Transfer checks can be used for donations, and accountants also need to include these checks in accounting entries. So how should the relevant accounting processing be done?

Accounting entries for transferring checks as donations

Debit: Non-operating expenses - donation expenses

Credit: Bank deposits

Transfer Can checks be made out to a personal account?

Company transfer checks can be made out to individuals, and they can be transferred to personal settlement accounts opened at banks.

When the unit makes a payment from its bank settlement account to an individual's bank settlement account, and each payment exceeds US$50,000, it should provide the following payment basis to the bank where the account is opened:

1. Salary agreement and recipient List of benefactors.

2. Proof of award.

3. Proof of employment contract signed between press, publishing and performance organizers and the payee or proof of payment to an individual.

4. Proof of payment or refund from a securities company, futures company, trust investment company, award or underwriting department to a natural person.

5. Debt or property rights transfer agreement.

6. Loan contract.

7. Certificate issued by the insurance company.

8. Certificate from the tax collection and administration department.

9. Purchase and sales contracts for agricultural products and mineral products.

10. Other proof of legal payment.

If the unit's bank settlement account pays taxes to an individual's bank settlement account, the withholding unit shall provide a tax payment certificate to the bank where the account is opened when paying taxes.