![]() ![]() The Shop Manager then closes out the till at the end of the night and the amount is checked and deposited. The rates aren't good or bad, but it would be nice to have other options.Īll donations, new parts sales (taxed), and used parts sales (not taxed) are run through the POS. Not to mention if you want to accept credit cards, the POS software makes it impossible to use any other credit card processor than, you guessed it - Intuit. Relative to other products, it seemed to be FAR cheaper, but they seem to get you in any customization with auto-renewing monthly support contracts. We use Quickbooks and Quickbooks POS, and instantly share the data files to various board members using Dropbox. Who uses what? Salt Lake City Bicycle Collective Payroll companies will fill under your organization's name and unemployment number, whereas with a Leasing company you they file everything under their business name and unemployment number. One key distinction when shopping around for a good company. Ask some of your smaller local non-profits who they use. The penalties for screwing up payroll are far greater than years of paying a payroll company to do it. Have the CPA file your 990 based on the end-year Quickbooks Online or reports.Have the person in charge of purchases log in on a weekly or monthly basis and accurately categorize / code all of the transactions in Quickbooks Online or based on the recommendations of the CPA.Tax law may change yearly, so ask this question yearly. At the beginning of the year find a CPA that will fill out your IRS Form 990, and ask them what Chart of Accounts they would like, in other words, how would they like bank transactions categorized / coded.On a related note, a good bank will also waive all the fees for a non-profit. Connect your bank accounts and Paypal accounts to Quickbooks Online or, if your bank isn't supported, pick a bank that is, it is well worth the trouble.If you can afford the well worth it monthly fee, signup for Quickbooks Online - if not, (also owned by Intuit) is free and while it is made for personal accounting it can be bastardized for running a small organization.NOTE: It REALLY helps if you limit who can make purchases and thus who is responsible for the receipts to one very organized person. Keep each years binder of receipts in the filing cabinet, given that there is no statute of limitations when a tax return is false or fraudulent or when no tax return is filed with the IRS. 70186 which conveniently comes with pre-labeled pockets for each month. 70186 which conveniently comes with pre-labeled pockets for each month Every year, keep your receipts in a separate Smead Binder No. Buy a filing cabinet and put it in a safe but convenient location, used ones are under $20 at thrift stores. ![]() The following is a very simple and 90% automated way of keeping track of the accounting and receipts. As a result Accrual accounting requires more effort, but gives you a more accurate month to month report. Whereas with Cash Basis checks are entered in on the date they are cleared, and invoices are entered in on the date they are paid. A very simple example to distinguish the two is that Accrual assumes that checks clear the same day you write them, and that invoices are paid the same day you write them. Cash Basis is easier for smaller organizations, whereas Accrual is required by the IRS of organizations that make over $600k annually or a third-party audit is required by a foundation for larger grants. POS and Cash Register Plus integrate with Quickbooks which will make your book keeper happy.Īccrual and Cash Basis are two different ways of doing accounting. Yellow Bike Database exports transactions into a csv file that can be easily imported into GnuCash. GnuCash is a mature small-business financial-accounting software that is freely licensed under the GNU GPL. The complimentary licenses are valued at about $ 14,400 per year. has a charitable Foundation that provides 10 complimentary licenses of 's CRM tool to qualifying non-profit organizations to help them manage their donors, volunteers, partners, marketing campaigns, donations etc. ![]() If you are a 501(c)(3) non-profit, you can sometimes find Quickbooks cheaply on TechSoup. Once you use one, you will be married to it for life, because it is difficult to transfer data to the other. Quickbooks and Peachtree are probably the most common accounting software packages out there. 2.1 Quick and Dirty Cash Basis Accounting. ![]()
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