Non-repayable advances in the balance sheet


Joined
Feb 4, 2022
Messages
2
Reaction score
0
Country
Switzerland
I am writing the financial report for an association.
As a board member, I have paid directly from my pocket some bills for the website domain, website host and email provider.
These payments were not donations, for at no time did they pass through the association's bank account (which was not yet existent at the very beginning). They were officially acknowledged as non-repayable advances. In fact, I do not expect to be refunded.

Questions:

This money was never really IN, nor it needs to go OUT at any time.

1. Should I account for it in the balance sheet?
2. Under what categories?
3. Most important, how do I make the balance sheet equal zero?


Thanks heaps for your advice.
 
Ad

Advertisements

kirby

VIP Member
Joined
May 12, 2011
Messages
2,324
Reaction score
312
Country
United States
No. 1 is no which makes the other two moot
 
Ad

Advertisements


Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Top