05 October 2006

New Information about QuickBooks

Welcome back!

A 2007 edition of QuickBooks Premier for Nonprofits is available on the Intuit website. Intuit is the manufacturer of QuickBooks. When I looked this morning, the price listed is $399. There is also a 2007 QuickBooks Pro for $199.95. Nonprofits with which I have worked have successfully used either one successfully to track the financial progress of their organizations. If you are planning to do your own payroll, I understand that the newest version may be worth the extra expense. For most of my clients, I recommend they use a payroll service to manage the withholding taxes, FICA and other payroll related functions. It is best to look to your own financial expert for the best solution for your organization.

QuickBooks Premier 2006 Edition is still available from Amazon.com for $334.99. That price is up substantially from one month ago.

Your ideas matter here! Please leave a comment.


Jose Quinonez said...

I haven't visited your site in a while. Good work. Thanks for visiting our family site.

I believe you know that I am the E.D. of a non-profit org. Some time in '07 I hope to be making a transition from having a bookkeeper handling all of our financial duties to doing it all in-house.

I don't know if I would like an off the shelf program like Quickbooks or if our organization should purchase specialized accounting software like AccuFund or Sage MIP Fund Accounting for instance.

In any case my Board and I will be looking into all our options next year. My first step is delineating all our financial and reporting needs. My guess is that QuickBooks won't allow us to do "fund accounting", like most non-profits we have many, many sources of funding sources to run our operations and keeping a track of it all and reporting to funders is critical.

Anyways. Good site Glen. Keep in touch.

Glen said...

For an organization that wants to transition from no accounting software to something basic. QuickBooks has worked for many of my CCF clients. These are emerging groups that are starting organizations.

I have talked to some bookkeepers who know how to fix the fund accounting situation by using the "class" function on QuickBooks.

But you are right there are many good reasons that a specialized or customized product is necessary for complete fund accounting systems.

Accountants also list reasons that QuickBooks does not work well for auditors.

Thanks for the comment. Hope to hear from you again.