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In: 1. Financial Accounting > Not for Profit Organizations

Can I get income and expenditure account of charitable trust in excel?

Can I get income and expenditure account of charitable trust in excel?
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    1 Answer

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    1. GautamSaxena .
      2022-07-14T22:19:14+00:00Added an answer on July 14, 2022 at 10:19 pm
      This answer was edited.

      Income and Expenditure A/c of Charitable Trust

      Income and Expenditure A/c is like the Profit and Loss A/c in the Balance Sheet of the Charitable Trust. All the income and expenses are, therefore, recorded in this. It is used to determine the surplus or deficit of income over expenditures over a specific accounting period.

      It shows the summary of all the income and expenditures done by the charitable trust over an accounting year. All the revenue items relating to the current period are shown in this account, the expenses and losses on the expenditure side, and incomes and gains on the income side of the account.

       

      • Therefore, as you can see here, how a charitable trust may use MS Excel for making their Income and Expenditure A/c, the Surplus and Deficit are the balancing figures used for balancing both the debit and credit sides.

      Later on, they are even used in the Balance Sheet. As follows-

      On the Assets Side 

       

      On the Liability Side

       

       

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