How to record in kind donations in quickbooks pro 2016-17

How to record in kind donations in quickbooks pro 2016-17

How to record in kind donations in Quickbooks

Donations made in kind can be recorded by passing a simple journal entry within quickbooks.

  1. Before recording the in-kind donations within your quickbooks company file you would 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.
  2. Now pass a journal entry within your quickbooks company file.
    • Locate 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 within quickbooks then talk to our quickbooks certified professionals. Give us a call @1800-940-7442 and raise your issue and your query will be taken care of instantly.


 

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