I have created a Project in QBO non-profit. I am trying to figure out how to track all the activity and I’m looking for advice. We are a voter registration organization, so we file FEC, not 990.
Here is the scenario –
We receive a large grant from a donor. I set it up as a Project. We award stipends to Chapters.
We have chapters and they are invited to submit proposals to receive stipends. The funds are put aside for each stipend awarded. For the Chapter to receive the funds, an individual from the chapter must pay for the promotions and then turn in receipts for reimbursement. We need to report the reimbursement to the individual, with their name, address, purpose, and payment as well the vendor’s name, address, and amount paid. If I put them as expenses to the project, I can get the information, but we really are not paying. I can make them billable to the payee, but do I issue an invoice? It seems I should issue a bill. I need to put the funds aside as soon as they are awarded – do I do that with a bill? The reimbursement usually is not paid out for a while, weeks to months later.
Also, each week, I need to report how much has been awarded and how much has been reimbursed and how much we left for awards.
