Charity accounting

Support
1

This may be an unreasonable request, but here goes.

We are a small charity, happily using Quickfile. We have several bank accounts (current, term and instant access deposit accounts), and that’s fine.

The problem is that all our funds are also assigned to one of three different categories (Restricted, Unrestricted and Designated); their total will always equal the total of all the bank accounts but not be divided in the same way.

We also need to debit payments and credit receipts as they occur not only to the appropriate bank account but to the correct category and sometimes move funds from one category to another.

At the moment we keep track of theses categories on a separate spreadsheet, but it would be great if there were a way of achieving this within Quickfile, so that we could see the balances of each category at any time.

Is this possible, please?

2

You can create three different revenue accounts , call them Restricted, Unrestricted and Designated. Tag all incoming revenue to them. If you are looking for analysis on bank transactions itself, you can use Project Tags. Like I use for my Astronomy society, Gift Aid as project tag to generate revenue report for Gift Aid claim with HMRC
3

Many thanks, I’ll give it a go.