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M
MelLightbody
February 24, 2023
Question

Directions for recording in-kind donations don't make sense.

  • February 24, 2023
  • 1 reply
  • 0 views

Hi I have a question about the directions provided in the help article about creating in-kind donations.  I have cut and pa.  Step 4 says to select the income account, which I am able to do.  However, when I go to Step 5, it says to select "I purchase this product/service from a vendor".  When I do this selection, then it asks me for an expense account and takes away the option for an income account. 

 

Do I need to select both check boxes?  I sell this product AND I purchase this product? What am I doing wrong?  ty.

 

Quick Books Help for setting up in-kind donations

Step 4: Create a product or service item

  1. Go to Settings ⚙ and select Products and services.
  2. Select New and then Service.
  3. In the Product/Service information panel, add a Name and Description suitable for sales, pledge, or donation receipts.
  4. From the Income account ▼ dropdown menu, select the In-kind donations income account you created.
  5. Under Purchasing information, select the I purchase this product/service from a vendor checkbox.
  6. Select Save and close.

1 reply

DivinaMercy_N
DivinaMercy_N
February 24, 2023

Hello there, @MelLightbody. I want to ensure you'll be able to set up in-kind donations in QuickBooks Online (QBO) seamlessly.

 

Yes, you'll have to select the check boxes for Description and Purchasing information. This is to ensure you'll able to assign the item to the correct income and expense account. 
 

For reference, please check this article: Set up and record in-kind donations in QuickBooks Online.

 

Once done, the next step is to record an in-kind donation by entering a sales receipt and creating a bill. For the detailed steps, read this link: Record in-kind donations.

 

I'm always here ready to lend a hand if you have any other concerns about managing in-kind donations. Have a good one and stay safe.

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