Non-Profit
Fundraising Gala — Event Night Revenue Recognition
Recognizing ticket revenue and recording event costs on the night of the gala.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Deferred Event Revenue (Tickets) | Liability (-) | 15,000.00 | - |
| Special Event Revenue | Revenue (+) | - | 15,000.00 |
| Fundraising Expense: Event Direct Costs | Expense (+) | 6,000.00 | - |
| Cash / Accounts Payable | Asset/Liability (-) | - | 6,000.00 |
💡 Accountant's Note
On event night, deferred revenue converts to earned revenue. Direct costs (venue, catering, entertainment) are expensed simultaneously to show the net fundraising proceeds.
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