
Track donations and charitable contributions in QuickBooks
by Intuit•8• Updated 3 weeks ago
Learn how to track different types of donations, whether you're receiving funds from donors or making charitable contributions. This article provides guidance on recording cash donations, product/service donations, and in-kind donations, for accurate financial records and tax reporting.
🛈 This article is for customers who use QuickBooks Online (Simple Start, Essentials, Plus or Advanced). |
Track funds you receive from donors
If you receive donations or funding from donors, you need to properly categorise them as income. Follow these steps to track fund donations in QuickBooks Online:
Record donations or charitable contributions
If you donate cash, products, or services, it’s important to record them properly to reflect your company’s expenses and tax-deductible contributions.
Record the donation of products or services
If you donate products or services that you normally sell, you must record the donation to properly reflect your income and expenses.
Important: If the amount you’re writing off as a donation significantly affects your gross sales, consult an accountant before making this entry.
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