Let me help you properly record and track transactions under Pledges and Accounts Receivables, Grthomp.
When you create your company in QuickBooks Online (QBO), specific default accounts in your chart of accounts are created depending on the business entity you selected.
For non-profit organizations, the separation of pledge and invoice to automatically assign as Accounts Receivable or Pledge Receivable is unavailable. The default account of the nonprofit is Pledges Receivables where future promises to give made by donors are being tracked automatically. If you want to track your Accounts Receivable or move the invoices to an A/R account, you can create a journal entry instead. To do so, follow the steps outlined below:
- Go to the + New.
- Select Journal entry.
- On the first line, select an account from the Account field. Depending on if you need to debit or credit the account, enter the amount in the correct column.
- On the next line, select the other account you're moving money to or from. Depending on if you entered a debit or credit on the first line, enter the same amount in the opposite column.
- Check the amounts - you should have the same amount in the Credit column on one line and the Debit column on the other. This means the accounts are in balance.
- Enter information in the memo section so you know why you made the journal entry.
- Click Save and new or Save and close.
However, I still recommend reaching out to your accountant for other ways how you can track them to both accounts.
In addition, Quickbooks offers reports that cater to your business needs. You'll only have to filter them to make sure that the right data shows on your end. I've added this article for reference: Customize Data In QuickBooks Online.
Reply to your comment below if you need further assistance when tracking accounts. I'll always be right here to assist.
