Here’s a tip for all you homeschool groups using QuickBooks (or something similar like Apolos or Wave)
In the homeschooling world don’t usually think of our members as “customers” but that’s what QuickBooks calls them.
Members = Customers
We also don’t think of collecting registration dues or field trip fees as “sales” but that’s what QuickBooks calls it when you collect money and provide a service.
Registration Fees = Sales Income
Field Trip fees = Sales Income
Co-op Class fees = Sales Income
You should set up several categories on your Chart of Accounts for different types of Income. You may want to change the titles of Income accounts in QuickBooks to match your program. So instead of “Sales” Use “Program Income” or just plain “Income”
Make use of subaccounts under Income for things like
- Membership dues
- Co-op Tuition
- Field Trips Income
Carol Topp, CPA