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PaulSykes
June 5, 2022
Question

How to expense gifted funds

  • June 5, 2022
  • 1 reply
  • 0 views

We have a church budget for each department but are having difficulties trying to expense monetary gifts for a department without affecting their budget.

Also, do you recommend expensing budget funds or gifted funds first?

1 reply

L
LeizylM
June 5, 2022

Hi there, PaulSykes.

 

I'm here to make sure you'll be able to record expense gifted funds in QuickBooks Online.

 

For this situation, it would be best to consult with an accountant to see if issuing a sales receipt for the purchase of a gift card will affect your accounting. If you don't have an accountant, no need to worry! QuickBooks offers a ProAdvisor service where you are able to connect with experts within your area.

 

Here's how: 

 

  1. Select this link: Find an accountant.
  2. In the Find an expert section, choose what you're looking for, then use your search field to enter a City or ZIP code.
  3. Click Search.
  4. Look through the options and select one that suits your need.

 

For future reference, read through these articles that provide information about handling your sales, customers, and reports:

 

 

Feel free to message again if you have additional concerns. We're always here to help. 

 

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