Account Management
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I am the Treasurer for a Canadian charity and I use QB Premiere Desktop. Recently a donor donated a number of expensive jackets. Most of them were given out as awards to local community volunteers. A few were offered for purchase to our Board members. I created: - a bank account called 'in-kind clearing' - an income account called 'in-kind donations' -an item called 'jacket' with the FMV But here is where I have the problems. - how do I record the donation? Just deposit to 'in-kind clearing' credit to 'in-kind donations'? -how do I record the purchases of those jackets from our inventory to the individual board member buyers? Clearly these are not tax receiptable. - how do I record the movement of these jackets from 'in-kind clearing' to our volunteer awards? Thanks Glen Wolgemuth, Treasurer
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