Welcome back to the QuickBooks Community, Feelwells. I'll be sharing steps to ensure you can record your transaction in QuickBooks for doing the distribution for a calendar smoothly.
When you make donations or charitable contributions, how you record them depends on the type of donation you've made. With this, I reccomend creating an invoice for the product or service so that you can record the income.
Here's how:
- Click the + New button. Then, choose Invoice.
- From the Customer dropdown, select a customer.
- Choose the invoice date. You can also change the due date in the Terms dropdown arrow.
- From the Product/Service column, select a product or service.
- Enter a quantity, rate, and change amount.
- Fill in another necessary field. Then, click Save and close.
Once done, create an account to use to record charitable contributions. Then, make a product/service item for charitable contributions. Please follow the steps below.
- Go to Gear icon ⚙. Then, select Products and services under Lists.
- Choose New.
- In the Product/Service information panel, select the type of product or service.
- Enter a Name for the item (for example, Charitable Contributions).
- Select the I sell this product/service to my customers option checkbox.
- Select the Charitable Contributions account you created from the dropdown list in the Income account field.
- Click Save and Close.
After that, issue a credit note for the value of the products or services you're donating. You can open this article to see the steps on how to perform the process: How to record donations or charitable contributions. This also provides details on how you can finish the instructions for recording charitable transactions.
On the other hand, you can add the delivery charge you've mentioned when the time you'll deposit the transactions. This way, it will keep or remain in your account to cover the costs of the distribution.
Lastly, you may refer to this article to see information on how to run various reports in QuickBooks that will give you a snapshot of your business: Run reports in QuickBooks Online.
I'll be around whenever you have other follow-up questions about recording transactions in QBO. You can just click the Reply button below add them to your reply and I'll take care of them for you. Stay safe and have a great day!
