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How to Record In-Kind Donations (Non-Cash Donations) in QuickBooks
Need to record a donation of goods or services to a nonprofit organization in QuickBooks as an In-kind donation.
Record services preformed (Labor, Clerical work, ....).
Record items that have a value (computers, furniture, ...).
In-kind donations are recorded as a General Journal Entry in QuickBooks.
Accounts you will want to have set up first: (Recommended but not required).
In-Kind Income (income account).
Labor or Services Donated (Expense).
Items donated (Asset).
Create a Journal Entry in QuickBooks.
Company>Make General Journal Entires....
Enter the date of the donation, and Entry number.
amount for the donation you are recording.
field with any additional information on donation.
Enter the customers name (for whom the donation was received from) in the
if using Class Tracking.
Next enter the
account (depending on the donated item or service).
amount will be same as
(Unless more the one service or asset is received from same customer, then Split debits accordingly. Make sure
can be left blank (as it is tied in to income already).
If tracking by class, enter a
Save and Close
Save and New
is adding additional General Journal entries.
KB ID# SLN44103
5/21/2013 4:39:44 PM
QYPPRDQBKSWS08 9090 Pro 2012 c2c3ae