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- Fri Feb 04, 2022 6:32 pm
- Forum: Accounting
- Topic: Prior Year Contributions Used as Income In Current Year
- Replies: 1
- Views: 789
Prior Year Contributions Used as Income In Current Year
Our fiscal year ends in January 2022. I am in the process of closing the month and year. During 2021 we had a Donor Challenge for people to donate funds as contributions in 2021 that will be used as income in 2022. The funds were recognized as income in 2021 in a separate income account line. How do...