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arkvalleyinfo
December 11, 2018
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How to enter the donations received every Sunday at church? and how to record the deposit in QB after we deposit the cash+checks to the bank?

  • December 11, 2018
  • 3 replies
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When I enter the donations by Donation (Sales Receipt), what is the" item" for?

and what is that? why not the chart of account?

    Best answer by john-pero

    Quickbooks uses Items , or products and services, to identify individual transactions that may need tracking but can all be part of a whole. You do need to use at least one item, even if you just call it Donations and it posts to Donations in your COA. But with items you have the advantage of being able to split donations to any of several targets that are all part of general fund. IN addition you can direct, by item, any designated funds that must be held separately.

    As an illustration you could have the following Items

    General Fund Donation

    Building Fund

    Sunday School

    Missions

    Advent

    Easter

    And you could also set up any specific items for memorials or any other reason that the parishioners donate.

    I presume you are using  one sales receipt per donor so that you can give them quarterly and annual reports. The destination account for the "Sales Receipt" should be Undeposited Funds and then you create the Deposit by selecting all the included payments of cash and check

    3 replies

    john-pero
    john-peroAnswer
    December 11, 2018

    Quickbooks uses Items , or products and services, to identify individual transactions that may need tracking but can all be part of a whole. You do need to use at least one item, even if you just call it Donations and it posts to Donations in your COA. But with items you have the advantage of being able to split donations to any of several targets that are all part of general fund. IN addition you can direct, by item, any designated funds that must be held separately.

    As an illustration you could have the following Items

    General Fund Donation

    Building Fund

    Sunday School

    Missions

    Advent

    Easter

    And you could also set up any specific items for memorials or any other reason that the parishioners donate.

    I presume you are using  one sales receipt per donor so that you can give them quarterly and annual reports. The destination account for the "Sales Receipt" should be Undeposited Funds and then you create the Deposit by selecting all the included payments of cash and check

      T
      tanyagoldy
      December 11, 2018
      I added Sales Receipt as Undeposited Funds, then made the deposit. Now , when I open  COA and click to Tithe & Offerings  I have doubled records 1 under undeposited Funds  and another  under Checking account (deposit from  online banking)
      qbteachmt
      qbteachmt
      December 11, 2018

      "When I enter the donations by Donation (Sales Receipt), what is the" item" for? and what is that? why not the chart of account?'

      Items control the flow of the data to the accounts and allow for Better tracking and reporting.

      Example: You collections include Hurricane Relief Donations. That Service Item links to your regular Restricted Income account, but you use that item for the Donation receipts and for the Giving, and now you can report on Hurricane Relief specifically, as Item-based reports. The Accounting is not micro-managed for various Missions and purposes, in other words.

      "how to record the deposit in QB after we deposit the cash+checks to the bank"

      You do this After the following:

      "how to enter the donations received every Sunday at church?"

      You track the giving, and then you address the Various destinations of funds. That means you can Summarize the day on one sales receipt, like this:

      Daily Sales Summary Desktop for Retailers by Long

      Or you want to track it Per Donor Name, for meeting your specific requirements for reporting.

      Or, some of each.








      H
      HartleyBookkeeper
      December 13, 2018

      If I am tracking individual donor's donations via sales receipt, how do I handle a returned check?  Specifically, how do I get the donation off of the donor's giving record?

      qbteachmt
      qbteachmt
      December 13, 2018

      To enter a Reversal of a Sale (Sales Receive/Donation or Invoice/Pledge), you use your donation item on a Credit Memo.

       

      Then, you either apply that to the unpaid open invoice; or, you use it to Refund the money from the Credit Memo, directly. That isn't a real refund, of course, to reflect a Bounced Check. It simply is a posting to banking to reflect the lost amount from the initial deposit that is too high or reflects the return of the funds when the bank pulled back the bounce. It's your Banking Bookkeeping entry, not a check to send the funds anywhere, in reality.

        MaryLandT
        MaryLandT
        January 26, 2022

        Let me help you keep track of individual donations, stpaulmbcf2-gmai.

         

        You can add a new account to track donations or use the existing one on your Chart of Accounts. 

         

        Here's how to create an account.

         

        1. Go to the Lists menu, then select Chart of Accounts.
        2. From the Account ▼drop-down, select New.
        3. Select an account type, then select Continue.
        4. Complete the account details.
        5. Click Save & Close.

         

        Once done, assign it to the donation item. Then, use the item when you create a sales receipt.

         

        You can also consult your accountant to make sure your books have accurate accounting records. If you don't have one, please visit this link: https://quickbooks.intuit.com/find-an-accountant/.

         

        Scroll-down at the bottom of the page, you can see there the Select a Country which you can change if necessary.

         

        Don't hesitate to leave a comment below if you have follow-up questions about this. Just leave a comment below, and I'll get back to you.

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