Grant with Matching Requirement

Good afternoon WebeRE!

Thank you for bringing your concern to the QuickBooks Community! I will be more than happy to assist you in setting up an in-kind donation as well as recording it. If you haven't already, the first step would be to set up the in-kind account in your chart of accounts. Here's how:

1. Go to Settings ⚙, then choose Chart of accounts (Take me there).
2. In the Filter by name or number field, enter In-kind donations.
3. If no account appears, you can now create an in-kind donations account. However, if you see an account named “In-kind donations”, your chart of accounts is already set up. You can then proceed to create a clearing account if that is the case.

From there, create the account using these steps:

1. Navigate to Settings ⚙, then select Chart of Accounts.
2. Select New.
3. In the Account name field, enter In-kind donations.
4. In the Account type ▼ dropdown, select Income.
5. In the Detail type ▼ dropdown, select Non-Profit Income.
6. Select Save.

You would now have to create a clearing account to help record these donations. 

1. Proceed to Settings ⚙, then select Chart of accounts (
2. Select New.
3. In the Account name field, enter In-kind Clearing.
4. In the Account type ▼ dropdown, select Bank.
5. In the Detail type ▼ dropdown, select Checking.
6. In the Opening balance field, enter the opening balance amount. Then, select the starting date in the Date field. The opening balance can be $0.
7. Select Save.

The last few steps would be the create the product or service item. 

1. Go back to the Settings ⚙, then select Products and Services.
2. Click New, then select Service.
3. In the Basic info section, enter the name, item type, and category of the item.
4. In the Sales section, select In-kind donations in the Income account ▼ dropdown.
5. In the Purchasing section, select I purchase this service from a vendor. You can add your product description or purchase cost as needed.
6. Select Create new.

Now we've got that part under control, the next process would be the record it! The steps involved would be to create a sales receipt and a bill, and then mark them as cleared. Do note that in some instances, you may have to add a fair market value/amount of the donation. The instructions for these can be found in the link below!

• Record In-Kind Donations

Please let me know if you have any difficulties. My team and I will be around. See you soon.