In this article, you read how to “Record In-kind Donations in QuickBooks“. Donations made in kind can be recorded by passing a simple journal entry within QuickBooks.
How to Record In-kind Donations in QuickBooks
Solution 1: Need to Setup Some of the Accounts
- Setup In-kind income account under Income account.
- Setup services donated account under Expense account.
- Setup items donated account within Asset.
Solution 2: Now Pass a Journal Entry within QuickBooks Company File
- Locate the journal entries tab under your company file and enter the date when you got the donation.
- Now select the account (In our case it would be In-kind income) wherein you want to credit the donation amount. Enter the figure in the box provided.
- If you want to enter any further details then enter the same within the Memo’s filed.
- Provide the name of the person from whom you received the donation. The name will go in the name field section within QuickBooks.
- Now enter the relevant Asset or Expense account and feed in the amount on the debit side of the column.
- Click save and close the window and your donations will be recorded successfully.
If you need any further help or still struggling to “Record In-kind Donations in QuickBooks” then talk to our QuickBooks Consultant. Give us a call or connect through chat, raise your issue and your query will be taken care of instantly.