by Sharon
(Calgary, (AB), Canada.)

Recording Donations

Recording Donations

My client set up a loose-change collection box with a organization (local zoo) name printed on it for customers to donate to.

Once collected and counted the money was given the organization and a tax receipt was made out in my client's business name.

Is this treated like any other donation or is different because it was a fundraiser activity that the public contributed to?

I am not sure how to deal with this in the books.

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Sharon, unless you are also doing the tax return, I'm not sure what the donation receipt has to do with doing the books for his/her business even if it was made out in the business's name. It was a fundraising activity separate from the business.

If you feel you must book the entry, book it to QuickBooks's expense account named "Ask the Accountant" with a good memo note.

I sure hope the business owner matched the donations or something.

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