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August 16, 2022
Question

Can I convert the sales receipts to deposits? I manage a non-profit charity and have been recording all money donations as sales receipts. I think deposits are better?

  • August 16, 2022
  • 1 reply
  • 0 views
I feel that recording my donations as deposits rather than sales receipts gives a more meaningfull picture as I haven't actualy sold anything.

1 reply

August 16, 2022

Hi there, @Moray Baby Bank. I've got your back, and I'll be happy to share some details about your concern so you can proceed and choose what's best for your business here in QuickBooks Online (QBO).

 

Please be aware that it's not possible to convert your sales receipts to deposits in QBO. However, you can change the accounts in your sales receipts so you can post them in the undeposited funds. This way, you'll be able to transfer the funds from the Undeposited funds and then make deposit.

 

If you wish to continue with this method, I'll be glad to input the steps below so you can proceed. To begin, here's how:

 

  1. Access your QuickBooks Online company.
  2. On the left navigational bar, go to the Sales tab.
  3. In the All Sales section, click the Filter button and then select Sales receipt in the transaction type.
  4. Manually edit each sales receipt by clicking on them, and then change the account to Undeposited funds in the Deposit to section.

 

Once done, you can make deposit to move your funds from the Undeposited funds account to your bank account. Here's how:

 

  1. Tap the New menu in the upper left to select Bank Deposit under Other.
  2. Click the Account drop-down to select the correct bank.
  3. In the Select the payments included in this deposit section, tick the boxes for the transactions you’re going to deposit.
  4. Hit Save and close to keep the changes.

 

Other option is to just use deposit instead of using sales receipt to record money donations in QBO. You can refer to this article for more information: Record and make bank deposits in QuickBooks Online.

 

You can also seek your consultant's advice. This way, they can provide you with the best possible way of handling money donations in QuickBooks Online.

 

In addition, I've got you this article to help you handle donations or charitable contributions in QBO: How to record donations or charitable contributions.

 

You can also check this page to learn more about tracking funds receive from donors in QBO: Track funds you receive from donors in QuickBooks Online.

 

Should you need further assistance managing donations in QBO? Or do you have any additional QuickBooks-related concerns? Our door is open 24/7, and we'll be more than happy to have you here in the Community again, @Moray Baby Bank. Thanks for choosing QuickBooks. Take care, and more power to your business!