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Join nowWe are a small nonprofit using QB DT Pro 2019. We received a noncash donation of gift cards from a large business. The gift cards are to be used at the donor's business to purchase supplies for the nonprofit. I am at a loss how to enter donation. Any help for a QB beginner would be appreciated. Thanking in advance.
I'm here to in entering the donations you've received, KHardee.
I also want to thank you for choosing QuickBooks Desktop as one of your partners in running your business.
To track your non-cash donation, we'll have to set up an income and clearing account for charitable contributions first, then create a product or service item for the donations. I'll guide you in doing the whole process.
First, let's create an income account:
Second, let's set up a clearing account:
Then, we can now create a dedicated item for your donations. You use Non-Inventory Part as the item type. Once done, we can now enter a sales receipt and create a bill for the donation, then mark the bill as cleared to record the non-cash/in-kind donation.
Step 1: Enter a sales receipt.
Step 2: Enter a bill.
Step 3: Mark the bill cleared.
I'd still recommend reaching out to your accountant to know that what's the best way of handling it according to the nature of your business and be guided in this process.
You can also read this article if you'll be processing a credit card donation in QuickBooks Desktop.
I'll be right here to continue helping if you have further questions about donations or any other concerns. Have a pleasant day ahead.
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