Endowment fund accounting

[chuckwall]

Our little 200+ member church has 2 endowments - one for the pastor's housing expense and one for the general welfare and benefit of the church. The 2 endowments together are just north of a million dollars. For the last 10 years I have chaired the endowment fund committee and have tracked the dividends, capital gains, asset appreciation and distributions on excel spreadsheets which has been fine since i have a financial and accounting background professionally.

I would like to integrate these investment portfolios into the powerchurch accounting suite the church uses for operations to ease in preparation of financial statements and to facilitate the orderly transfer of responsibility from me to a predasessor should the church leadership so desire.

I dont have a need or want to set up a full chart of accounts, i simply want to set up the investment (asset) accounts so i can load the historical data and begin to track the investments in Power church and be able to integrate the accounts into the church's books.

can anyone assist or direct me on how to accomplish this task?

Thank you for your input.

Cordially,
Chuck Wall
972-365-1098

[JohnDMeyers]

Start by creating the Fund in Fund Accounting / Maintain List of Accounting Funds.

On the third screen, where it asks if you want to copy a chart of accounts from another fund, unclick the copy box. You will have a blank sheet to write on.

Assuming new Fund is 08:
You will need to build some sort of outline from scratch. Create your equity accounts first:
GROUP, Equity, 3000-000, Level 1, add to Fund 08
Detail, Equity, 3110-000, level 4, add to Fund 08

Then, create your other Level 1 accounts. For example:
ADD, Group, Assets, 1000-000 ASSETS, Level 1, add to Fund 08
ADD, Group, Liabilities, 2000-000 LIABILITIES, Level 1, add to Fund 08
ADD, Group, Income, 4000-000 INCOME, Level 1, add to Fund 08
ADD, Group, Expense, 5000-000 EXPENSES, Level 1, add to Fund 08
ADD, Group, Transfer, 9000-000 TRANSFER, Level 1, add to Fund 08

Then, start building your chart of accounts structure. You can use Fund 01 as an outline. Just print out the chart of accounts to look at.

You will probably use all but the liabilities in your investment transactions.