Non-Trading Account
by
Yep Nepal
·
Published
· Updated
Things to remember
- Subscription – Income (Income and Expenditure Account)
- Add: if outstanding current year and advance last year is given
- Less: if outstanding last year and advance current year is given
- General Donations – Income (Income and Expenditure Account)
- Add: Outstanding donations
- Less: Capitalized donations
- Special donations – Capital & Liabilities (Balance Sheet)
- Legacy: Non recurring receipt – Capital donation (Balance Sheet)
- Entrance fees/Admission fees/Membership fee – Income (Income and Expenditure Account)
- Sale of old sports materials, grass, newspaper – Income (Income and Expenditure Account)
- Purchases of equipment – Assets (Balance Sheet)
- Honorarium: Regular expenditure – Income and expenditure account
- Life Membership fee: Capital receipt – Balance Sheet – Liability
- Maintenance/Normal grants – Income (Income and expenditure)
- Development grants – Capital Receipt (Balance Sheet)
- Sale of old assets – Deduct from assets (Book value)
- Profit on sale – Income (Income and Expenditure Account)
- Loss on sale – Expenditure (Income and Expenditure Account)
