Created with Sketch.Learn about PPP and Loan Forgiveness, stay informed with the latest changes.
Created with Sketch.Need help with 1099's or other Year End topics? Visit our Year End Resources page.
Created with Sketch.New to QuickBooks or using a new product? Visit our Get Started resource page to help you get going.
Created with Sketch.Need to make changes to your account? Visit the Account Manager Portal.
cancel
Showing results for 
Search instead for 
Did you mean: 
Level 1

How can I track a specific project for my nonprofit? Example - Mental Health Film Fest with multiple donations. I need to allocate and track donations and expenses?

So I deposit 3 checks, $1000, $5000, $10000. All for the film fest. How do I allocate these funds and track the budget as expenses are paid?
1 Comment
QuickBooks Team

How can I track a specific project for my nonprofit? Example - Mental Health Film Fest with multiple donations. I need to allocate and track donations and expenses?

I'll share some steps on how to track the funds, brian-createreel.

 

When using Fund Accounting in QuickBooks Online, you can use Class tracking and banking sub-accounts to track individual funds.

 

Let's start by turning on the Class tracking feature by following these steps:

 

  1. Go to the Gear > Account and settings.
  2. On the left panel, select Advanced.
  3. In the Categories section, click the toggle icon to enable the Track classes feature.
  4. Hit Save and the Done.

After turning the feature on, you will see a Class field on transactions like deposit, invoices, etc.

 

Next, set up a separate Class for each fund to track it separately.

 

Here's how:

 

  1. Go back to the Gear locate in the upper right-hand corner.
  2. Under Lists, select All Lists.
  3. In the Lists page, click Classes.
  4. Click New and enter the name of a fund in the Name field.
  5. Hit Save.

Repeat the steps above to add each of the funds you need to track. When you're ready to enter the funds, you can create transactions like deposits or expenses. Then, select the appropriate fund in the Class field for the income or expense line affected.

 

If you have multiple funds, you can set up a different sub-account. Check out this article and go to Step 3: Track multiple funds with bank sub-accounts in this article: Fund Accounting for non-profits.

 

Finally, run a Profit and Loss by Class report to review income and expenses of your funds.

 

Here are the steps:

 

  1. On the left panel, click Reports.
  2. Under Business overview, click the Profit and Loss by Class.
  3. Select the Report period and hit Run report

I'll be around if you have any follow-up questions or other concerns. Thanks.

Sign in for the best experience
Ask questions, get answers, and join our large community of QuickBooks users.
Sign In / Sign Up

Need to get in touch?

Contact us