Got a couple of questions for anyone who can help
We do a Wednesday night study and the church pays for the materials. Often folks will help defray the cost of the matrials by making a donation to to the church to help pay for the books. We let everyone keep the books regardless of whether or not they make a donation. My questions are:
1) Should this be handled like a normal contribution?
or
2) Should I set up a separate bible study income account to capture the money given/paid
or
3) shoud I just credit the Wednesday study expense account? (which I accidentally did last week and from what I have read on the forum I think is wrong.)
(Using Version 9)
Thanks Dave
Donation $$ to pay for bible study materials
Moderators: Moderators, Tech Support
-
- Posts: 25
- Joined: Sun Nov 06, 2005 5:02 pm
- Location: Fayetteville NC
- Contact:
Donation $$ to pay for bible study materials
Dave Farrington
Re: Donation $$ to pay for bible study materials
At my former church, we setup the reimbursement as a separate contribution fund, that transferred money over to the expense account in Funds Accounting. This contribution fund is 'outside' the normal funds that are listed on the yearly statement as it would not be tax deductable as they are paying for an item they have received.Dave Farrington wrote:Got a couple of questions for anyone who can help
We do a Wednesday night study and the church pays for the materials. Often folks will help defray the cost of the matrials by making a donation to to the church to help pay for the books. We let everyone keep the books regardless of whether or not they make a donation. My questions are:
1) Should this be handled like a normal contribution?
or
2) Should I set up a separate bible study income account to capture the money given/paid
or
3) shoud I just credit the Wednesday study expense account? (which I accidentally did last week and from what I have read on the forum I think is wrong.)
(Using Version 9)
Thanks Dave
Neil Zampella
Using PC+ since 1999.
Using PC+ since 1999.