Hello, @AmithS.
You can track donations in the form of cash, check and credit cards. Let's first create a clearing account and associate with it the donation you've given.
Here's how:
- Go to the Lists menu.
- Choose Chart of Accounts.
- Click Account then select New.
- Select the Bank as the account type, then select Continue.
- Enter the name (for example, Charitable Contributions).
- Click Save & Close.
Once completed, you can now create a Charitable contributions discount item. This will be linked to your Charitable contributions expense account.
To create a discount item, here's how:
- Go to List.
- Choose Item List.
- Click the Item drop-down arrow at the bottom of the Item List window.
- Select New.
- Click the Type drop-down, choose Discount.
- Enter the Description and the Amount or % of the discount.
- Choose which account in the Chart of Accounts will the discount be mapped.
- Select the Tax Code of the Discount.
- Click Ok.
Now, we can create a sales receipt which includes the donated stocks and the donation item we've initially created.
Lastly, you can consult with your account so you'll be guided accurately in tracking your donations.
For more insights about managing your transactions, you can read through these articles:
Feel free to leave your comments below if you have other questions. I'm just a few clicks away.