Erasing last year's deficit
Posted: Tue Feb 12, 2008 1:58 am
2007 - used a personal finance type software.
2008 - started PC+9.
Last year our Operating Fund had a deficit (negative) balance. This year, one of the Church members made a donation to defray part of that deficit.
We are using cash-basis accounting.
How can I enter this amount so that Income for 2008 is not overstated, yet the member gets a 2008 tax receipt?
Al
2008 - started PC+9.
Last year our Operating Fund had a deficit (negative) balance. This year, one of the Church members made a donation to defray part of that deficit.
We are using cash-basis accounting.
How can I enter this amount so that Income for 2008 is not overstated, yet the member gets a 2008 tax receipt?
Al