I’m still working in my 30-day free trial of Non-Profit QuickBooks Online. One of the first challenges I’ve helped churches work through is how you handle all those church funds. I’ve seen two good solutions: 1)Track it all in the Equity section or 2)Track it in Equity AND Other Income. I show you this in the video below.
As an after thought, I wonder if it would work to set them up in the Liability section? Would this be better? It might help the church leaders see the obligation related to holding these funds.
- Sample Chart of Accounts for QuickBooks: https://www.dropbox.com/s/4e9rqb4mmswque1/Chart%20of%20Accounts.xlsx?dl=0