We run a small non-profit. Three times a year we host a fundraising event. People from the community will attend, and buy food, purchase tickets for games/rides, etc.... At the end of the day, we might have thousands in cash, collected $2-$5 at a time, and from hundreds if not thousands of attendees. How do we record the deposit in QBO? Specifically, I'm getting hung up on the PAYEE. It was many payees, none of who we can identify.
Hello, nkastner.
I’m here to help and guide you on how to properly record your deposit from fund raising event who purchase ticket sales.
There are two ways in recording the fund in QuickBooks Online. You can create and send the sales receipt to the customer as a statement of their purchase.
Or, you'll have to create a bank deposit if you only need to enter the money purchase to your organization. If you've already created a sales receipt o pledge for the donation, you don't have to enter a deposit anymore to avoid duplicate transactions.
With regards the name of Customers/Payees. We can create a single profile to represent all the customers/payees. Otherwise you have to create separate customer profile for each SR/sales.
To learn more about this topic, feel free to read this article: Track funds you receive from donors.
I'm also adding a reference that will help you record the goods, services, and assets you've received as a donation: Set up and track in-kind donations.
Drop a comment below if you have additional questions. I’m more than happy to answer them for you. Wishing you and your business continued success.
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