Fund-Based Accounting (for Non-Profit organizations)?

H. Wei's Avatar

H. Wei

08 Dec, 2009 03:10 PM

Is there a way to tweak MoneyDance 2010 for fund-based accounting, as for a non-profit? We really like it for personal finance use, and I've been tinkering with categories and subcategories to try to do fund-based accounting.

Some organizations use a feature called "Classes" in Quickbooks. The closest analogy in MoneyDance would be something between tags and categories. There are existing Moneydance reports to do tag-filtered income & expense reports -- the missing piece would be budget reports (actual vs. budget) where you could designate a budget for a given fund/tag/class and then look at variance of actual vs. budget for that fund.

I suppose another way is to set up the funds as accounts, but then you lose the ability to download data and reconcile with the real-life accounts (typically bank checking & savings accounts).

Anyhow, features aside, if there were even a "Non-Profit Accounting with Moneydance" FAQ or something, that would be neat.

Thanks for the great software.

  1. 1 Posted by Angie Rauscher on 14 Dec, 2009 03:59 PM

    Angie Rauscher's Avatar

    Thank you for your suggestions for improvements to Moneydance.

    Our wiki is integrated with our feature request and bug reporting system. Please feel free to register and use these systems to help improve Moneydance by bringing bugs to our attention and requesting new features. We now also have voting on all existing tickets, which helps us determine which requests have the most demand.

    Please let me know if I can be of further assistance, and thank you for your interest in Moneydance.

    Angie Rauscher
    Moneydance Support

  2. 2 Posted by H. Wei on 27 Jan, 2010 01:24 AM

    H. Wei's Avatar

    I added a note to the Wiki under Transaction Tags to describe how to do a so-so version of fund-based accounting, which is not dissimilar from the way that Quickbooks handles non-profit accounting (i.e. assigning classes to each transaction).

    It would be nice to be able to subtotal by tag on the reports (e.g. on Income/Expense), but just being able to filter, for now, is a vast improvement from MD 2008.

  3. 3 Posted by Angie Rauscher on 27 Jan, 2010 02:28 PM

    Angie Rauscher's Avatar

    Thanks for this suggestion. For the time being, the Tag Summary report (while not exactly what you are asking for) might make it possible for you to get some of the data you are interested in.

    Please let me know if I can be of further assistance, and thank you for your interest in Moneydance!

    Angie Rauscher
    Moneydance Support

  4. Angie Rauscher closed this discussion on 27 Jan, 2010 02:28 PM.

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