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DoubleL2
January 28, 2024

Retained Earnings Non-Profit

  • January 28, 2024
  • 2 replies
  • 0 views

We are using Quick books online for a non-profit.  Technically non-profits have no "Retained Earnings".  Is there a way to force what QB normally posts to retained earnings to the "Correct" account for a non profit titled Unrestricted Net Assets ?

    2 replies

    Rainflurry
    Rainflurry
    January 28, 2024

    @DoubleL2 

     

    You can't set it up to automatically post to Unrestricted Net Assets.  You need to move it with a journal entry: debit Retained Earnings, credit Unrestricted Net Assets. 

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    DoubleL2Author
    January 28, 2024

    Thanks that's what I thought.  Something quickbooks software developers need to make as a feature for non profits.

    MorganB
    MorganB
    January 29, 2024

    Thank you for following up on this thread, DoubleL2.

     

    I recommend submitting feedback to the Product Development Team for review. Be sure to include all of the details about having QuickBooks automatically post to the correct account for non-profit organizations. This can be done directly through your account by clicking the Gear icon in the top right corner, then select Feedback.

     

    Once you've done that, keep any eye out on the Firm of the Future site for info about product updates and feature releases, as many of these come directly from great user suggestions like yours. Please don't hesitate to reach back out here in the Community if you ever need assistance. Take care!

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