Crediting Expense Acct with Contributions

[nbccji]

We have a Fellowship Expense Account and on Wed nights donations are given for dinner provided. How do I credit the expense account without decreasing the Fellowship line on the Contribution Income on the Income and Expense Report?
Thanks, Katie

[Matt]

You can't. In general, crediting an expense account when income is received is not the best accounting practice. You lose visibility of how much income came in and how much was spent. A better way to do the accounting is to set up a separate Fund Balance account called something like "Fellowship Fund Balance". Then, set up both the Fellowship income and Fellowship expense accounts to close into the Fellowship Fund Balance account. Then, review the Fellowship Fund Balance account on the Balance Sheet to see how much money is left.

[nbccji]

Ok thank you Matt.