Where to record cash income from linked organisation

Accounting
1

Hi there,

We use Quickfile for our Scout unit finance. We have received some income from a linked Scout group which is ‘free’, i.e. doesn’t need to be repaid and I wasn’t sure which nominal acc to use. What would you suggest?

Thanks

Ben

2

It sounds like a donation to me, in which case you could post the income to the code “Miscellaneous Income (4900)” or you could create a new nominal account “Donations Received”.

Disclaimer: I’m not an accountant.