NESFA Treasury Procedures: Other Income Reports

Essentially, an income report tells the Treasurer that someone with an advance account has received and kept money on behalf of NESFA.

The accounting for an income report is easy: Just credit the person's advance account and debit whatever account is receiving the income. (The process is a bit more complicated when you are entering book sales reported on an Income report.)

A frequently mis-understood point: An income report is only used when money owed to NESFA is kept by a member with an advance account. So there is no need for a check to be accompanied by an income report (just write that the payment is for on the front of the check.)