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Category: Finance
Satisfied Customers: 4678
Experience:  Tax professional and business consultant for 35 years.
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We own a business with 8 locations. How do we set up an

Customer Question

We own a business with 8 locations. How do we set up an account so our clients can donate directly to a Charity with 100% going to the charity. For example when you are completing a purchase and they ask, " Would you like to donate a dollar to St. Jude's?"
JA: The Accountant will know how to help. Is there anything else the Accountant should be aware of?
Customer: I don' think so.
Submitted: 1 month ago.
Category: Finance
Expert:  PDtax replied 1 month ago.

Hi from Just Answer. I'mCustomer and can assist.

Expert:  PDtax replied 1 month ago.

In your accounting records, set up a liability account named "Funds for St. Jude's" or something similar.

When cash is collected, deposit it in your bank with a corresponding credit to this new liability account.

When you write the check, debit the liability and credit cash.

You could set up an account for each store with their store name or number to add more detail.

Thanks for asking at Just Answer. Please take a moment for positive feedback after review. I'mCustomer