How do I track donors and funds that are donated to our nonprofit through a fiscal sponsor?
We are a very small nonprofit and just started using quickbooks online pro. We have been receiving donations for the past 4 years through our fiscal sponsor. Now we are applying for our own 501c3 tax-exempt status and need to submit financial reports with our application. I am trying to enter all the financial data from my spreadsheets into QuickBooks. Do I track individual donors and donations as they were received by our fiscal sponsor? If so, how do I handle the sponsor's 10% commission? Or do I enter the income as it comes in to our bank from the sponsor's account?