Record In-kind Donations in QuickBooks

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.