Nonprofits and charities are
difficult to manage. They receive tax incentives, but they need enough money to
continue their business. They need to pay employees, maintain infrastructure,
organize marketing campaigns, and handle many other costs.
In modern times, it is becoming
increasingly difficult to earn a stable income to carry out a plan accurately.
Decreased government support also adds to the government’s agenda.
There is no single solution to
all the problems faced by nonprofits and charities. However, sophisticated
accounting tools like QuickBooks can certainly help them solve some of their
problems.
Nonprofits and charities differ
from commercial organizations in many ways. They have their own set of tax
implications. Their financial reports are also different. Therefore, you need
to change the way your accounts are managed. To do this, you need accounting tools
that are tailored to your specific needs.
QuickBooks non-profit accounting
software is customized for non-profit and charitable organizations. This
article discusses the benefits of Quick Books cloud
hosting for nonprofits and charities. It also describes how certain
features differ from the common accounting solutions available on the market.
Let’s dive into it.
Top 3 features you get with QuickBooks hosting:
Flexibility
QuickBooks Desktop Business
Hosting for nonprofits can access 5 to 30 employees at the same time. Any user
accessing the application can work with the two organizational files at the
same time. In addition, this application allows you to combine reports from
multiple files. This will help you better understand your business.
QuickBooks cloud hosting gives
you access to all your accounting data and files from anywhere in the world
with the help of Cloud
PC for more security. This ensures business continuity even during
difficult times such as the COVID-19 pandemic. You can also work flexibly for a
variety of reasons, whether you’re on the go or the go.
Reporting
With QuickBooks for Nonprofits,
you can record all kinds of expenses incurred in fundraising, social campaigns,
administrative activities, events, and various other projects. This makes it
very convenient and easy to submit an information statement to the Internal
Revenue Service (IRS).
There are ready-made report
templates such as balance sheets, company profiles, expenses, and income
statements. It helps maintain a non-profit or charitable record and makes it
easy to share organizational information with the general public and the IRS.
Scalability and Security
Like regular organizations,
nonprofits and charities need to expand to meet the growing operational
demands. QuickBooks Enterprise for Non-Profit provides effective scalability
options. They may have additional features, increased storage capacity, and
better security measures. This not only guarantees the protection of sensitive
data but also speeds up the processing of large databases.
QuickBooks hosting service
providers integrate state-of-the-art security measures to ensure that your data
is safe from potential threats. Security features such as data encryption and
multi-factor authentication make it difficult for cybercriminals to access
their data. In addition, data centers are monitored and protected by
appropriate means to eliminate physical threats.
Conclusion:
It can be difficult to streamline accounting activities for nonprofits, but hosting QuickBooks for nonprofits makes this easy. It gets easier when you tie up with Intuit Authorized hosting provider like Apps4rent to host your QuickBooks in the Cloud. This provider also helps you with different migration services to migrate Google workspace to Office 365 while providing many benefits to its end-users with optimum security and maximum cost saving.