You can set up a non-profit organization in the system to meet the organization's particular needs, enabling you to book transactions and produce appropriate financial statements for a non-profit client. Set up a client as a non-profit organization as you would any client, but select Non-Profit as the organization's Entity Type; then, set up their chart of accounts using an appropriate template.
To set up the entity type for a non-profit organization:
Go to the Setup>Company>Contact screen for the client and select Non-Profit in the Entity Type field.
To create a chart of accounts for the client:
Select Setup>Chart of Accounts>Accounts and select Copy From Our Industry-Specific Templates Provided.
Select Non-Profit or Religious Org from the Select Industry drop-down list.
Click Create to create a non-profit Chart of Accounts.
When you set up an organization as a non-profit entity, the system creates two funds:
Net assets without donor restrictions
Net assets with donor restrictions
By default, these funds are connected to capital accounts (Retained Earnings Class) of the same names on the Chart of Accounts.
For more information on setting up:
A client, see Manage Clients
Chart of accounts, see Set Up Chart of Accounts