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How to easily post a 'skim off the top' income transaction?

Posted by BPE bookkeeper 
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BPE bookkeeper
How to easily post a 'skim off the top' income transaction?
October 05, 2015 12:35AM
Hi QB Experts,

Thanks for entertaining my question.

We have a non-profit and just set up quickbooks to record our transactions.

We receive donations which are usually designated for particular projects. A portion (5%) of each donation is assigned to our operating fund while the remaining 95% is assigned to the designated project.

How do I show 1) the total donation; 2) the 5% skimmed as an expense to the project; and 3) the 5% shown as income in the operating fund?

thank you.
BPE bookkeeper
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Michael Davids
Re: How to easily post a 'skim off the top' income transaction?
October 08, 2015 04:24PM
Hello,

Non profits have designated funds which this is about. Honestly I don't want to give wrong advise on this & I'm not sure of the answer on this one sad smiley



Edited 1 time(s). Last edit at 10/08/2015 04:25PM by Michael Davids. (view changes)
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