Some NGO has to book some expense which a Donor is ready to sponsor.
But the Donor would pay only in the last month of this year.
What should be the accounting treatment to the Expense entry now?
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Future sponsorship for Current Expenses of NGO
Replies (1)
Book the expense
Expense A/c Dr
To Sundry creditors A/c
( Booking of an expense , Invoice no and date )
when you pay expense
Sundry creditors A/c Dr
To Bank. A/c. Cr
( payment of expense booked earlier
write cheque no etc .
Expense A/c Dr
To Sundry creditors A/c
( Booking of an expense , Invoice no and date )
when you pay expense
Sundry creditors A/c Dr
To Bank. A/c. Cr
( payment of expense booked earlier
write cheque no etc .
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