Accounting For NGO’s Using Quick Books

Course Overview:
This course offered at IRES is tailored for professionals working in Non-Governmental Organizations (NGOs) who are responsible for managing financial records, budgets, and reports using QuickBooks. The course focuses on the unique accounting and reporting needs of NGOs, including fund accounting, grant management, and donor reporting. Participants will learn how to set up and manage NGO accounts in QuickBooks, track multiple funding sources, generate financial statements, and ensure compliance with reporting standards specific to the nonprofit sector. The course combines theoretical knowledge with practical QuickBooks training to ensure participants can apply these skills in their organization’s financial management.

Course Duration:
5 Days

Target Audience:

• NGO financial officers and accountants
• Program and project managers handling budgets
• Donor reporting and grants officers
• Anyone involved in the financial management of nonprofit organizations

Personal Impact:

• Gain proficiency in using QuickBooks for NGO-specific accounting tasks.
• Learn how to manage funds, track expenses, and generate accurate financial reports.
• Enhance your ability to handle multiple donor and grant requirements effectively.

Organizational Impact:

• Improve financial transparency and accountability in NGO operations.
• Streamline financial reporting processes, ensuring compliance with donor requirements.
• Strengthen financial planning and management for more effective fund allocation and utilization.

Course Level: Intermediate

Course Objectives:
By the end of this course, participants will be able to:

• Set up and customize QuickBooks for NGO accounting.
• Manage multiple funding sources and track restricted and unrestricted funds.
• Prepare and present financial reports tailored for donor and grant reporting.
• Generate budgets, manage expenses, and monitor project-specific financial performance.
• Ensure compliance with financial regulations and donor agreements.

Course Outline:

Module 1: Introduction to QuickBooks and NGO Accounting Basics

• Overview of NGO accounting principles and practices
• Introduction to QuickBooks interface and features
• Setting up QuickBooks for NGO use: chart of accounts, fund categories, and classes
• Practical Exercise: Initial QuickBooks setup for a nonprofit organization

Module 2: Managing Funds and Grants in QuickBooks

• Tracking restricted and unrestricted funds
• Allocating grants and donations to specific projects or programs
• Monitoring fund utilization and generating fund-specific reports
• Practical Exercise: Managing and reporting on multiple funding sources in QuickBooks

Module 3: Expense Tracking and Budget Management

• Creating and managing budgets for NGO projects
• Recording expenses and ensuring proper allocation to relevant funds or grants
• Monitoring budget performance and variance analysis
• Practical Exercise: Expense entry and budget tracking for NGO projects

Module 4: Donor and Grant Reporting

• Generating financial reports for donors and grantors
• Preparing financial statements, including income and expense reports and balance sheets
• Customizing QuickBooks reports to meet specific donor requirements
• Case Study: Generating donor-specific financial reports

Module 5: Advanced Features and Compliance

• Using QuickBooks for audit preparation and ensuring regulatory compliance
• Integrating QuickBooks with external software for payroll, taxes, and invoicing
• Real-life Project: Preparing a comprehensive financial report for a nonprofit organization using QuickBooks

Related Courses

• Grant Management and Fundraising Course

• Money Laundering Course

• Insurance Accounting and Financial Reporting Course

• Quickbooks for Non-profit Making Organizations Course

• Financial Innovations and Emerging Issues Course

• Financial Management & Reporting for Donor Funded Projects Course