Charity ring fenced/ restricted funds

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1

Hi,
I think I’ve read through just about every post on this subject! It seems there are multiple ways of accounting for restricted funds.
One of the ways from 2014 (Ringfenced funds) mentioned setting up a new supplier, this seems counterintuitive as our suppliers are companies we buy things from. Is this still a recommended way of doing things?
Or does anyone have a different method? I need to track the expenditure from the fund and be able to see any remaining balance.
I also use the bank feed facility, so any method that still keeps that current would be helpful

Thank you in advance

Neal

2

Hello @NealG_Arc

The main thing is that you have the money in a separate ringfenced bank in QuickFile.

If different suppliers are used you could go to Purchases > View Payments and export the data then look at all the payment details (and allocation detail) for the specific bank account.

3

Thank you for your help.

4

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