[GNC] Dealing with discounts when not using Business Features

[Michael or Penny Novack]

On 6/1/2023 12:24 PM, Michael Hendry wrote:
> Thanks, Michael.
>
> IIRC, we exchanged some posts on the list some years ago, when I created Liability accounts for donations that were earmarked by the donors for particular purposes and later had to backtrack, following the advice of the accountant who examines our books. Indeed, I think you may have suggested this method.
>
> See interpolations below.
>
> Regards,

Whether restricted donations are properly treated as liabilities depends 
on:

1) Whether formally or informally restricted (moral restriction only)  
<< in other words, whether would need to return if not used for 
designated purpose >>

2) Your jurisdiction

Follow the advice of your accountant

Michael D Novack