NON-PROFIT bookkeeping intro (niches for bookkeepers: series) .com/watch?v=CzxSFRetgDo

Bookkeeper niche: intro to bookkeeping for non-profit organizations. In this video I talk about how to break out expenses with classes–most non-profits use groups such as fundraising, program & admin to show where their money is going. I also cover audits and what that may look like as a bookkeeper. In-kind donations and budgeting are also things unique to not for profit organizations. If you’re a bookkeeper looking for a niche, this should give you a good overview of the types of specialties in non-profits!Things mentioned: 30 best clients: Receipt management (QBO receipt capture): Receipt management (paper filing): Niches playlist:❤ Favorites: Checklist: Start a bookkeeping business Free masterclass: Is bookkeeping right for me? Chart: where to start bookkeeping? Bookkeeper Business Coach: my class, how to start your business in 30 days: LEARN bookkeeping chart: Bookkeeper Launch: (affiliate link) Bookkeeper Launch free series:✔ Please SUBSCRIBE! Hit the BELL 🔔 icon to be notified of my new videos each week (after you’ve subscribed, the bell is next to the subscribe button) ➡ My website: ➡ Facebook: off QuickBooks: (affiliate link for new users). This is best for business owners who want to get started–bookkeepers should get QuickBooks Online Accountant.▶ What to watch next:Learn bookkeeping: How to become a bookkeeper (with chart): What does a bookkeeper do? Day in the life playlist: Bookkeeper launch video: Bookkeeper launch link: Big, medium & small clients: Get paid faster: What does a bookkeeper do? Paperless bookkeeper: Before you start: Profit margin for bookkeepers: Bookkeeper Q&A: Bookkeeper SKILLS: Get bookkeeper experience: Work from anywhere: Impostor syndrome for bookkeepers: Bookkeeping is figureoutable: Impostor syndrome for bookkeepers: 10 reasons to start bookkeeping: Monthly bookkeeper tasks: Client onboarding: Why start bookkeeping: FREE bookkeeper certification: ProAdvisor TEST TIPS for Quickbooks Online: How much to charge: How many clients to earn 100K? Bookkeeper Q&A: Minimalist bookkeeping: Time off for bookkeepers: How I run my bookkeeping business: How to start a bookkeeping business: Day in the life of a bookkeeper: Bookkeeper FAQs: COST to start a bookkeeping business? Why I became a bookkeeper: What does a bookkeeper do? Bookkeeper certification? Bookkeeper interview: Creative childcare: Rock your next interview: #finepoints #bookkeepingThis description box may contain affiliate links. I only endorse companies that I genuinely believe in. This helps support my channel and continue to provide lots of free, valuable content.

33 thoughts on “NON-PROFIT bookkeeping intro (niches for bookkeepers: series)

    1. @FinePoints exactly! or like a law firm accounting class or medical accounting, real estate accounting, etc.

  1. As always, you summarize things really well. Thanks! I actually have worked with several non-profits throughout my career and you hit the highlights for sure. Just a couple things, when you talked about expense buckets, I always suggest a 4th one called “Allocated”. This actually saves time over breaking out individual expenses to the 3 main categories of program, admin & fundraising. You would just toss in shared expenses that need to be split out (like office supplies as you pointed out – but also rent, salaries, depreciation, etc.) Anything you can not identify directly to one of the main three, then goes into allocated. At some regular interval, you would summarize the employees timesheets and come up with a percentage basis to split all the allocated back into the other 3 buckets, I found time spent by each employee is the most defendable come audit time. I typically do this every quarter but some larger NPOs do this monthly. I found this saves time and does not leave questionable decisions about how much of each expense goes into each bucket. Many do what you do and say 1/3 each and normally the program should be getting more and come 990 tax time most NPO’s want the majority of their expenses to be in programs. The other thing you mentioned with budgets is very true. QBO is not very easy to build your budget in so I have used Excel to build it, then I get BOD approval then I load it into QBO so the comparatives can be done going forward. I think this is a good niche, looking forward to legal as I would like to get into that area as well. Perhaps cover how we can stand out for the trades people if you have done any (electricians, plumbers, HVAC, etc.). Thanks Morgan – great Info!

    1. Great insight, thanks Mark! Wow, I love your method of “allocated” that would have saved me SO much time if I didn’t have to break everything in to thirds (my organization was fairly strict, so not sure if they would have been flexible to make that change… but still great to know). I know a lot who do budgets in Excel also.

  2. This was a good overview! One question I have is about grants since they are such a crucial part of nonprofit success. The foundations giving the money usually require reporting on expenses paid with the grant money. I wonder if there is a way to track that in QuickBooks. I might take the QuickBooks Made Easy nonprofit class online, I think they cover this.

    1. Easy to handle. Assign another class to that specific program. You would code all expenses and revenue to it and QB let’s you run a P&L on that class only. One non-profit I worked with had over 100 sub classes under programs to do exactly this. But QB handles this pretty efficiently.

    2. Great question, and thanks to Mark for the answer! I haven’t really worked with grants personally (but did think after the vid was finished that I should have touched on it).

  3. Thank you for sharing this video. Do you have any information on nondenominational ministries? If so, please let me know. Right now, I am currently doing Bookkeeping and Accounting for a church where I attend; and at the same time, I am trying to get more clients and grow my business. Again, I thank you for the video you have just shared, and look forward to your response.

    1. Good idea! I don’t have any more specific advice other than what I mentioned in the video. I think that’s a great niche to work in as a bookkeeper.

  4. Mam are u a Quick book Pro advicer as well. Because u seems expert in quick books. If yes then plz tell me are u doing it remotly?.

    1. @FinePoints Thank u so much for ur reply mam what are you views about US Tax preparation business, can we do it remotly from overseas country(like Pakistan). I will remain oblige if u make a video on Remote Tax preparation business.
      Lastly I want to say ur doing great job. Every video is full of knowledge. Though u talk too fast😁 but not a big issue. Still love to hear from u Stay blessed.

  5. Non-profits are very tricky. I work in the tax department of a very large public accounting firm.

    Non-profits can get in trouble quick, and often penalties are assessed on the individual board members as well as the actual non-profit.

    Don’t want to discourage anyone from pursuing this niche, but it is inherently more risky than other entities/industries.

    Also, usually you have an overhead class as well. Otherwise, each transaction should be allocated to only one class.

  6. Please forgive me if this is off topic. Is there a need for malpractice insurance in a bookkeeping business?

    1. Yes, I recommend getting Errors and Omissions insurance… just call any insurance company and they should be able to get it set up.

  7. Aplos has been fantastic for my nfp client. Definitely breaks things up differently but also has some limitations. As I’ve been learning QBO more now, I see pros and cons for each.

  8. Great video! My niche is non-profit bookkeeping. I also deal with ALOT of grants. How would I go about finding more information about that? I focused niche is equine therapy. The bookkeeping end of that has a lot of grants. That is most of our income. I love the specialty.

    1. Not specifically for farming clients yet, but that’s a great idea for a niche video! -Gabe (FinePoints Admin)

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