Recording fundraising transactions in Quick Books
As a fundraiser for our school, the Church purchases Gift Cards in bulk thru GL Scrip Program. Our cost is less than the face value for which the cards are sold. The company sends us the proceeds which I understand is considered a donation. There has been some inconsistency on how all this is recorded. What would be considered the proper way to enter these transactions?
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If you want to DIY your payroll, I highly recommend you look at using Gusto! It is very user friendly and their support is awesome! Plus they know how to set up and maintain payrolls for churches and nonprofit organizations.
Note: I am a "partner" of Gusto, but as I have told you before ... I never recommend anything that we or our clients have not tried and love =)
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