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Recording purchase of club pendant with club funds with a member writing a check to cover the cost at a later date

A member of our boating club is willing to reimburse the club for the cost of a club flag. We have gone ahead and ordered it and the charge shows up in our bank account. How do I properly record both the exspence and the member reimbursement

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Best answer 09-12-2019

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Re: Recording purchase of club pendant with club funds with a member writing a check to cover the cost at a later date

Record the expense to the proper expense account.  When you reimbursed, create a deposit and also code it to the same expense account.  It will wash.

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Established Community Backer *

Re: Recording purchase of club pendant with club funds with a member writing a check to cover the cost at a later date

Record the expense to the proper expense account.  When you reimbursed, create a deposit and also code it to the same expense account.  It will wash.

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