QB Issue Resolution:
You would not micro-manage accounts for tracking a specific event. The activity of that event still falls in the realm of your tax filing and reporting = it still is part of the accounting activity.
For Planning and Budgetary purposes, you can Budget by Class and Budget by Job.
And the better method is to use an Estimate, for planning by Job. The activity for that year’s event might start happening this year, for instance. Budget is a Fiscal Year concept. Estimates are for the Lifecycle of that project.
So, for Performance tracking and baseline establishment and performance reporting needs, I would set up the Event as a customer name, use my items (labor, services, other charges, etc) and create an Estimate for it. Then, as you incur the costs, make the ticket or attendance sponsorship sales, etc, you use the same Two-sided Item(s), Job Tracking (expense purchases would be Not Billable, of course) and now you can run Est vs Actuals, and even P&L by Job, for reporting.
Resolution for Issue 'We hold an annual convention that has income and expenses. The budget committee doesn’t want the convention to be in the next budget. How can I do this?' available: Yes (Solved).
Source: Intuit Community forum.
We hold an annual convention that has income and expenses. The budget committee doesn’t want the convention to be in the next budget. How can I do this?: 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.Support for accounting activity
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