I would recommend looking at the classification system in QB Desktop. If QBO is a necessity then you might have to get the top tier subscription but if you can function with the desktop version then you might be happier.
You can assign a 'class' (project name?) to anything you want. One person gives you a donation for 3 separate projects you can split their donation to the 3 'classes' you need. You can then run a balance sheet, trial balance or profit & loss specifically for one class (project), all combined or split out side-by-each.
I used this feature for a church group that chose one or two large community projects each year. General income and expenses were recorded without any class assigned, the special items were assigned to the project. They had a yard sale with 3 tables specifically raising fund for one project - the whole deposit went in the bank on one deposit slip - QB showed one line for the special funds classed to the project and the rest deposited - all funds into the same bank. Utility bill was paid with one cheque - split out a percentage for the project-specific usage. All expenses still into the same expense account but the ability to pull project specific details in a P&L is there with the classes.
QB Desktop is a far superior program to the online version.
