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Experienced Member

Crediting a budget item.

I have a budget expense account called "Wednesday Meal".  We pay to have a Wednesday meal from this account.  We receive donations at the meal to offset the expenses of the meal.  How and where do I enter the donation income to properly show how much real time expenses I have in "Wednesday Meal"?

3 Comments
QuickBooks Team

Re: Crediting a budget item.

Hi @JOE NEAL,

 

You'll need to enter your expense account in the Category Details section of your transaction. Let me add some details and help you further.

 

To correctly credit your expense account, you can choose to enter it on the Category Details of your transaction. This way, it'll show your real-time expenses on the account.

 

Here's how you can credit your expense:

  1. Click on the Plus (+) icon.
  2. Choose Expense.
  3. Enter the vendor name.
  4. In the Category Details section, choose your expense account.
  5. If you have an item, enter it in the Item details section.
  6. Click on Save and Close.

Once done, you can pull up a quick report of your expense account to show the expense you've made.

 

 

Please know that I'll be here if you have any other questions.

Experienced Member

Re: Crediting a budget item.

As a novice, I do not think this is what I am talking about so I will explain.  In my church budget for the year I have an expense item entitled: "Wednesday Night Meal" with a set yearly budget.  People attend on Wednesday and donate to the meal expense.  I then need to take the donations and show somehow that besides using budget money that week on the meal I also have donations to offset the expense so I won't go over my yearly budget.  I don't know if this is the best way to explain or not.  As a novice, I need very simple directions.  Sorry!

QuickBooks Team

Re: Crediting a budget item.

Hello there, JOE NEAL.

 

A budget is a non-posting transaction while the donations are posting transactions. Thus, we can't use the donations to adjust the budgeted amount (which is non-posting).

 

In connection with this, I'd suggest setting up a clearing account. You can use this account in moving money from one account to another account. 

 

Kindly refer to this article for the detailed steps: Set Up a Clearing Account.

 

You can get back to us if you have further questions. We'd be glad to help you anytime.