How to record donations for Nonprofits

Hi there, tdodson101.

I'll help you in handling this transaction.

There are two ways in tracking the fund donation in QuickBooks Online. For the donation you've received right away, you can create and send the sales receipt to the donor as a statement of their donation. If your donor promises to donate at a later date, you can record a pledge instead.

Lastly, you'll have to create a bank deposit if you only need to enter the money donated to your organization. If you've already created a sales receipt o pledge for the donation, you don't have to enter a deposit anymore to avoid duplicate transactions.

In this case, you'll need to delete one of those transactions to ensure that your reports and records are accurate. Here's how:

1. From your Budget vs. Actuals report, select the total amount of the donation.
2. Find the duplicate transaction, then click its amount to expand the view.
3. Select More at the bottom, then choose delete.
4. Hit Yes to confirm the changes.

To learn more about this topic, feel free to read this article: Track funds you receive from donors.

I'm also adding a reference that will help you record the goods, services, and assets you've received as a donation: Set up and track in-kind donations.

If I can be of any further help, don't hesitate to drop me a comment below. I'll be right here to keep assisting.