Hi, I use Gnucash to manage the accounts of a not-for-profit association based in Australia.
At the end of the day, it's treated like any other business, but may be exempt from certain taxes. You'd first need to familiarise yourself with the requirements for a not-for-profit association and comply with the rules that are applicable for where your association is going to be set up. These rules will vary from country to country and maybe even from state to state. For the association I help manage, we are registered with the state government body as a not-for-profit incorporated association. We can therefore declare ourselves as exempt from paying tax on our net company profit. We are 100% run by volunteers, so we don't have to pay salaries and collect or pay tax on behalf of any employees. We pay rent, utilities, operating expenses and insurances just the same as any other business. In our case, we usually have a turn-over that exceeds a certain limit, so we have to collect GST on sales, and we submit a quarterly Business Activity Statement to declare how much GST we pay on purchases and expenses and we either get a net refund or we pay the net shortfall. To calculate GST on our activity we use the Gnucash Tax Tables and set up GST liability accounts so it's not difficult to figure out the required information to submit. We use Gnucash to reconcile our bank accounts and generate financial reports annually, and we submit to an annual audit performed by a certified practising accountant. We receive a report which we have to submit annually to the state government body we are registered with. Hope this helps! On Fri, Aug 9, 2019 at 11:36 AM Mike or Penny Novack < stepbystepf...@comcast.net> wrote: > On 8/8/2019 12:24 PM, Larry Wagner wrote: > > I would like some comments about how one would set up gnucash for a > > non-profit. > > > > Here are some of the specifics: > > What kind of non-profit are you? What do you have to file with what > jurisdictions? > > << There are non-profits that do not pay taxes, but are not tax > deductible organizations. The rules are different with what gets filed > with whom >> > > Michael D Novack > _______________________________________________ > gnucash-user mailing list > gnucash-user@gnucash.org > To update your subscription preferences or to unsubscribe: > https://lists.gnucash.org/mailman/listinfo/gnucash-user > If you are using Nabble or Gmane, please see > https://wiki.gnucash.org/wiki/Mailing_Lists for more information. > ----- > Please remember to CC this list on all your replies. > You can do this by using Reply-To-List or Reply-All. > _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
