NonprofitBooks 2002 Offers First Mass-Market Software Tailored to Distinct Needs of Nonprofit Organizations

Business Wire,  April 22, 2002  

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Business Editors

CHICAGO--(BUSINESS WIRE)--April 22, 2002

As member of the Intuit Developer Network, B2PCommerce Corp bases

solution on world-class technology platform

B2PCommerce Corp today introduced NonprofitBooks(TM) 2002, an affordable fund accounting software solution meeting the specialized needs of nonprofit organizations. Designed as a companion application to Intuit's popular accounting programs QuickBooks(R) Pro 2002, QuickBooks Premier 2002 and Premier: Accountant Edition 2002, NonprofitBooks provides a comprehensive approach to the accounting requirements of the small- to medium-sized nonprofit organizations that comprise 82 percent of the nonprofit sector.

The U.S. nonprofit market is a large and diverse group of more than 1.6 million organizations. According to McKinsey & Company, at 6.7 percent, the nonprofit sector is the third largest contributor to the U.S. gross domestic product. The Nonprofit Almanac also reports that small- to medium-sized nonprofits spend $51 billion annually on business products and services.

Created by nonprofit finance experts, NonprofitBooks facilitates accounting and reporting, allocates program expenses, administers grants and generates specialized financial reports for boards, contributors and regulatory agencies.

"With NonprofitBooks, B2P is offering an affordable software tool designed for the distinct needs of the diverse nonprofit market," said Jason Saul, co-founder and chief executive officer of B2PCommerce Corp. "Nonprofits are simply businesses with a cause, and by using NonprofitBooks to streamline operations, nonprofits can focus on generating results."

As a member of the Intuit Developer Network, B2PCommerce Corp has access to the QuickBooks Software Development Kit to help it create new applications and enhance existing products to enable data sharing with QuickBooks 2002 products. The Intuit Developer Network also provides opportunities for B2P to make its integrated solutions available to nonprofit organizations that use Intuit's solutions.

"Intuit and B2PCommerce Corp both recognize that nonprofit organizations juggle many daily tasks and that they are constantly looking for ways to streamline their operations," said Esther Kruijver, director of the Intuit Developer Network. "Enabling the exchange of data between NonprofitBooks and the QuickBooks 2002 products will help nonprofits save time and manage their resources more effectively, allowing them to spend more time actually running their organizations."

NonprofitBooks' intuitive interface is both easy to use and instantly familiar to QuickBooks users. Its Set-up Wizard helps users quickly install and set up the program, translating complex accounting jargon into easily understood nonprofit terms. The NonprofitBooks instruction manual even includes an accounting primer devoted to educating users on some of the basics of fund accounting and reporting.

NonprofitBooks uses Crystal Reports(R) to generate financial reports using QuickBooks data. It also can help users prepare IRS Form 990, saving time and money.

B2PCommerce provides extensive training and support for NonprofitBooks through the Training & Support Partner Program. There currently are 11 such training centers around the country in cities including San Francisco, Chicago, San Diego, Detroit and San Antonio. The company also has created an Advisor Network as a resource for nonprofit accounting expertise and information. The network serves as a business referral tool and helps consultants service their existing clientele better.

"In addition to creating NonprofitBooks as a useful, affordable product, B2P is also proud to offer customers training and support through the training centers and Advisor Network," said John Buchanan, co-founder and executive vice president of business development at B2P. "The strong partnerships we've formed across the country complement the product and allow our customers to easily contact people who are familiar with the product."

"NonprofitBooks will become a real asset to the many nonprofit users of QuickBooks Pro and Premier. B2P created a software tool that is both cost-effective and powerful--especially in its treatment of expense allocations and FASB compliant reporting," said Dottie Johnson, Associate Executive Director/CFO of the Nonprofit Financial Center.

"By soliciting end-user input during the development process, B2P has created a unique product that is responsive to the real-world, day-to-day accounting issues facing nonprofit organizations," Johnson said. "This is a product we believe in--which is why we are proud to partner with B2P as the National Trainer for the `Train the Trainer' program."

NonprofitBooks is available through the QuickBooks Solutions Marketplace at http://marketplace.intuit.com, software resellers and directly from B2P at www.nonprofitbooks.com at a suggested retail price of $249 for a single-user package. Multiple-user versions are available at significantly lower costs per user.