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BPRCtreasurer
June 25, 2024
Question

recording in-kind donations in QBO for nonprofits

  • June 25, 2024
  • 1 reply
  • 0 views

I need to record an in-kind donation in QBO for nonprofits. Per the instructions, I set up the account, added the donor/customer, and created a sales receipt. When I tried to create a bill for the item, the vendor list doesn't include donors and you can't add an existing donor as a vendor

 

Can anyone tell me what I'm missing?

1 reply

J
jeanbiverly_
June 25, 2024

Let me assist you in adding a donor successfully while creating a bill, @BPRCtreasurer.

 

In QuickBooks Online (QBO), donors are added as vendors when setting up and recording in-kind donations.

 

If you're unable to add an existing donor as a vendor, it could be due to identical names. You can differentiate them by adding a middle initial, for example.

 

Also, you can keep track of fund donations received via credit card, bank transfer, or cash by referring to the article: Track funds you receive from donors in QuickBooks Online.

 

Let me know in the comments below if you have any other QBO-related concerns. I'm always willing to help. Take care and have a good one!

B
BPRCtreasurerAuthor
June 26, 2024

Thanks, but I already found this advice and I don't believe it applies to my problem.

 

I followed the QBO instructions for setting up an in-kind donation and it says to setup the donor as a customer who then gets a receipt. In general, QBO for nonprofits treats donors as customers. The final step is to create a bill for the donor as a vendor. Or at least that's how I interpreted the instructions. 

 

Does it matter if the same individual person is identified on both transactions, for end-of-year reporting, etc.?

K
KimberlyS
June 26, 2024

You're on the right track to recording in-kind donations, BPRCtreasurer. Let me discuss this matter thoroughly for clarification.

 

In QuickBooks Online, you create sales receipts and bills when recording in-kind donations. Therefore, setting up an individual as a customer and vendor is essential for recording the corresponding transactions. Having the same person identified as a customer and a vendor for in-kind donations doesn't necessarily cause problems for end-of-year reporting as long as the sales form captures essential information for tracking the donations.

 

On the other hand, I always recommend consulting a qualified accountant familiar with non-profit accounting practices for complex situations or specific reporting needs.

 

Moreover, you can utilize these resources for guidance on generating and modifying various reports to have an overview of the financial status of your business:

 

 

Consider tagging me whenever you need further assistance recording donations in QuickBooks Online. I'm always around to provide relevant instructions to address your concerns.

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