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What type of account for collecting cash to be then paid straight out again?

PipPip Member Posts: 20

We are selling raffle tickets for someone else. We don't get a cut, it's a straight in and out of the bank account situation. What sort of account do I open to record those transactions? I don't think it should appear on the P&L report. Is that correct? THANKS!!

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Comments

  • JulianPJulianP Member Posts: 1,002 ✭✭✭

    Hey there @Pip !

    I'm afraid that we here at Wave Support can't advise on this as we are not accountants. To ensure you get the correct accounting advice, I suggest reaching out to a CPA.

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