Question:
How to track charitable donations?
Answer:
The easiest thing to do is to use a Goods Issue, and then change the Offset GL Account to the In-Kind Donation account you want to hit. In the Chart of Accounts, you will need to highlight the in-kind donation account as flag it as a "sales account". This allows the system to hit the account on an invoice, which usually hits a revenue account. The system will reduce inventory and offset it to the GL Account you choose.
If you need to do an Invoice, so that you have a financial record or what want to print it, etc. you can do that too. On the Invoice, use Form Settings (Quick Start: Form Settings) to make the GL the "COGS Account" field visible. Then you can change it from the normal revenue normal COGS account to the In-Kind Donation Account right on the row of the invoice. Remember to set the price to $0.
Using either the Goods Issue or the A/R Invoice works and will result in the same JE and impact on inventory. Goods Issue is faster, but Invoice allows you to have a document and is printable. In addition, if you create an a Business Partner and Invoice for your donation, this allows you to run reports and track exactly how much you've donated over a span of time.