Trust - Accounts

Boss, a trust has to maintain accounts mainly for the purpose of Income tax exemptions. The major ones are:

1. Cash/Bank Book

2. Donations A/c(Reciept & Utilization)

3. Government Grants related A/cs (if any), Memmbership fees, Subscripttions

4.  Payable , Recievable ledgers 

5. Fixed Assets 

etc

BAsically the books are almost same but the trust may change the accounting treatment for particular accounts.

Ex; Donations collected (for mid day meals) may be recognised as income over the period of 10 months(Schools remain open)