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userpppatreasury
October 6, 2021
Question

For our non profit society,: We have in the bank account $10K. However, only $7K belongs to the member’s. can you show me how to set up a "payable to member’s"

  • October 6, 2021
  • 1 reply
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Non Profit Society: The members raise money through various fundraising. We have in the bank account $10,000. However, $7,000 of that money belongs to the member’s, not to our society. I’m not sure how to show the member’s portion. Can you show me how to set up a “payable to member’s” in Quickbooks so that members understand that not all the $10,000 belongs to them but only $7,000?

1 reply

J
JamesM4
October 6, 2021

Hi userpppatreasury, 

 

Recording your transactions the right way is a good exercise for preventing errors in your books. I'll be glad to steer you in the right direction so you can focus on doing the things you enjoy. 

 

To ensure accuracy in your books, I recommend contacting an accounting professional to get more info on recording the member's portion. Doing this will help prevent any future discrepancies in your books. You can also reach out to accounting professionals on our site using this link here. 

 

I'll also leave this question here so other accounting professional members can chime in. Let me know if you have other questions. I'm here to assist.

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