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SusanG97227
October 7, 2024

Sales received to fund a donation?

  • October 7, 2024
  • 1 reply
  • 0 views

Hello - 

 

We are a nonprofit organization that operates a summer camp.  Last summer we sold art in order to raise funds to donate to a Hawaii disaster relief fund.  I have recorded the dollars received from the sales as a bank deposit going to a miscellaneous revenue account.  Should the donation check to the relief fund be recorded as an expense going to a separate expense account or as a debit to the miscellaneous revenue account where the dollars received were recorded?

 

thanks,

Susan

    1 reply

    kabel1657
    kabel1657
    October 8, 2024

    Hello @SusanG97227,

     

    You should record the donation check as an expense in a separate expense account, not as a debit to the miscellaneous revenue account. This way, the sales and donations are appropriately tracked. The revenue from the art sales is income, and the donation is an expense, so keeping them separate ensures transparent financial reporting.

     

    P.S.: I’m a QuickBooks ProAdvisor with 7+ years of experience. Need help with QuickBooks Bookkeeping?

     

    Google my username to see my proven track record!

      S
      SusanG97227Author
      October 9, 2024

      Thanks for the help. 

        MorganB
        MorganB
        October 9, 2024

        I'm so glad to see you found the answers you were looking for here in the Community, SusanG97227. 

         

        You may also be interested in a new service from Intuit called QuickBooks Live Expert Assisted. Here you can connect with accounting agents who will be able to assist you with more in-depth accounting questions. 

         

        You're always welcome here in the Community as well if you need a hand again in the future. Take care!

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