Topic: INDIVIDUAL ACCOUNTS!
Hello,
First of all. I am not very sure if this post belongs here. So please forgive me.
We are a non profit organization of Orphanage home. Every orphan receives a few cash every month.
What will be the best practice of keeping records?
we want to keep records of what is being given (expenses) to each orphan
Should we open a new cash account (petty cash ) for every orphan ? or should we use a dimension entry.
or simply a journal entry? What will be the best practice and how?
I will be very glad for any help
Thanks in advance
Bashir