sponsorships and donations

[Bowearth]

We are entering a sponsorship agreement with a local sports club and are setting up in store credit in lieu of payment what is the best way to enter this in accountright

[Earl_HD]

Hi @Bowearth 

Thank you so much for your post.

I would highly recommend you to get in touch with your accountant as he may help you to record Donation to your GL.  What tax implications (if any) would be well treated by your accountants' professional advice.  

Once you know how your accountant wants to treat is (ie. create a journal entry) or Sales invoice to be written then we can help you enter in the software.

Regards,
Earl