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Thebkkb
March 12, 2022
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Non profit - Equity account for donor restricted, donor unrestricted funds?

  • March 12, 2022
  • 1 reply
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Hi there,

How to set up an equity account for donor restricted, donor unrestricted funds?

In Quickbooks Online, what is the best "detail type" account to use to set up an equity account for donor restricted, donor unrestricted funds? 

See attached picture, thank you.

 

 



Best answer by giobookkeeping

Hi Thebkkb, 

 

Personally, I wouldn't be bother much with the detail types when creating chart of accounts in QBO. Unlike account types, detail types don’t impact the actual accounting portion of your books. Detail types are there to help you choose the right account type, especially if you’re new to accounting. 

 

When I'm caught in a situation where I'm unsure what detail type to use, I usually go with the closest or most neutral one. In this case (with equity accounts), I go with Owner's Equity. Hope this helps! 

1 reply

G
giobookkeepingAnswer
March 26, 2022

Hi Thebkkb, 

 

Personally, I wouldn't be bother much with the detail types when creating chart of accounts in QBO. Unlike account types, detail types don’t impact the actual accounting portion of your books. Detail types are there to help you choose the right account type, especially if you’re new to accounting. 

 

When I'm caught in a situation where I'm unsure what detail type to use, I usually go with the closest or most neutral one. In this case (with equity accounts), I go with Owner's Equity. Hope this helps! 

T
ThebkkbAuthor
April 18, 2022

@giobookkeeping 

Thank you for coming back to me! That was helpful :)

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