QB Issue Resolution:
Let me share this information with you.
Restricted contributions are donations received by an organization in which the donor restricts the use to a particular purpose. The two types were Temporary and Permanent.
For Temporary Restrictions, these were funds donated to a nonprofit that may be temporarily restricted. Temporarily restricted funds may be either time restricted or purpose restricted. If the donation is time restricted, the funds must be used in a specified manner for a period of time. While for Permanent Restrictions, a donor may place a permanent restriction on funds donated to the nonprofit. In contrast to temporary restrictions, permanently restricted donations use the interest accumulated on donated funds as financial support for an indefinite period. Provided the nonprofit uses the funds in a manner specified in the gift instrument, the funding is theoretically forever.
I highly suggest you seek your accountant’s advice on setting this up in QuickBooks.
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Resolution for Issue 'What is the definition of restricted donations (permanent and temporary)?' available: Yes (Solved).
Source: Intuit Community forum.
What is the definition of restricted donations (permanent and temporary)?: 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 definition of restricted donations
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