Not For Profit Organisations
How to treat the general donations & Specific donations?
Put those items in income column of income and expenditure a/c
What about specific donations?
Specific donation will not appear in income and expenditure a/c
General donation should go to income and expenditure a/c credit side as it is a revenue receipt. Specific donation should go to Balance sheet liability side as it is a capital receipt
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CA Inter (New)
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964-011-1110 / 913-331-0549
CA Foundation - A Complete Guide
CA Course Guide - Here Is How To Become a CA
CA Intermediate - A Complete Guide