Non-Profit
Fundraising Raffle / Lottery Proceeds
Recording ticket sales from a charity raffle event.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Cash in Hand / Bank | Asset (+) | 5,000.00 | - |
| Fundraising Revenue: Raffle | Revenue (+) | - | 5,000.00 |
| Prize Expense | Expense (+) | 500.00 | - |
| Cash / Prize Value | Asset (-) | - | 500.00 |
💡 Accountant's Note
Raffle proceeds are fundraising revenue. The cost of prizes is a fundraising expense. Net proceeds flow to the program or general fund. Local gaming/lottery laws must be observed.
Professional Excel Template
Get the automated version of this entry. Includes built-in IFRS checks, VAT calculators, and SAP-ready upload formats.
QA
Expert Analysis by Qusai Ahmad
General Accountant Supervisor & IFRS Specialist
Specialized in SAP GUI automation and Middle Eastern tax compliance. Building digital tools for the next generation of finance leaders.