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Old 01-15-2009, 03:27 PM
beth_ann56 beth_ann56 is offline
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Tracking Grant/Government Sponsor expenses

A good portion of my organization's budget comes from local municipal funding, and the municipality wants us to account for the funds on the books. The funding partially covers salaries and program-related costs.

We currently track expenses by account and class, and we've tracked expenses covered by grants through the class system in the past.

I'm new at this, but my hunch is to track the municipal funding through the class system as well (like the grants)... but I am not sure how that transfers to the 990 at the end of the year.

Any thoughts or suggestions?
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Old 01-16-2009, 04:22 AM
JZeiger JZeiger is offline
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Create the municipality as a customer and each funding contract as a job. When you pay program-related costs, enter the amount that applies to the job as a line item and enter the job name on that row - deselect the billable check mark. e.g. if your phone bill is being tracked as a program-related cost, and the bill is 100.00 and 20.00 of that is related to this contract's terms, enter the phone bill as 100.00, then in the line items enter 80.00, followed by 20.00 on the next line with the job linked. For payroll, it's easier to do a journal entry at the end of the week or month - the steps are a bit complicated for a forum answer - you can find information on doing this in Running Quickbooks in Nonprofits, by Kathy Ivens.
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Old 01-16-2009, 03:26 PM
beth_ann56 beth_ann56 is offline
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Thumbs up

Thanks J! You are very helpful!
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