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Join nowI would like to know if there is a way to just add what the members donated without effecting our current balances. My Church used Roll Call to track member donations and then used QB to track everything else. Now they want to use QB to track everything. We have about 8 weeks of donations to enter but all the deposits have already been made.
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Thanks for getting back to this thread, @doowrenum. Let me add some insights about the account type to use for clearing accounts in QuickBooks.
Normally, when setting up a clearing account, it is best to use a bank account type because of the following reasons:
If you wish to use the income account, you'll not be able to select the transactions for clearing. With this, I suggest consulting an accountant for other ways on how to handle this.
Additionally, let me share this resource to better understand the accounts used in QuickBooks: Learn about the chart of accounts in QuickBooks.
Fill me in if you have other concerns with selecting an account type to use in QuickBooks. I'll be happy to lend a helping hand. Have a nice day ahead.
Glad you visited the QuickBooks Community, @doowrenum,
Let me share some insights and help you handle the member's donation in QuickBooks Desktop. Please note that adding entries in QuickBooks will always affect the account balances. Cash inflow and outflow will increase or decrease the balance in the registers and will be reported on financial reports.
Use a service item named donations with the donation income account selected on the item screen.
Fill out the item fields.
Then, you can enter sales receipt or invoice to record the donation. The account used on the service item will determine which account register it gets posted to. To avoid affecting your account balances or post the deposit twice, you can use use a journal entry and add a clearing account.
To create a clearing or wash account, use these steps:
After creating the journal entry, you can make the clearing account inactive, so the system will zero out its balance. Here's how:
Learn how to manage your chart of accounts, using this link: Add, edit, or delete accounts in QuickBooks Desktop
If you have other questions or concerns with adding member donations, please post them here. I'll be right here to help you further. Have a good one!
So since we have to record past donations and we are using cash instead of accrual, should the clearing account type be an income account?
Thanks for getting back to this thread, @doowrenum. Let me add some insights about the account type to use for clearing accounts in QuickBooks.
Normally, when setting up a clearing account, it is best to use a bank account type because of the following reasons:
If you wish to use the income account, you'll not be able to select the transactions for clearing. With this, I suggest consulting an accountant for other ways on how to handle this.
Additionally, let me share this resource to better understand the accounts used in QuickBooks: Learn about the chart of accounts in QuickBooks.
Fill me in if you have other concerns with selecting an account type to use in QuickBooks. I'll be happy to lend a helping hand. Have a nice day ahead.
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