Accounting for money given for specific use

by Lory
(Pocatello, Idaho, USA)

We often receive money for special programs for the community.

We also receive money for scholarships to church camps and flowers at Easter and Christmas.

Should these gifts be recorded in an income account or can they be put into a Gift Liability account since the money will be used at a later time?

Click here to post comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Church Accounting FAQs.



Need training on how to use QBO or Aplos effectively for a church or better yet ...need an expert in either of those accounting software to do your monthly bookkeeping and/or payroll? See more on our accounting services!