Most all churches and nonprofit organizations have to deal with in-kind donations at some point. (In-kind donations are gifts of tangible and intangible personal property and donations of services.)
How and when to record those donations confuses many church/nonprofit bookkeepers. To add to the confusion...there are times when you should record the in-kind donation in your accounting books...BUT not issue a contribution receipt to the donor =(
For example, a nonprofit organization's landlord is feeling particularly generous and reduces your rent $500 a month. You could and probably should record the in-kind gift in your accounting records; BUT, you cannot issue a contribution receipt for the reduced rent!
See how to record that in-kind gift and other in-kind donations in your accounting records and when you should and should NOT issue a contribution receipt for those gifts...
Save 10% on the resource book: Using QuickBooks Online for Small Churches and Nonprofits by using the discount code: FCA
You can also bundle the QBO book with our "How To book" for even more details on handling contributions, minister compensation, etc. Just click on the radio button that says: Add Church Accounting: The How-to Guide and save $5 under the
