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How do you record a "Donation in Kind" in a corporate, when there are no $'s involved?
Hi Cheryl!
I don't know the details of the donation itself, but I can give you some general information!
In your transaction entry screen, you will enter a zero-dollar withdrawal. So, you will enter your withdrawal with your normal date, reference, and description, but leave the total as 0.00 so that no money is withdrawn from the bank account.
You can then structure the entry in the details that will essentially create the entry. There will need to be at least 2 off-setting lines. One line I would assume will be an expense account to book the donation itself. The item I don't' know, since I don't' know the details of the transaction, is what your offsetting account will be.
If you know the offsetting account, then the two lines should offset each other, and the transaction could be recorded. You also have the option to enter this as a journal entry. Using the transaction entry screen is just an alternate way to do a journal entry.
Let me know if you need anything else!