I use Quickbooks nonprofit 2007 currently My question is, I use the Enter Sales Receipt category to log donations but if a check is returned or lost at the bank, how do you reverse that donation so it does not show up in donor reports?
If you use a sales receipt do it through the check register. Select the donor in the name section and for the account select the income account they you normally use when you accept donations. Input the amount in the left column that says payment. This will reverse the revenue when you initially made the deposited it and remove the amount that the person donated from your reports. When they have enough funds do another sales receipt and deposit the check like normal. Hope this helps and good luck.
Thank you for posting a response. I tried in and it did not work. When you go to the customer center, you see both the credit and debit under the customer’s name but when you run the donor report, only the credits show. When you use sales receipt, the donations (receipts) are placed in the undeposited funds account until you make deposits. The income account associated with my item is the account I debited from in the check register but it was not affected.
I hope I explained this well. Looking forward to resolving this matter as I need to send out year end statements. Thanks!
I have the same situation as the original questioner does, the solution presented did not work either for me. This one has me baffled tried numerous things. Any help GREATLY appreciated.
If you are tracking customer, then use Credit memo for this. Use your item as you used before. A Credit memo is a negative sale, essentially. When you are done, let QB create a refund check. Put "NSF" on this check #. Now this check and the original deposit will balance, and the customer record is going to reflect this change.
If you aren't tracking customers, then you can simply use Write check from the income account to reduce the bank account and the income.
