Charity Restricted Funds

Chris Jack's Avatar

Chris Jack

05 Jul, 2022 01:53 PM

I am treasurer of a quite small charity with income from a number of sources including bequests. These often come with specific conditioins restricting what the money can be spent on, althought for banking simplicity and to reduce bank charges all the money is held in the same accounts (current and deposit). I currently have to maintain a spreadsheet outside Moneydance to keep track of the income into and expenditure and from these restricted funds. Is there a way of tracking these within Moneydance?

  1. 1 Posted by mhoggie on 05 Jul, 2022 02:12 PM

    mhoggie's Avatar

    just a user,

    sure, just create some unique categories for those transactions, then you can run a report and copy to a spreadsheet if needed

  2. 2 Posted by Chris Jack on 05 Jul, 2022 04:23 PM

    Chris Jack's Avatar

    I have all my categories set up, but I have to make payments from more than one fund to the same category. So, for instance, one of our employees is paid from more than one fund, depending on what their work has been, but of course they only want one paycheck.
    The multiple funds are held in multiple bank accounts - not an individual account per fund. So I need a way of tracking the fund payments within each account.

  3. 3 Posted by mhoggie on 05 Jul, 2022 04:40 PM

    mhoggie's Avatar

    just a user,

    If you are paying from multiple accounts, but only want to send one check, then you will need to transfer funds to a common account to make that single payment. So you could still track the funds with unique categories when you transfer the funds to an account used to make the actual payment. The account used to make the payment is simply a conduit. It would show where the payment went. The transfers to that account would show where the funds came from.

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