I have recently set up Quickbooks Online for our non-profit community band, and have set up two bank checking subaccounts in the COA under our linked checking account - "Unrestricted" and "Restricted - Equipment". This is in line with step 3 of https://quickbooks.intuit.com/learn-support/en-us/help-article/accounting-standards/fund-accounting-.... Before anyone asks, I also set up two matching classes, as described earlier in that article.
My question is how to handle depositing into these separate subaccounts when really only one physical bank deposit transaction occurred - a deposit into the parent bank checking account. Let's take an example of a member who paid their $40 dues (lands in Unrestricted), and then donates another $100 - $75 for the Restricted and $25 for Unrestricted. I would create a Sales Receipt with 3 line items, depositing into Payments To Deposit.
- $40 - Membership Dues (class Unrestricted)
- $25 - Donation (class Unrestricted)
- $75 - Donation (class Restricted)
The first problem comes when creating a Bank Deposit later. A Bank Deposit only goes into one checking account, and Quickbooks only shows a single Sales Receipt to add - the total $140 paid by the member. I cannot split the Sales Receipt to be deposited into separate Bank Deposits, if I were to make one Bank Deposit going into the Unrestricted subaccount and another Bank Deposit going into the Restricted - Equipment subaccount.
Even worse, even if I manage to somehow create two Bank Deposits - maybe without using a Sales Receipt to begin with, but just adding category records attributed to the donor, or by creating two Sales Receipts to the donor separated by Unrestricted vs Restricted - when I go to match the Bank Deposit records against the downloaded bank transactions, I can only match against a single Bank Deposit. I can't match multiple Bank Deposits against a single combined bank transaction record.
The only thing I can think of is maybe weekly, monthly, etc I manually run a income by class report to see how much was "sold"/donated into each class, and add a Transfer record from the parent bank account into each subaccount with the appropriate amount. This seems janky.
Any other ideas?
