Can My Homeschool Group Collect Money Now That’s For Next Year?
Many homeschool groups collect deposits in the spring for next fall’s programs. This helps with determining how many families will be returning. But how should these early deposits be recorded in a homeschool group’s bookkeeping. Carol Topp, the Homeschool CPA offers some ideas.
In the podcast Carol mentioned a handout that explains how to record early deposits in accounting software like QuickBooks. Here it is:
Deferred Revenue in QuickBooks (pdf)
Visit Carol’s website here!
FEATURED PRODUCT from HomeschoolCPA:
Money Management in a Homeschool Organization
Does your homeschool group manage their money well? Do you have a budget and know where the money is spent? Do you know how to prevent fraud? This 115 page book will help you to open a checking account, establish a budget, prevent mistakes and fraud, use software to keep the books, prepare a financial statement and hire workers. Sample forms and examples of financial statements in clear English are provided.
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