Re: [SL] Setting up a non-profit

[Paul T. <pt...@wa...>]

Donations are GIFTS.
Iirc a gift is defined as something given with NO rights to or expectation
of any kind.

Sure , if people are giving you money it might be handy to have them in a
CRM (customer relation management) to send christmas greetings and or beg
letters. But that has nothing to do with  donations or accounting.

Unless you plan to keep up a frequent donations scheme, there is no need to
enter all personal data of people donating anything. Just the journal entry
BANK debit, donations incoming credit.
There is NO sale, so no sales account. There IS income (incoming donations)
so it is strictly an income account.

For tax deductions their own bankstatement should be sufficient, and you may
want to note the adresses, but not in the financial data I suggest. (Privacy
Laws in Europe are a lot tighter, we MAY not enter that kind of data even if
we like without the written consent of the person being registered. But then
we always were a silly bunch to begin with ;-)

Hth

Paul

2007/11/28, Wallace Roberts Consulting <wrc...@gm...>:
>
> I selected the California non-profit CoA, hoping that would get me
> close.  For donors, I set them up as customers, since they're "buying"
> a "donation" which I'll probably set up as a service.
>
> Does this sound correct so far?
> --
> Best Regards,
> Wallace
>
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