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We are a non-profit corp (church) and occasionally receive donated equipment and services (i.e. musical instruments and pest control services). So far, I've only found answers for the QB Online product, which are confusing since I'm using QB Desktop- Premier Plus Non-Profit Edition 2021. I have already set up the following accounts: "In-Kind Clearing" (bank account), "Items Donated" (other asset account), "In-Kind Income" (income account), and "Labor or Services Donated" (expense account). I've also set up a "Non-Cash Contribution" Item (other charge type) which is linked to my "In-Kind Income" (income account)- I've attached a screenshot of this item. Please help me record In-Kind donations accurately in QB Desktop!
Hi there, Waples.
Similar to QuickBooks Online, you can also record donations in QuickBooks Desktop using a sales receipt.
Let me share these steps with you on how to track the donations that were given to you:
If you're using the QuickBooks Premier edition, you can run the nonprofit reports within the program. Just go to the Reports menu, scroll-down to Industry Specific, and then select Nonprofit Reports.
Just add a reply below or reach out to us again if you need anything else. We're always here to help.
JenoP,
On a similar support topic for the Online version, it instructed me to enter a bill to offset the sales receipt. Your suggestion didn't include entering the bill. Why?
Thanks for your prompt response, and I appreciate you for showing us further references, @Waples.
I want to share insights about how to record donated services in a non-profit corp. My peer, @JenoP, provided you with the sales receipt as an answer to account for the received equipment.
And yes, you're correct. When recording in-kind donations (donation of assets), you'll need to create a bill for that.
For more details and to see the process, I encourage you to check this article: Recording in-kind donations received.
Moreover, it would be best to check with your accountant for professional advice to make sure you've accounted for the transactions accurately. You can also find a ProAdvisor near your place.
Let me know if you need more clarifications about recording donated services in QuickBooks Desktop Premier or other concerns using the system. I'm grateful to help. Stay safe, and have a great weekend!
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