Could you use projects instead of class for fundraisers?

Mrjan · ‎November 20, 2018

Nonprofits use Class to designate fundraisers because you can't post payments received from multiple sources to a Job. I have always looked at classes as permanent (like a department) while we have annual fundraisers. I have access to a nonprofit's QBO but do not want to turn on projects to test it until I am certain it will do what I need.

Could we use a project to replace class for individual fundraisers? Thanks

HoneyLynn_G · ‎November 20, 2018

Good day, @Mrjan.

I can share some insights about the project feature in QuickBooks Online.

Yes, you can use Projects as a replacement for the Class setup. The Projects feature allows you to organize and manage your transactions, time, and running reports.

Here's how to turn it on:

Click the Gear icon.
Select Account and Settings.
Choose Advanced.
Go to the Projects section.
Check the Organize all job-related activity in one place box.
Click Save and Done.

For in-depth information about the project feature, you can refer to these articles:

That should do it, @Mrjan. Keep me posted if there's anything else you need. The Community is always here to help you out! Have a good one.

View solution in original post

HoneyLynn_G · ‎November 20, 2018

Good day, @Mrjan.

I can share some insights about the project feature in QuickBooks Online.

Yes, you can use Projects as a replacement for the Class setup. The Projects feature allows you to organize and manage your transactions, time, and running reports.

Here's how to turn it on:

Click the Gear icon.
Select Account and Settings.
Choose Advanced.
Go to the Projects section.
Check the Organize all job-related activity in one place box.
Click Save and Done.

For in-depth information about the project feature, you can refer to these articles:

That should do it, @Mrjan. Keep me posted if there's anything else you need. The Community is always here to help you out! Have a good one.

foggyethan · ‎April 22, 2019

I'm wondering how you resolve the issue of making a deposit to a Project while accurately reporting from whom it was received. When I edit the deposit's "Add funds to this deposit" line items, whatever I specify for "RECEIVED FROM" overwrites whatever I put into the "CUSTOMER" (i.e. project) field. So I have money coming from Person X for our fundraiser, but I have to stick "Person X" into the memo field and set received from to be the fundraiser.

Thanks!

-- Ethan

Anonymous · ‎April 23, 2019

Hi there, Ethan.

Currently, recording a deposit to a project at the same time reporting where it was coming from is unavailable. You’ll need to enter the project name under RECEIVE FROM to track the funds under the project. Though, this will auto-populate the CUSTOMER/PROJECT field. Entering the customer’s name on the memo filed is your workaround. You can also enter this information under DESCRIPTION.

I’ll also make sure to take note of this feature and share this with our engineers for future updates.

Drop by again if you have other questions.

Rosa3 · ‎February 21, 2020

I have a similar problem: how do we record funding for an event (project) from different sources (i.e. local authority, local business, etc.)? It would be great if QBO had a facility to cater for this situation.

RaymondJayO · ‎February 21, 2020

Yes, there's a facility in QBO to cater for your situation, @Rosa3. You can use class tracking to help you track the funds for your project from different sources.

First, make sure to turn on the Projects feature as shared by HoneyLynn_G above. Then, create the project name of the event.

Second, let's enable the class tracking feature from the settings. This lets you categorize your accounting transactions. I'll guide you how.

Go to the Settings (Gear) icon at the upper right.
Select Account and Settings.
Choose Advanced.
In the Categories section, click the Pencil (Edit) icon.
Select the Track classes checkbox.
Choose Save.
Hit Done.

Third, set up classes for your different sources, such as local authority or local business. Here's how:

Go to the Settings (Gear) icon at the upper right.
Select All Lists under Lists.
Choose Classes.
Click New.
Enter the name of a fund in the Name field, such as local authority.
Hit Save.
Repeat the process for your other sources of fund.

The screenshot below shows you the fourth to sixth steps.

Fourth, let's go to Projects from the left menu and select the event. Then, choose a fund transaction, such as invoice, in the Add to project drop-down. Enter the necessary details. You can choose the appropriate class in the Class field as seen in the screenshot below. Just repeat the steps for your other classes.

To learn more about the process above, go through this article: Fund Accounting For Non-Profits.

As always, you can run the Profit and Loss reports by Class report. This lets you review your fund income and expenses in the program. Just go to Reports from the left menu and enter the report name.

I'll be right here to help if there's anything else you need. Have a great day, @Rosa3.

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Could you use projects instead of class for fundraisers?