Nivesh Sahayak App › Help › Accounts and final accounts

Income and expenditure, receipts and payments (trusts and schools)

A trust, society, NGO or school does not make "profit". When its type of business is set to a trust or society, the App shows an Income and expenditure account, a Receipts and payments account and a capital fund instead.

Step by step

1. Set the type. My data › My businesses › Type of business: trust or society (non-profit).
2. Work as usual. Fee receipts, donations received, expenses and payments are entered the normal way.
3. Open the statements. Final accounts shows the Income and expenditure account (surplus or deficit) and a balance sheet with Capital fund; More accounts › Receipts and payments shows only cash and bank money in and out, by head.

Worked example

A coaching society receives fees ₹4,80,000 (₹40,000 still unpaid at year end), pays salaries ₹3,00,000 and rent ₹96,000. Receipts and payments shows fees received ₹4,40,000. Income and expenditure shows fees ₹4,80,000 (earned, paid or not), expenses ₹3,96,000, surplus ₹84,000 added to the capital fund.

Common mistakes and how to fix them

• Comparing receipts with income. Receipts and payments has only money that moved; unpaid fees are in income and expenditure.

Related help

All help for the App · Help for My data