How to manage small donations to a small non-profit
Dale Alspach
alspach at math.okstate.edu
Fri May 25 23:27:57 EDT 2007
You need an income account. Perhaps
Donations?
Are publicty, etc. actually sub accounts of savings or are these expenses?
A $100 donation would look like
Income
Donations
Credit $100
Assets
General Fund
Savings
Debit $100
Pay for a newspaper ad:
Assets
General Fund
Savings
Credit $50
Expense
Publicity
Debit $50
General Rule: Money flows from credit to debit.
Dale Alspach
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