How do you record gift aid

Hi julie.jeffery@tf, I'll help record the gift aid.

In QuickBooks Online, you can create an expense and a new expense account to track gift air declarations. I'll show you how.

1. Go to Accounting.
2. Select Chart of Accounts.
3. Click New.
4. Under Account Type, select Expenses.
5. On the Detail Type menu, choose the category for gifts accordingly.
6. Enter the name of your new expense account. Say Gift Air Declarations.
7. Select a VAT code if applicable.
8. Click Save and Close.

Once done, go ahead and create an expense transaction using the recently created expense account above by following the steps in this article: Enter and Manage Expenses in QuickBooks Online.

However, I still recommend contacting your accountant for guidance in choosing the appropriate category for your account. Use this link to find someone you can work with: Accountants or Bookkeeper Near Me.

You may also read this reference for other ways to track gift declarations: Sell and Redeem Gift Cards or Certificates in QuickBooks Online.

I've got you covered if you have questions about other than recording gift declarations. Just leave a comment below using the Reply option. Take care always!

Hi Julie,

Whilst I'm new to this and trying to work it out myself, I don't think JonpriL's answer is correct.

I'm presuming that you work for a UK charity and would be claiming Gift Aid on incoming donations. Therefore, the Gift Aid would be recorded using an Income account under Account Type, not an Expense account.

Whilst I'm not an expert, I expect to use the Detail Type option for Non-Profit Income, giving it a Name such as Gift Aid Income.

Kind regards,

Phil.