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Join nowI’m reworking my classes to conform with nonprofit accounting standards. I want to be able to produce a Statement of Activities report. In order to differentiate between transactions With Donor Restrictions and those Without Donor Restrictions it’s been recommended that I use locations. Setting it up is easy. The hard part is when we are matching bank transactions and have income that has some income from one category and some from the other. I can only select one location. How is everyone getting around this limitation?
I'm happy to know that you use QuickBooks for your non-profit business, Steve!
Yes, you're right that we can only assign one Location per bank transaction even if you split the amount. I'll guide you to record your transactions, so you will see the split of a donation into two locations on your reports.
Our workaround for this is to manually create the splits in QuickBooks. Meaning you will record two transactions (sales receipts) so you can assign the respective location for each of them. Make sure their Deposit to fields are set to Undeposited Funds, so they won't directly post to your bank register. Then, combine them into one via Bank Deposit, and that will become a matching entry to your downloaded transaction. That will do it.
You can run your Statement of Activities report after entering one or two transactions to see the result. And speaking of reports, you can check out the article about customizing them.
We're just right here if you need more help with your transactions. More power to your business!
Thanks for the response. We don't use sales receipts any more. We just split the transactions in the banking feed and assign it to the appropriate GL account and class. It seems like it would be a lot more work to have to create a sales receipt to break out each donation group then create a bank deposit and match everything up. Why are there so many steps? Is there any way to do this in fewer steps?
I wish QBO allowed for each of the split transactions to be categorized individually both on a class level as well as location. And for tags as well.
Hey there, @steve-fitzgerald.
Thanks for following up with us. I'm happy to provide additional information about your class and location set up.
At this time, the solution provided by my colleague above would be the best option for the split of a donation into two locations to show on your reports. However, I can see how having extra steps can cause frustration during the process. I've submitted a feedback request to our product development team on your behalf, so this can be considered in a future update.
Feel free to let me know if you have further questions or concerns. You can always reach out to the Community or me anytime you need a helping hand. Take care!
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