Welcome to QuickBooks Online for Nonprofits.
My name is Ufuoma Ogaga, I am the owner of Goshen ...
Bookkeeping & Consulting.
I am an Advanced Certified QuickBooks ProAdvisor and a ...
financial controller serving nonprofits nationwide by ...
helping them to increase profitability one mission at a time.
In this session, we will focus on how to ...
create products and services and how to map them to your ...
chart of accounts in QuickBooks Online.
There are two ways to access your products and services ...
center in QuickBooks: One way is by clicking on the ...
Gear icon then select product and services under the lists ...
column. The second way is by clicking ...
the Sales tab on the left navigation bar,
then select products and services.
Here you will see the products and services center.
To setup a new product or a service, click New.
QuickBooks Online has 4 types of products and ...
services called Inventory, non-inventory,
service and bundle. For nonprofits and in this ...
demo, you will use the service option.
Enter a name for your service that will appear on a sales ...
receipt or an invoice. I will enter general donations ...
as my service. Select a category.
Category is just another way to group your services and ...
organize your list in the products and services center.
You can group by income types,
grant types, or fund types.
I will enter contributions as my category.
Choose a default class that you frequently use for this ...
service. I will select the Admin class.
Enter a description in the sales information field.
This description will appear on your sales form.
You can leave it blank if you don't use the same ...
description every time for this service.
You will still have the option to edit the description when ...
recording a transaction on a sales form later on.
I am going to leave the description field blank.
The price field should only be used if you have a standard ...
price for this service. If the price changes every ...
time, leave this field blank.
Since, I am creating a general ...
donation, I am going to leave the price field blank.
Here is where you point a service to an income or ...
revenue account on your financial statements.
I will point the general donations service to the ...
contributions income account.
You can also check the box next to track sales tax and ...
enter the sales item if this service requires it.
I will uncheck this box.
If you want to track expenses relating to the general ...
donations service and have it mapped to an expense ...
account on your financial statements,
you will check the box next to the purchase information ...
field. This will make the general ...
donation service a two-side option to use on your sales ...
and expense form. I will leave this unchecked.
Click save and close to exit the setup screen.
Here is the new service we just created.
You can add more columns by clicking on the Gear icon ...
and selecting the options you want to display.
I will select the income account column and choose ...
the compact view.
That is a quick and simple way to add your giving ...
accounts from your external donor database as services in ...
QuickBooks Online.
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