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Tracking donations of non-inventory items

  1. Using a sales receipt, enter the sale of the non-inventory items for a $0.00 amount.

    Enter the name of the charity as the customer:job.

  2. Save and record the sales receipt.

  3. Before proceeding, find out the following information about the items you are donating.

    • Expense account that you used when you originally purchased the items

    • Value of the items

    Talk to your accountant about how to determine the value of the items.

  4. Assign the donation to your Charitable Contributions account by entering a general journal transaction.

    Using the value of the donation, debit the Charitable Contributions account and credit the expense account you used when you originally purchased the items. In the following example, $50 is debited from the Charitable Contributions account and credited to an expense account named "Office Supplies."

Debit

Credit

Charitable Contributions

$50

Office Supplies

$50

See also

KB ID# H_V_CHARITABLE_DONATIONS_NONINVENTORY
12/10/2016 8:06:13 PM
PPRDQSSWS407 9138 Pro 2017 a46c1c