How to Update Jirav for a Non-Profit to reflect Net Assets on the Balance Sheet.
In Jirav, the Retained Earnings account is a key system account that helps ensure your financial statements remain balanced across all plans. In most cases, Jirav automatically identifies this account when importing data.
However, nonprofit organizations often use Net Assets instead of Retained Earnings. If you'd like your dashboards, reports, and plans to display "Net Assets" instead of "Retained Earnings," follow these steps:
-
Go to Settings > Company > Labels.
-
Rename "Retained Earnings".
-
Save your changes.
QuickBooks Desktop (QBD) Users
Nonprofit organizations using QuickBooks Desktop (QBD) may encounter an error if their Chart of Accounts does not include an account named "Retained Earnings." This happens because Jirav looks for that exact account name, while nonprofits often use "Net Assets" instead.
To ensure your nonprofit financials align correctly in Jirav, you can manually map your Retained Earnings account. Follow the steps below to enable and use this feature:
1. Enable Manual Mapping
This feature is not enabled by default. Email support@jirav.com or submit a support ticket to activate it for your account.
2. Assign the Correct Account
Once enabled:
-
Go to Settings > Company > Accounting.
-
Locate the option to manually map Retained Earnings.
-
Select your "Net Assets" (or equivalent) account.
-
Save your changes.
3. Reimport Your QBD Actuals
To apply the changes:
-
Navigate to Integrations > QuickBooks Desktop and click Import.
- Open QuickBooks Web Connector > Check the Jirav application in the list > Click Update Selected.
4. Rename the Account Label
For reports to display "Net Assets" instead of "Retained Earnings" in Jirav:
-
Go to Settings > Company > Labels.
-
Rename "Retained Earnings" to "Net Assets."
-
Save your changes.