The recipe can be prepared through Step 2 and refrigerated overnight. The finished doughnuts can be made up to 4 hours ahead.
VARIATION: To make jelly doughnuts, cut out 2 1/2-inch rounds of dough with a biscuit cutter. Fry as instructed above. Once the doughnuts are cool, use a piping bag to squeeze jelly into the sides of the doughnuts.