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chi1234
February 11, 2021
Question

Non profit housing fund

  • February 11, 2021
  • 1 reply
  • 0 views

I have a nonprofit housing client that needs to setup long term liability account for building reserve fund, which should equal to reserve bank account.

We also receive interest on the bank account which should be recorded as revenue. How to record it monthly?

1 reply

J
JamesM4
February 11, 2021

Hello chi1234,

 

Recording your transactions the right way is a great habit for preventing errors in your books. I'd be glad to steer you in the right direction with recording your transactions so you can get back to doing what you love. QuickBooks is a powerful program which enables you to get your work done faster. 

 

To ensure accuracy in your books, I recommend contacting an accounting professional to get more info on recording the transactions. Doing this will help prevent any future discrepancies in your books. If you're not in contact with one, I encourage you to search for one on our website using this link here. 

 

In the meantime, feel free to ask other questions. I'm here to help. 

 

 

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