Using QB Premier Non-Profit to meet IRS and GAAP needs
We're currently in the process of reviewing our accounting system in hopes of improving its ability to meet the needs of both generally accepted accounting principles (GAAP) and IRS Form 990. We currently use QuickBooks Premier 2008 for Non-Profits. GAAP requires that we distinguish between Unrestricted, Temporary Restricted, and Permanent Restricted funds and transactions. IRS Form 990 requires that we break expenses down by Program Services, Management & General, and Fundraising. Either of these needs can be served well by using Classes, but it doesn?t work well for both simultaneously.How are others using QuickBooks to meet this need?Thanks for any help.
