Accounting for Restricted Gifts and Grants
Join us as we visit Ocean Bird Rescue (a make believe organization) where they must keep track of several restricted gifts and grants. We'll demonstrate how they use QuickBooks Online for grant accounting, including...
- Grants where cash is received in installments over time
- Charging expenses to a grant, including payroll expenses
- Indirect costs allowed in a grant
- Reimbursement grants
- Matching grants
- Scholarships paid by a grant
- Capital purchases paid by a grant
- Grant income when a third party receives the funds and pays expenses on your behalf
Plus you will learn how to
- Keep track of restricted funds where many donors contribute for the same purpose
- Run grant reports for donors
- Run reports for internal management purposes
- Use QuickBooks Projects, or not
We'll give you plenty of tips for managing restricted grants, especially when you have multiple grants.