QBO for Churches and Non-Profit Organizations - book not consistent with current QBO Sample

by Jan Cook
(Bullard, TX, USA)

We are just now starting our chapel and purchased two of the books recommendations. In reading the QBO for Churches and Non-Profit Organizations, it refers to a sample company on-line that you should use as you read the book.

However, the screens in the book are not like the on-line example at all. The Home screen is called Dashboard. It refers to a menu showing customers, vendors, etc. and the menu shows Revenue, Expenses, etc.

Also, one thing I cannot find in either of the books is how to record the donation of land in QBO. Thanks for your help.

Comments for QBO for Churches and Non-Profit Organizations - book not consistent with current QBO Sample

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Dec 16, 2019
new address for QBO test company
by: Lisa London, CPA

Hi Jan. Sorry for the confusion. QBO keeps changing screens and they finally changed their test company. The new address is https://qbo.intuit.com/redir/testdrive
It doesnt work on the Edge browser, so I recommend using Chrome.
That one should look much closer to the current QBO.

Good catch on my missing how to record land. You would treat it similar to a Like-Kind donation. Make a general entry to debit a fixed asset account (Land) and credit a Donation Income account (In-Kind Donation, Land Donation, etc.) at the appraised or current market value.

I hope that helps and thanks for reading my books!

Dec 16, 2019
Land Entry
by: Anonymous

You are saying to record the land, it's just a journal entry. How do I tie it to the donor of the land? Thanks for your help.

Dec 16, 2019
Noncash Donation
by: Vickey

I'm assuming you are asking how would you record the donation of land as a Sales Receipt in QB to track and send a receipt for the noncash donation.

Lisa may be able to chime back with a better answer, but personally I would not record the donation like that in QB.

I would record the in-kind donation like Lisa stated... in a journal entry, but you can not put a value on a noncash donation receipt.

So I would send or hand them a noncash receipt similar to this example:

https://www.freechurchaccounting.com/noncashcontributionreceipt.html

Also ....I STRONGLY urge you to consult a knowledgeable tax professional before accepting a real estate donation as there are a lot of issues/requirements to be aware of when accepting a real estate donation.

You should let your donor know what they will need to do to claim the real estate donation on their personal tax return.

If the land is valued over 5k, they will be required to get a qualified appraisal of the property, performed by a qualified appraiser and file IRS Form 8283.

The church may be required to complete and sign Section B of that form.

You will need legal advice if you decide to sell it and even if you keep it and derive income from it...you could generate "Unrelated Business Taxable Income" that you would require you to file a 990T and pay taxes on.

If you have already accepted the land donation...consult a tax professional ASAP...if you haven't already =)

Dec 16, 2019
Land Donation
by: Jan Cook

The land was donated to build the church on as we are just now starting the actual church (after a year or so of getting the corporation formed, non-profit status, and other legal paperwork completed). The land was accepted last week and it was donated by a corporation, not an individual. We realize that it is their responsibility to get the appraisal and they are working on that. Once we get the appraisal, I just wanted to record the property correctly but didn't know if there was a way to show it in QBO tied to the donor name of the corporation (or if it should be tied to the donor name). Thanks again for your response.

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