Are we using Quicken correctly?

ffcivitan

We are a small Non-Profit. We recently started using Quicken on the Web(?), Simplifi. Are we also supposed to be using a desktop, installed version? I use Quicken for my personal finances and it's an installed version. Simplifi works pretty well for showing current overview, but we can't print reports.

Frankx

Hi @ffcivitan

The decisions you make are your own.  Nobody here can tell you whether or not you are "supposed to be using a desktop". 

I suggest that you need to look into this yourself and/or (since any potential record-keeping requirements are set on a state-by-state basis) consult with your nonprofit's attorney, who would be knowledgeable of those requirements, if you are not.

All that being said, if you are using an application that doesn't permit you to "print reports" (or save such reports in a format that a third-party regulator could examine), I would be of the view that such a "system" will likely not meet the minimum requirements. 

Just my two cents.

Frankx

ffcivitan

Frankx,

Thanks for the response. I guess maybe I need to ask a better question. Is the web version a 'supplement' to the desktop? There are good features of the web based version. We change the treasurer position every couple of years, so it's nice to not have to install/uninstall on someone's personal laptop each time. But since we are required to produce some reports, that's a limitation.

And since we are a non-profit, there is always the cost aspect.

volvogirl

Simplifi is a separate thing from Quicken.  You could use your Quicken program for the non profit.  You can have more than 1 separate data file.  Go up to File-New Quicken file.

Frankx

Hi again @ffcivitan

Yes, I believe that Quicken on the web could be considered a "supplement" to the Quicken desktop application.  You would clearly have more flexibility if you were to allow treasurers to use Quicken on the Web from time to time to enter and review data, and generally monitor accounts without having a desktop version on their computers.

But - as @volvogirl said - Simplifi is a separate application that is only web based and not part of Quicken desktop or Quicken on the Web. 

And, under any scenario, Quicken desktop/Quicken on the web is likely to be more costly than using Simplifi, but it is a more robust application and should be able to meet the requirements of non-profit regulators as well as the non-profit's members, supporters, and beneficiaries.

Frankx