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Ruth Perryman
How to Book Donated Products and Services in QuickBooks
Published 05/21/2012 | 
I hope you don’t mind, but I have what a hope is a quick question. I volunteer at a non-profit horse rescue and sanctuary) and I try to help with their books.
We are having an issue and don’t know how to handle it in QuickBooks correctly.
We have a number of vendors who provided services and products, submitted invoices for the services / products, and then basically told us not to pay the invoices and consider the services / products donations.
How is the best way to handle this? Do we enter each invoice and mark it as a donation? If so, how would we do it?
Do you have a better idea?
I am not a bookkeeper. Our CPA does not use QuickBooks and just needs us to break out the numbers correctly.
Any help or advice you can give would be greatly appreciated. Thank you so much!
Be careful not to value the donation on the donor acknowledgement. The IRS doesn’t allow it. Not to mention services are never tax deductible. Simply describe what you received with no value.
Here’s a blog post I wrote that describes it in more detail:
Written by +Ruth Perryman, CMA, CFE, CFM, MBA
Ruth has provided QuickBooks help to thousands of businesses around the world since 1996. She is an Intuit Solutions Provider, an Advanced Certified QuickBooks ProAdvisor, and a member of the Intuit Trainer/Writer Network. She is also certified in QuickBooks Point of Sale and QuickBooks Enterprise Solutions.
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How to Find Products with Zero Quantity in Stock in QuickBooks
Published 05/20/2012 | Advanced inventory adds multiple warehouses, serial or lot number tracking (not both), and FIFO.
Written by +Ruth Perryman, CMA, CFE, CFM, MBA
Ruth has provided QuickBooks help to thousands of businesses around the world since 1996. She is an Intuit Solutions Provider, an Advanced Certified QuickBooks ProAdvisor, and a member of the Intuit Trainer/Writer Network. She is also certified in QuickBooks Point of Sale and QuickBooks Enterprise Solutions.
QuickBooks price list | Buy QuickBookse | Free trial of QuickBooks POS | Free trial of QuickBooks Enterprise
How to Import Transactions from Excel into QuickBooks
Published 05/19/2012 |
Written by +Ruth Perryman, CMA, CFE, CFM, MBA
Ruth has provided QuickBooks help to thousands of businesses around the world since 1996. She is an Intuit Solutions Provider, an Advanced Certified QuickBooks ProAdvisor, and a member of the Intuit Trainer/Writer Network. She is also certified in QuickBooks Point of Sale and QuickBooks Enterprise Solutions.
QuickBooks price list | Buy QuickBookse | Free trial of QuickBooks POS | Free trial of QuickBooks Enterprise
News Flash – How will Memorial Day (Monday, May 28, 2012) Affect My QuickBooks Payroll Processing
Published 05/18/2012 | To allow for the Memorial Day holiday, you might need to send payroll a day earlier than usual. Doing so will help you to comply with the Fair Labor Standards Act and ensure timely payroll tax payments.
If your normal paycheck date is on 5/28/12, you should:
- Change your paycheck date for your direct deposit employees to Friday, 5/25/12.
- Send your payroll by 5 PM Pacific Time on Wednesday, 5/23/12.
If your paycheck date is immediately before or after Memorial Day, consult the table that follows to find out when to send your payroll and when your account will be debited.
*Accounts are typically debited before regular banking hours, so you should make sure you have funds in your account to cover the payroll on the day before the actual debit occurs.
Written by +Ruth Perryman, CMA, CFE, CFM, MBA
Ruth has provided QuickBooks help to thousands of businesses around the world since 1996. She is an Intuit Solutions Provider, an Advanced Certified QuickBooks ProAdvisor, and a member of the Intuit Trainer/Writer Network. She is also certified in QuickBooks Point of Sale and QuickBooks Enterprise Solutions.
QuickBooks price list | Buy QuickBookse | Free trial of QuickBooks POS | Free trial of QuickBooks Enterprise