We use the QuickBooks Non-profit. We are currently raising money for a kitchen renovation. I am not sure how to set it up in the chart of accounts and item list. One person has pledges $2,000.00. The $1,000 she will pay in Feb and the next $1,000 to be paid by June.
First create a revenue account called something like Pledges or Donations. Second, create a service item called the same thing using the revenue account you created.Then create two invoices (Customers > Create Invoices) for the pledges, both dated the day of the pledge – one with a due date of 2/1/12, the other with a due date of 6/1/2012. When you receive the payments, make sure to use Customers > Receive Payment.
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This article is provided for informational purposes and is not intended to be construed as legal, accounting, or other professional advice. For further information, please consult appropriate professional advice from your attorney and certified public accountant.
Written by +Ruth Perryman, CMA, CFE, CFM, MBA
Ruth is the president of The QB Specialists, an Intuit Premier Reseller that offers huge savings and expert advice on QuickBooks POS and QuickBooks Enterprise. She is an Advanced Certified QuickBooks ProAdvisor and a member of Intuit’s Trainer/Writer Network. She is also certified in QuickBooks POS and QuickBooks Enterprise and has provided expert QuickBooks help to thousands of businesses all over the world since 1996.
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