Earlier than a donor can declare a tax deduction for any single contribution of $250 or extra, the IRS requires a written acknowledgement of the contribution from the nonprofit group.  Nonprofit organizations sometimes ship these acknowledgments to donors no later than January 31 of the yr following the donation.

QuickBooks Premier for Nonprofits has a pleasant built-in report known as Donor Contribution Abstract which can be utilized by many nonprofits to organize their year-end donation acknowledgement statements.  Nevertheless, this report contains all income together with charges for providers that are not tax deductible.  However you’ll be able to create a customized report in QuickBooks that excludes these charges.  Listed below are the directions:

1. Go to Experiences > Customized Transaction Element Report

2. Click on on the Modify Report button

three. Choose your date vary, most definitely “Final Fiscal Yr”

four. Choose Money for report foundation

5. Choose Buyer within the Whole field

6. Test the columns you need on the report and uncheck the columns you do not need – on the very least I like to recommend utilizing Date, Title, Memo and Paid Quantity

7. Choose the Filters tab

eight. Choose Account within the Filter field, A number of Accounts within the Account field and test off the income accounts you need to embrace on the report

9. Choose the Header/Footer tab and alter the report title to Donor Contribution Abstract

10. If you’d like every donor printed on a separate web page, test the field subsequent to “Web page break after every main grouping” after clicking the Print field

11. After you have the report wanting the way in which you need it, click on on the Memorize button

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