Full Version: Quickbooks - donations

From: Cody (BOBTNAILER) [#1]
 4 Jan 2006
To: ALL

Howdy!

We've just finished engraving a bunch of silicone wristbands for a local fundraiser (for a cancer patient).

Because cancer has been a major part of our life (with my daughter), we have decided to donate these bands to these folks. They have set up a "non-profit" account for tax purposes.

Here's my question: In Quickbooks, how do you show that the products were donated? I know that I can write a check, and charge it against the "Contributions" account, but I don't know how to show PRODUCTS against that account.

We're using QB 2003 Premier.

Thanks!


Cody

EDITED: 4 Jan 2006 by DGL

From: trophyman (MIKEBERGER) [#2]
 4 Jan 2006
To: Cody (BOBTNAILER) [#1] 4 Jan 2006

Cody,

You need to setup a donation catagory in your items options.
Type = "discount", Item Name = "donation" , Description = "Merchandise Donation", Amount = 100% or whatever percentage you want. Account = Contributions. Before applying the donation amount you need to take a subtotal of the invoice items and then in the item column enter donation and it will give you a donation amount equal to the subtotal amount.

From: Cody (BOBTNAILER) [#3]
 4 Jan 2006
To: trophyman (MIKEBERGER) [#2] 5 Jan 2006

Aaaahhhh...so it's the same as applying a discount?

That was tooo easy. Thanks for the help!!

EDITED: 4 Jan 2006 by BOBTNAILER

From: trophyman (MIKEBERGER) [#4]
 5 Jan 2006
To: Cody (BOBTNAILER) [#3] 5 Jan 2006

Glad to be able to help. Several years ago I took the ARA seminar on Quickbooks and the person doing the presentation got really ticked that I was answering questions that she could not. I have used it since it was first introduced. I only wish that it handled the assemblies better. (i.e.) If we could break down the quantities that we are purchasing our sheet stock into the units that we are selling it in.

From: Cody (BOBTNAILER) [#5]
 5 Jan 2006
To: trophyman (MIKEBERGER) [#4] 6 Jan 2006

Have you upgraded to the 2006 version yet (or do you intend to)?

From: Rob (AWARDZZ) [#6]
 5 Jan 2006
To: trophyman (MIKEBERGER) [#4] 6 Jan 2006

Good day Mike;

I have just installed 2006, and I have a very stupid question...for accounts receivable... does one just put a total amount or do you list all outstanding receivable jobs from previous year...same with payables?? I guess my question is.... will the software allow figures to come in from previous year, (2005) even if this is the first time we are using the software.
Thanking you in advance.

Rob Simpson
PlayAll Awards & Engraving
(on the snowy southern shores of Lake Erie)
Ashtabula, OH

From: trophyman (MIKEBERGER) [#7]
 6 Jan 2006
To: Cody (BOBTNAILER) [#5] 6 Jan 2006

As of the present I have not looked at the 2006 version, so I am not sure if it is worth the additional cost for me to update to it.

From: trophyman (MIKEBERGER) [#8]
 6 Jan 2006
To: Rob (AWARDZZ) [#6] 6 Jan 2006

I am not familiar with the 2006 version. My best ques though is that it would import the information that you have for the previous years as the earlier versions have, allowing you to enter either the individual transactions or a beginning balance.

From: Cindy (CINDYM) [#9]
 6 Jan 2006
To: trophyman (MIKEBERGER) [#4] 6 Jan 2006

Mike - I think I was at that seminar and thank you for answering all those questions! If it is the seminar I am thinking of, it was the lamest I've attended and many unhappy attendees afterwards on the preparedness of the person presenting. Next time they brought someone from Intuit in. Am I thinking of the right one? I try to go to all the Quickbooks seminars just to pick up small tips - I always do and we've been using QB for years. Cindy M

From: trophyman (MIKEBERGER) [#10]
 6 Jan 2006
To: Cindy (CINDYM) [#9] 6 Jan 2006

You got it.

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