Home› Accounting› Accounting Technical Support

Accounting for gifts?

KingKing Member Posts: 5

If a family member or friend gifts money, how do I input this "transaction" under personal accounting?

in Accounting Technical Support

Comments

  • AlexLAlexL Member Posts: 2,869 ✭✭✭

    Hi @King . You can create a new Income account in your Chart of Accounts called something along the lines of "Donations/gifts" and categorize your income transaction to it. This way you know exactly where this income comes from.

    edited September 16, 2019
  • Onesimus_45116Onesimus_45116 Member Posts: 5
    What about Gift I GIVE to a vendor? How or what should that be categorized under?
Sign In or Register to comment.