New client CIC limited by guarantee

[QFSteve]

Hello @StuartNorfolk

The overall structure of the chart of accounts remains the same on all company types

The main difference is the code variations listed under each section

e.g.
" Proprietors Drawings Account" on a sole trader
“Director’s Loan Account” on a Limited Company

There are many posts in the forum on how to deal with funds and CIC etc

Ringfenced funds

I have detailed the procedure below: First set up each gift/grant provider or donor as a new supplier, this will also help to track the utilisation of the funds: [image] Now set up a new Quick File bank account for each gift/grant provider or donor: [image] When tagging the gift/grant/donation received into the business bank account, select ‘Bank transfer between accounts’, on the next screen select the bank account created in step 2 above as ‘Transfer from account’. This will allocate t…