 tool is what we usedtoday and you can also access that donation at techsoup.org/readytalk. take a momentto please complete the post-event survey when you’re done so that we can continueto improve our webinar and programming.

thanks, everyone, andhave a terrific day. bye-bye.

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