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Old 03-22-2017, 03:17 PM
tvmangum tvmangum is offline
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Join Date: Sep 2016
Location: North Carolina
Posts: 19
Donations to a scholar

Last year our PTA accepted donations for a scholar that was involved in a traffic accident. She was in the hospital for several weeks. The scholar will be leaving the school when the school year is over. There is $360 left in the fund. What should we do with the rest of the money and how would I account for it in QB?

I know that it is technically a long-term liability but I just have it right now as an expense account so it shows up on our monthly reports--long story. I just want to be ready when the time comes for us to close out the year and when the scholar leaves the school.
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