Search found 2 matches

by PCC Treasurer
Fri Apr 23, 2021 6:03 pm
Forum: Accounting
Topic: Correct accounting for Endowment distributions
Replies: 3
Views: 640

Re: Correct accounting for Endowment distributions

Thank you for your help. I was making it much more complicated than it had to be. The separate checking account was set up years ago. I was told that the distribution of the dividends from the investment had to go to an account set up in the endowment fund name. Plus, 5% of the distribution stays in...
by PCC Treasurer
Thu Apr 22, 2021 1:40 pm
Forum: Accounting
Topic: Correct accounting for Endowment distributions
Replies: 3
Views: 640

Correct accounting for Endowment distributions

We have tan endowment set up in it's own fund account, separate from our General fund, that we receive quarterly dividends from. When the dividends are received, they are deposited into a checking account automatically from the investment company. A check is then written from that account to be depo...