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How can I make the accounts of NGO and Charitable societies.

To make the accounts of ngo and charitable societies is very simple . In charitable societies we have to make receipt and payment account . This is just like cash account .But cash account can not be made in non profit organization .Debit side of receipt and payment account is receipt of cash. Ngo can receipt cash in the form of subscription , interest ,general donation , rent received and entrance fees etc. Ngo can also pay certain expenses like salaries , printing & stationery expenses and other purchasing of fixed and current asset . This must show in the credit side of receipt and payment account .After doing this , accountant can calculate balance of cash at the end time of accounting period . It is also duty to collect other information like outstanding and advance income and expenditure :-for calculating net excess of income over expenses of ngo and charitable societies . There is given a procedure to calculate above
Showing the amount of expenses in income and expenses account

Current year Expenses paid xxxxxxxxxx
Add outstanding expenses upto the end of current year xxxxxxxxxx
Less Previous year outstanding expenses xxxxxxxxxx
Less current year advance expenses xxxxxxxxxx
Add previous year advance expenses xxxxxxxxxx
_______________________________________________________________
Expense for showing income & expenses account = xxxxxxxxxxx_________________________________________________________

Statement showing of income in income and expenses account
Current year Income received in cash xxxxxxxxxx
Add receivable income upto the end of current year xxxxxxxxxx
Less Previous year receivable income xxxxxxxxxx
Less current year advance income xxxxxxxxxx
Add previous year advance income xxxxxxxxxx
_______________________________________________________________
Income for showing income & expenses account = xxxxxxxxxxx
________________________________________________________________

COMMENTS

: 3
  1. Very nice subject. Normaly all the consultant take a prectical approch to the system. I feel the format is also very good. I have some requirement. Do you have demo version in TAlly for Sport Club, Health Club or any club where member come and pay fees pa. and take services of the club and in Tally we can maintain their recordes. If you have do send me or write a note in Accounting education.
    Do u have any good book to suject on How to write books of accounts for NGO and Charitable Society and for the co. op Society.
    Pl. do let me know at mvshah54@yahoo.com

    ReplyDelete
  2. Thanks for giving good comment on above article .Currently I have not demo version in tally for sport club , but soon in future I will publish article and demo for accounting special for sport club.
    I can refer you specific book on ngo accounts . Sorry for this but I will try to write more articles on accounts of ngo and charitable societies .So wait for this

    ReplyDelete
  3. How can i made a settlement for a single program from 3 different accounts, one advance and two reemburesment in different transaction date?

    ReplyDelete
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Accounting Education: How can I make the accounts of NGO and Charitable societies.
How can I make the accounts of NGO and Charitable societies.
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Accounting Education
http://www.svtuition.org/2008/06/how-can-i-make-accounts-of-ngo-and.html
http://www.svtuition.org/
http://www.svtuition.org/
http://www.svtuition.org/2008/06/how-can-i-make-accounts-of-ngo-and.html
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