Atinuke
3 years agoMember
Write off deposit
Hi, I am doing books for small school P&C, in 2020 we supposed to have a Carnival and made a deposit for a rides in 2019 which was entered as Spend Money - Less Fundraising Purchases account, Caniv...
Hi Atinuke
Thanks for your post. From a software perspective you could record a general journal and transfer the amount from the Fundraising purchases account to a write-off account. However, I would recommend speaking to your accountant to ensure this is correct for tax/BAS purposes. You would also need to check on the applicable write-off account with the accountant.
Please let me know if you need further help.
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