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Good day, joangugg.
When you create a sales receipt or any sales transaction, it'll automatically reflect on the income account. That income account is the one you've selected when you set up the product or services.
You can review the product or services you used in recording the sales receipt. From there, we can update the income account.
You can follow these steps:
Once done, you can pull up the Profit and Loss report again.
Post again here if you have more questions. Stay safe and healthy!
Hello there, @ joangugg.
You’ll need to create both income and clearing accounts and a product/service item to record your non-profit donations in QuickBooks Online. Let me guide you how
In creating an income account, here’s how:
After, you'll need to create a clearing account. Follow the steps below:
Lastly, we’ll need to create a Product/Service item for each donation. Let me walk you through the steps:
Once accounts are set up, you can then record your non-profit donations.
Here's a recommended article for detailed steps and information about recording in-kind donations: Set up and record in-kind donations.
However, I would highly suggest speaking with an accountant for more guidance. They will suggest based on what’s more suitable for your business and to your books.
Please let me know should you have other questions with QBO. Update the thread by posting a comment below, and I'll be here to assist you. Have a nice day!
I appreciate this but I have imported my Quickbooks from Desktop version. I already have income accounts set up. I was told that I needed to you Sales Receipts to record the income (needed to be able to see donors). I have done that. I enter sales receipts and then make deposit for a batch. When I run transaction list by donor I get report needed to send receipts.
When I run P&L I get Services lumped together, expenses are find and listed as they should be. I have run several of the activity reports but can't get Income by account to show. I know I am missing something but am at a loss.
Good day, joangugg.
When you create a sales receipt or any sales transaction, it'll automatically reflect on the income account. That income account is the one you've selected when you set up the product or services.
You can review the product or services you used in recording the sales receipt. From there, we can update the income account.
You can follow these steps:
Once done, you can pull up the Profit and Loss report again.
Post again here if you have more questions. Stay safe and healthy!
Thanks for helping I really appreciate your help. Ok from what you are saying I believe I have done that. For instance -- General Donations. And I have class. Again when I have so many sales receipts I go to deposit and deposit all the to the Bank account it is supposed to go to. When I run P&L all it get is a total for services. I try filtering and then I can get sevices but they are in columns not rows.
I should also say that none of my original income accounts that were exported over are shown in the drop down box. Yet if I run a P&L statement for prior period all my income accounts show
Thanks for getting back, joangugg.
I suggest reaching out to our Customer Support Team so they can further check and assist you with it. You can follow these steps in getting in touch with them:
You can also check our support hours and types through this link.
I'll be here if you have more questions. Have a great day!
Again thank you for help. I think I have it figured out now. I went to the chart of accounts and realized my income accounts are no longer there! All historical data is and I can look an an account but it takes me to the register for the bank account. Now all this makes sense and I will make new income accounts and start the process.!!
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