Let me guide you on how you'll be able to track grants, agrace1.
Receiving grant funds is vital to continue and advance your mission. And yes, you're right, you can use Class tracking and banking sub-accounts to track individual funds. First, turn on class tracking. I've provided the steps below:
- Select Settings ⚙.
- Select Account and Settings.
- Select Advanced.
- In the Categories section, select edit ✎.
- Turn on Track classes.
- Select Save.
- Select Done.
Then, set up a class for each fund. This enables you to track the grant separately. Here's how:
- Select Settings ⚙, then All Lists.
- Select Classes.
- Select New, then enter the name of a fund in the Name field.
- Select Save.
Next, track multiple funds with bank sub-accounts. Follow the procedures below:
To set up sub-accounts:
- Select Settings ⚙, then select Chart of Accounts.
- Select New and do one of the following depending on which panel you see.
To give your more detailed steps on how you're going to do fund accounting, I've attached this article for more information: Fund Accounting For Non-Profits.
Furthermore, QuickBooks provides you with different kinds of reports that give the information that you need. You'll just have to customize them so you'll be able to get the data that you want. Go through this article so you'll know how: Customize Reports In QuickBooks Online.
If there's anything else that you need about tracking grants, let us know we can get back to you as soon as possible. Remember, we're always right here to further assist you.
