Good Morning. We are a charity in Wakefield and have a Lottery grant.
- We are a charity providing therapy to adults with ABI in West Yorks.
- We are using Sage 50 Essentials for our accounting package.
- We occasionally receive grants and donations that cover provision of a service over a number of months. It may typically cove salaries and costs.
- We recognise the income by posting it the month that it arrives a s a lump sum.
- Our P/L shows a massive income that month with less cost. A bumper month.
- The next and succeeding months the P/L shows the costs with little income, successive losses.
- We have been directed to an instruction to post the lump sum into donations, then immediately journal the posted lump sum into to a pre-payment nominal. And then to journal monthly amounts back to each month.
- The P/L will now show the monthly amounts and indicate how we actually performed in each month.
We have money that we recognised as a lump last year, and we would like to move the part that covers this year into this years p and L.
any thoughts or ideas?
Pete Taylor [email protected]