PASS THRU FUNDS
(Ft. Lauderdale, FL)
We currently collect money as a church on a monthly basis for a benevolent nonprofit organization and mail the checks made out to that organization directly to the organization, the cash we deposit into our account and write out a check for that amount.
Can we set up a liability account and deposit the money into our account and pass this through without recording a liability. The only problem is that it seems that we would be responsible for sending out donation statements for those that give over $250.00. Is this correct?
How would you handle this type of transaction?
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