Recording donations in quickbooks online

Good day to you, Lisa R5,

I can help ensure you're able to record fund donations in QuickBooks Online. First, you'll need to create a revenue account to track the money you receive from donors.

Let me show you how:

1. Go to Settings ⚙, then select Chart of Accounts.
2. Select New to create a new account.
3. In the Account Type ▼ drop-down list, choose an account type.
4. In the Detail Type ▼ drop-down list, select Non-Profit Income.
5. Give your new account a name (Fund donations).
6. You can use the info under the detail type to add a name that fits.
7. Click Save and Close.

Second, create a fund donation item so you can select one when you write a sales receipt.

1. Go to the Sales menu, then select the Products and services tab.
2. Click New.
3. Select Non-inventory or Service.
4. You can call this item “Fund donations.”
5. Don’t forget to use the revenue account you set up above.

Third, add your donor as a customer.

Lastly, track the fund donation by creating a bank deposit. Since you split this entry between two accounts, you'll want to add another line item for the second account.

You can also visit this page for complete steps and detailed instructions: Track funds you receive from donors in QuickBooks Online.

Stay in touch with me if you need anything else with QuickBooks. I'm always right here to make sure you're able to track donations.

Should I create a fund donation item for every type of payment we receive so I can map it to the correct account in our chart of accounts?  For example if I have five different types of payments I received, general donation, bequest, conference registration, loan payment, and restricted donation, I would create a "fund donation" item as a non-inventory item for each of those and then map it to that account on the chart of accounts?