Non-Profit
Online Crowdfunding Campaign Proceeds
Recording net proceeds from a GoFundMe or LaunchGood crowdfunding campaign.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Cash in Bank | Asset (+) | 9,200.00 | - |
| Platform Fundraising Fee | Expense (+) | 800.00 | - |
| Contributions Revenue (Restricted — Campaign) | Revenue (+) | - | 10,000.00 |
💡 Accountant's Note
Crowdfunding platforms deduct their fees before disbursing. Gross donations are recorded as revenue and the platform fee is a fundraising expense. Revenue classification depends on whether the campaign specifies a purpose.
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