How to Enter Donations and Grants in QuickBooks
I just started using QuickBooks 2011 and am trying to figure out how to enter simple donations and grants received. Could someone please take me step-by-step through how to do both of these functions? Thank you!
Here are the step-by-step instructions for how to enter donations and grants in QuickBooks:
- Go to Lists > Chart of Accounts and create two revenue accounts – one for donations and one for grants.
- Go to Lists > Item List and create two service items – one for donations and one for grants using the appropriate revenue account.
- When you receive a donation or grant, go to Customers > Enter Sales Receipts using the items you created above.
- When you make the bank deposit, go to Banking > Make Deposits and select the payments you’re depositing.
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.