Fixing Current & Prior Donor Deposits

Fixing Current & Prior Donor Deposits

Author: Desarie Anderson September 28, 2020 Duration: 10:59

Youtube Video https://youtu.be/XCS7Lk7Eots

https://nonprofitaccountingservice.com/ (404) 300-3175 desarie@andersonaccounting3.com 

Hi everyone and welcome to another demo video. 


In this video, I’m going to be demonstrating how to correct a donation that was entered on the deposit screen and therefore isn’t showing up on the sales by donor detail report

 

It’s important that the sales by donor detail report is accurate because this is the report that you use to create your quarterly and year-end donor acknowledgment letters. And as you know, donors want to be able to report 100% of their total donations.


I’m going to show you how to fix this issue based on 2 separate scenarios. In scenario one, the bank statement that shows the donations has not yet been reconciled therefore, the incorrect transaction can be deleted or voided.


In scenario two, the bank statement has been reconciled and therefore, you can’t void nor delete the transaction because you’ll be throwing your prior period reconciliation out of balance.


So let’s start with scenario one.


Navigating the unique financial landscape of a non-profit requires more than just software proficiency; it demands a clear understanding of the principles that govern charitable accounting. QuickBooks Online and Accounting For Non-profit Bookkeepers, hosted by Desarie Anderson, bridges that critical gap. This podcast delves into the practical application of QuickBooks Online specifically tailored for non-profit bookkeepers, moving beyond simple data entry to explore how the platform can be effectively structured to manage donor-restricted funds, program expenses, and grant reporting. Listeners will gain insights into aligning their bookkeeping practices with fundamental non-profit accounting standards, turning their software into a powerful tool for transparency and compliance. Each episode focuses on actionable strategies, from setting up the chart of accounts correctly to troubleshooting common reconciliation issues that arise when tracking contributions and functional expenses. Desarie draws from her professional experience to explain not just the 'how' but the 'why' behind the processes, empowering bookkeepers and financial volunteers to build accurate, meaningful financial records that truly serve their organization's mission. This is a dedicated resource for anyone looking to build confidence and competence in the specialized world of non-profit finance.
Author: Language: English Episodes: 5

QuickBooks Online and Accounting For Non-profit Bookkeepers
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