Contribution - When to Record?

The following is a question that we have received from a controller of a large church in the north east.

Question - During the Watch-Night service, Bishop called for a cross-over offering that was taken after 12AM and the envelopes were dated 1/1/08. When is the contribution recorded? 2007 or 2008?

Answer - The contribution is recorded when delivered to the Church. The cross-over offering was delivered after 12AM and therefore should be recognized in 2008.

Posted by Sandy Siegfried on January 14, 2008 1:46 PM |

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This entry was posted on January 14, 2008 1:46 PM.

The previous post in this blog was Charitable Contributions - Requirements - (1 of 6) .

The next post in this blog is IRS Releases Final 2008 Form 990 for Tax-Exempt Organizations - (1 of 2) by Karen Kirchman.

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