Doughnuts are at their best freshly made. They get old very quickly. You can make your own at home and time them perfectly.
The secret to this recipe is to use pre-made pizza dough which you can buy freshly made from most local pizza joints. Mine charges $5 for a ball of dough that will make a 14" pizza or a couple of dozen doughnuts. An absolute must is to use a deep fry thermometer to ensure that the oil is just the right temperature.
You can use any sort of topping you like. I'm partial to cinnamon sugar, but you can use any sort of topping that you like, either dry like jimmies or viscous like melted chocolate.
Roll out the dough to a thickness of 1/2" using plenty of flour to avoid sticking. Cut out dough rounds with a 2" - 3" diameter cookie cutter. If you want the traditional doughnut shape, cut out the centers with a 1" cookie cutter. Combine scraps and roll them out to make more doughnuts.
Fry in 3" of oil heated to exactly 365° for 45 seconds on each side. Remove to paper towels to absorb excess oil. While still warm, roll your dougnuts in your choice of dry topping or smear or dip them with a viscous topping. Serve while still warm.