by Kathi
(Iowa)
How do I enter a non-cash contribution ie. a person buys cups for $12.50 and wants to donate them, but the church needs to track the expense.
3Comments
In kind donations
NNon-Profit bookkeeper
For your cups I would create an income account called Gifts in kind - goods and an expense account called Donated materials and supplies.
You would then create a journal entry and credit gifts in kind and debit donated materials.
In the memo field list cups you can also place the donors name in the name field and if you use classes assign the appropriate classes.
You would then create a journal entry and credit gifts in kind and debit donated materials.
In the memo field list cups you can also place the donors name in the name field and if you use classes assign the appropriate classes.
entering non-cash donations
AAnonymous
I am new at QB so I really nedd a more step by step process on entering a like-kind entry.
Where do i start? and the step by step. Thanks
Where do i start? and the step by step. Thanks
bookkeeper for a general contractor
AAnonymous
If they have a receipt it can be a like-kind donation that should go on their year-end tax deduction statement.