Hi,
I run a nonprofit, and just ordered QB Premier 2006 (Canadian Version) from TechSoup. Its still in the mail, but I've started reading the official guide (and anything else I can find) in preparation. It shoud be said that I know nothing about bookkeeping or accounting, but I need to start knowing a lot, quickly.
My question - On top of all the regular bookkeeping that needs to be done, one of my funders wants me to show them how I've spent only their dollars. In their guidelines, they advise to either open a new bank account just for their funds, or to assign a new account name/ number in bookkeeping software. Does QB allow me to do this? Is it called "Class"? If so, will it allow me to report the expense in that Class as both a Class report and a general ledger report?
Thanks, Damien