QuickBooks, QuickBooks Training

QuickBooks is a software that offers different types of facilities to its users. One of its key facilities is that it allows users to enter and track donations in the form of cash, check, and credit cards. These are entered as donations to ensure that the taxes are used for year-end deductions. 

It is best to create a sales receipt form to create additional tracking options. This information will help you to save time in the case of an audit. Let’s discuss how to do that in this do-it-yourself article.

How To Enter A Non-Profit Donation in QuickBooks?

• First, you have to click on the “Non-profit” menu and head towards “Enter Donations (Sales Receipts),” which you’ll find in the drop-down menu. 

• You’ll see a list and here, you have to select the  “Customer: Job” drop-down arrow and select an existing donor or entity providing a grant.

Note – If you don’t already have a donor or grant, just click “Add New” to add a new donor. 

• Now you have to enter donors as Customers and grants as Jobs.

• There will be a list of donation types. You must select the item that matches your donation type.  

Note – If you don’t find your donation type in the list, create a new item by clicking the “Lists” menu and “item list”. Then head towards ” item” and click “new” to add a new menu. 

• Choose “Type” from the drop-down menu, followed by “Service.” 

• Click on the “Account” from the list and then you have to select an account to which the donation should be deposited.

• In the next step, select a fund or project for the donation in the class column. As an example, if you are creating the donation for charity, enter that the donation is made to a certain charity.
  
• You’ll be able to see the amount field where you have to enter the total for the donation. 

• Click “Customize” and then “Continue” if you want to add or remove any fields to make tracking easier.  

• Now, you’ll have the form. Click on the “Print” button on the sales form to print it. 

• Next you have to enter the account which will receive it. For this, you have to head towards the “Deposit to ” drop-down list. 

(This field may not exist if the donation is sent directly to a charity firm or organization). 

• Now you just have to click “Save & Close,” and you are good to go. 

Now, as you know how to enter or record donations in QuickBooks, it’s time to know how to track donations in QuickBooks Desktop. Let’s move on with that.

Learn About New Features in QuickBooks Enterprise 2022

How To Track Donations In QuickBooks?

In QuickBooks, you can easily track donations by using some simple steps. Track your donations by following the steps below. 

1. If you haven’t already changed your account type as a non-profit organization, change it. 

2. You have to create a revenue account in your chart of accounts to track the money you receive. For doing that, follow the steps below 

• Select Chart of Accounts from the Settings menu. 
• Then, to make a new account, click New.
• In the Account window, select the Account Type from the drop-down list. 

Note: In case you see a new category window instead of the Account window, it indicates that you’re creating a sub-account under a premade parent account. 

• There will be a drop-down list of detail types. Select the detail type from there that fits the transaction you want to track in the best way. In this case, select “non-profit income.” 
• Write a name and a brief description about your new account. 

Note – If it is a sub-account, select the sub-account category and enter the parent account. 

• Now you have to select when you want to start tracking. Enter the amount in the balance field and determine the as of date. For instance, if you want to start tracking from tomorrow, enter tomorrow’s date.
• Save and Close.

Create a fund donation item in QuickBooks

If you only receive money, you can set up a non-inventory part. You don’t need to create a new item every time you receive a fund.

Add your donor as a customer in QuickBooks

If you haven’t already, add the donor as a customer in QuickBooks.

5. Track the fund donation.

Get Help From QuickBooks Experts

Hope this article was helpful to you. Now you can enter and track a non-profit donation in the QuickBooks Non-Profit edition.

If you need assistance with how to enter donations in QuickBooks? Reach out to our toll-free helpline mentioned above and get instant QuickBooks desktop support.