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Deb-J
Level 2

Restricted donation

I am running QB Desktop Accountant 2022. How do I recorded a restricted donation from a single donor so that it shows as restricted on the Statement of Financial Position?

Thanks!

Deb

Solved
Best answer May 27, 2022

Best Answers
Kevin_C
QuickBooks Team

Restricted donation

I appreciate you for laying out your concern here in the Community, @Deb-J. I'll make sure you'll be able to record a restricted donation in QuickBooks Desktop (QBDT).

 

QuickBooks doesn't have a direct means to track restricted funds, but we can do this using classes and assigning all restricted funds to a class. 

 

  1. Click the Edit menu, then choose Preferences.
  2. Select Accounting, then go to the Company Preferences tab.
  3. Select the Use class tracking for transactions checkbox.
  4. If you want a reminder when you haven't assigned a class, select the Prompt to assign classes checkbox.
  5. Click OK.

 

Then, let's set up a class category for expenses and accounts. Here's how: 

 

  1. Go to the Lists menu, then select Class List.
  2. From the Class ▼ drop-down menu, select New.
  3. Enter the class name. For example, if you want to create a single Restricted Funds group and then add subgroups of restricted funds types, enter "Restricted Funds".
  4. If it's a subclass, select the Subclass of checkbox and find the class you've created.
  5. Click OK to record and close the window.

 

I'm adding this article for more details: Set up and use class tracking in QuickBooks Desktop.

 

To keep track of them, you can run and customize class-related reports in QBDT. For more details, please review this article: Filter, sort, or total reports by Class

 

  1. Click the Reports menu.
  2. Select Company & Financial.
  3. Select the Profit & Loss by Class report, then click OK to run the report.

 

In addition, feel free to check out this article to learn more about how to customize reports in QBDT. This way, you'll be able to pull up the desired details for your reports: Customize Reports in QuickBooks Desktop

 

Should you need any additional assistance while tracking your restricted donation in QBDT, you can leave a comment below. I'll be sure to get back to you. Take good care!

View solution in original post

1 Comment 1
Kevin_C
QuickBooks Team

Restricted donation

I appreciate you for laying out your concern here in the Community, @Deb-J. I'll make sure you'll be able to record a restricted donation in QuickBooks Desktop (QBDT).

 

QuickBooks doesn't have a direct means to track restricted funds, but we can do this using classes and assigning all restricted funds to a class. 

 

  1. Click the Edit menu, then choose Preferences.
  2. Select Accounting, then go to the Company Preferences tab.
  3. Select the Use class tracking for transactions checkbox.
  4. If you want a reminder when you haven't assigned a class, select the Prompt to assign classes checkbox.
  5. Click OK.

 

Then, let's set up a class category for expenses and accounts. Here's how: 

 

  1. Go to the Lists menu, then select Class List.
  2. From the Class ▼ drop-down menu, select New.
  3. Enter the class name. For example, if you want to create a single Restricted Funds group and then add subgroups of restricted funds types, enter "Restricted Funds".
  4. If it's a subclass, select the Subclass of checkbox and find the class you've created.
  5. Click OK to record and close the window.

 

I'm adding this article for more details: Set up and use class tracking in QuickBooks Desktop.

 

To keep track of them, you can run and customize class-related reports in QBDT. For more details, please review this article: Filter, sort, or total reports by Class

 

  1. Click the Reports menu.
  2. Select Company & Financial.
  3. Select the Profit & Loss by Class report, then click OK to run the report.

 

In addition, feel free to check out this article to learn more about how to customize reports in QBDT. This way, you'll be able to pull up the desired details for your reports: Customize Reports in QuickBooks Desktop

 

Should you need any additional assistance while tracking your restricted donation in QBDT, you can leave a comment below. I'll be sure to get back to you. Take good care!

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