There are several factors to carefully consider before selecting QuickBooks as the accounting software for your organization. The reality is nonprofits and churches have different needs than businesses. Whereas businesses focus on profitability, your organization needs to be a good steward of the resources people give. That means you need to show transparency and accountability. When someone gives money to your organization, they often designate a purpose for that money. You need to track that designated money to ensure it is used as intended. That means you need to use fund accounting, which is complicated and difficult to do in QuickBooks.
If you try to set up something resembling fund accounting in QuickBooks, you’ll soon conclude that you have to do a lot of workarounds to get what you need. Tracking money at the fund level and running the required reports for your board are hassles in QuickBooks. They take much more time and effort than they should because you have to use a combination of sub-accounts, classes, external spreadsheets, or even separate bank accounts.
“They (Aplos) saw a need for non-profits to have an easier way of doing their finances other than Quickbooks and met that need at a very affordable price, which is very important to nonprofits. Simplicity is important because often, the bookkeeper is a volunteer and does not have the experience required to use a cumbersome program like QuickBooks.”
Fund accounting doesn’t have to be difficult or complicated. The right software can provide everything you need while making fund accounting simple. Aplos was specifically created for nonprofits and churches, and their fund accounting needs.
Still not sure QuickBooks could possibly be that complicated when it comes to fund accounting? We created a short video to show you what it takes to get to your Cash Balance by Fund, Income Statement by Fund, and Balance Sheet in QuickBooks. It may surprise you.
To view the free video, fill out the form below.