What is recorded in special events revenue accounts in UCOA?
In the UCOA ver. 3 What is a definition of what should be recorded in the following accounts:
5810 Special Events non-gift revenue
5820 Special Events gift revenue
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107
bH1Gc0Uk8r4iKgacwZ5xHE
07/27/11 5:32pm PDT
Viewed by asker yesterday 7:29am PDT
Viewed by asker yesterday 7:29am PDT
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qbteachmt
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07/27/11 6:48pm PDT
Just what it means. Whatever your organization does, use the accounts appropriate to your activities.
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qbteachmt
Questions asked: 107
Questions answered: 43440
Points earned: 106584
Questions answered: 43440
Points earned: 106584
Accountant Community AllStar
Advisory council of Accountant community power users.
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Intuit Moderator
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07/28/11 2:01pm PDT
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The solution
Let's say my organization is Feed The Homeless Cats.
The fundraiser is "Bad to the Bone Dance" and this is my special event. The dance includes a meal worth $10. Ticket prices are $25.
The Non-gift revenue is $10 per ticket sold.
The Gift Revenue is $15 (or whatever is given above the $10 meal value).
My Program is feeding cats (program revenue). My Special Event is the dance (special event revenue). The meal cost $10, so this is not Gift, this is value received for the revenue.
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