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SBA PPP Loan Bookkeeping

The SBA’s Paycheck Protection Program works through local banks to support small businesses and non-profits with a forgivable loan to cover eight weeks of payroll, rent and utilities.  Each recipient will be required to document the use of the funds in order to seek forgiveness of the loan.  Step-by-step instructions for QuickBooks entry simplifies the reporting:… Read More »SBA PPP Loan Bookkeeping

QuickBooks 2020

If you’re using QuickBooks 2017 or earlier, you may have received notices about your software support being discontinued at the end of May.  Support for QuickBooks 2017 will end on May 31, 2020.  What’s the cheapest way to update?  If you are not using the payroll features, the older versions will continue to function.  However,… Read More »QuickBooks 2020

What is Accrual Accounting?

During the Q&A of a recent webinar, a participant asked, “What is Accrual Accounting?”  It is one of the primary “best practices” for non-profit organizations, since it provides a more accurate assessment of an organization’s financial activity.  A longer explanation is available on pages 59-63 of A Church Finance Handbook, but here is a snapshot: There are… Read More »What is Accrual Accounting?

QuickBooks 2018

If you’re using QuickBooks 2015 or earlier, you may have received notices about your software support being discontinued at the end of May.  Support for QuickBooks 2015 will end on May 31, 2018.  What’s the cheapest way to update?  If you are not using the payroll features, the older versions will continue to function.  However,… Read More »QuickBooks 2018