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    jackie451's Avatar
    jackie451 Posts: 1, Reputation: 1
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    #1

    Feb 11, 2008, 08:36 PM
    Expense Credit or Income?
    We are a not for profit dog club/rescue. We receive most of our income in donations. We received an amount of money from another rescue to pay vet bills.for dogs rescued from a puppy mill. Do I show this money as donation income or credit vet expenses in my expense accounts?
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    Feb 11, 2008, 10:55 PM
    Even though I do accounting, I really wanted to more comment on what you're doing. I'm an animal person and puppy mills just make me sick. I really appreciate the work you're doing!

    As for the question, not-for-profit is a specialized area that I don't really do. I was the treasurer of a community organization once, and I recorded donations as income, and then the expenses as expenses. We did receive some money that was meant to be for particular expense items and still treated them separately. The treasurer before me did it this way also. But nothing saying this was correct.

    Hopefully someone who knows this specialty area better can actually answer this. Like I said, I really more wanted to say thanks for the work you do.

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