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UCOA - Unified Chart of Accounts

Using QB Pro 2003 for Nonprofits on WinXP. ==================================The UCOA is a means for nonprofits to standardize their COA's and align them with each block if IRS Form 990 (our federal "tax" return). [Details at

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We've done a poor job of managing grants in QB and I want to get it right. Just wanted to hear from other NPO's whove' impleted the UCOA and have grants woven in; in other words - lessons learned. My original idea was to create accounts for each grantor (i.e. US Fish and Wildlife, US Geological Survey, etc.) and use subaccounts/classes for each grant by each further broken down by such items as: grant money received, expenses like salaries, equipment, insurance, supplies, travel, etc.

I think I can still do this, but am unsure as UCOA makes use of Programs that each grant ought to fit under.

I'd appreciate any and all input.

Reply to
Mike Webb
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Hi Mike

I've just done something very similar (without the UCOA as we are in Denmark). Your basic idea is on the right lines but you may need more than one account per grant if you want to also be able to see expenditure you still have to make, payments still to come in from your donor etc. Your use of classes is correct although again you may just want to use them for classify expenditure rather than income as well. We also have each donor as a customer and each grant as a job for that customer. This makes it easier to run reports and group income and expenditure together.

If you haven't already done so can I recommend that you buy the book 'Running Quickbooks 2005 for Nonprofits' by Kathy Ivens (ISBN:0-9720669-6-9 web site

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where you can also download the UCOA as an IIF file). It won't solve all of your problems (especially as it is for QB 2005) and you may want to do things a bit differently but for $35 it will give you confidence that you are going down the right lines and will probably suggest things you haven't thought of yet. Good luck

Richard

Reply to
RichardP

Thanks for your input!

Reply to
Mike Webb

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