Tuition Scholarships
US QuickBooks Premier : 2011: Nonprofit
HOW TO RECEIVE PAYMENT FOR A CUSTOMER PAID BY AN ANOMOUS DONER
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2 Replies
RekaUjj
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Accountant Community AllStar
Advisory council of Accountant community power users.
02/25/11 3:53pm PST
I would record a credit memo for the customer for the whole amount using an item that points to Tuition Discounts (contra) income account. You probably want to type on the memo field that the tuition was paid by donor.
Separately I would record the Donation Income.
Or you might just want to record the Receive Payment and in the memo field type that it was received as a donation from a 3rd party.
Reka
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03/20/11 3:44am PDT
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I prefer Reka's first option. If you apply it directly to Receive Payments, the P & L will have understated donations.
