QB Issue Resolution:

Answer 1:

Thank you for reaching out to the Community. Don’t worry I am here to help you sort this out.

 

First, we need to check the set up of your account, to make sure its under non profit account. This will track as revenue and expenditures instead of expenses. I’ll guide you how to modify your account by following these steps below:

 

 

Change customers to donors:

 

  1. Go to the Gear icon, then select Account and Settings.
  2. Tap Advance on the left pane.
  3. Under Other preferences, click Pencil icon.
  4. Drop-down arrow from the Customer label, then press Donors.
  5. Click Save, then Done.

 

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Change income and expenses to revenue and expenditures:

 

  1. Go to the Gear icon, then select Account and Settings.
  2. Tap Advance on the left pane
  3. From the Company type, click the Pencil icon.
  4. In the Tax form drop-down arrow, select Nonprofit organization (Form 990). 
  5. Hit Save and Done.

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Once done, you’ll want to create an account by clicking the Chart of account.

 

Here’s how:

 

  1. Click the Accounting and choose Chart of Account.
  2. Press New.
  3. From Account Type drop down arrow and choose either Revenue or Expenditures.
  4. From the Details Type drop-down arrow and select the specific account.
  5. Under Name Put it as Non Profit AccountDescription is optional. 
  6. Click Save and Close.

 

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I’ve added an article for more visual guidelines on how to create a Non profit Account: Configure an account for a non-profit organization.

 

Answer 2:

This was very helpful in the first step.

The second step was already done – we are set up as a nonprofit

The third step did not take me to the option for a cash equivalent account. I am trying to record in-kind donations.

 

Thank you for the help so far!

Resolution for Issue 'my client frequently pays for items out of her pocket and I need to record it as a non-cash donation. I found instructions that discussed creating a cash / non-cash equivalent account. However, when I go to the chart of accounts, new – it is not an option. hopefully, my message will not be deleted this time.' available: Yes (Solved).
Source: Intuit Community forum.

my client frequently pays for items out of her pocket and I need to record it as a non-cash donation. I found instructions that discussed creating a cash / non-cash equivalent account. However, when I go to the chart of accounts, new – it is not an option. hopefully, my message will not be deleted this time.: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

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