Designated Funds

[trumpetman]

I need some help with setting up designated funds....for example: A Youth trip fund, One side would go in the - , the other side in the + , that way at the end I could tell how the account did. Should I open up a designated fund...and then use different accounts to track this ? How would this work?

01-9000-000 Youth Trip (donations)
01-9001-000 Youth Trip (Payments)

Or should I just use one account? Can I debit and credit this same account ? Would this be expense or Income....Help

[Zoe]

In a typical accounting setup, the asset accounts range from 1000 - 1999, liabilites range from 2000 - 2999, fund balance from 3000 - 3999, income accounts from 4000 - 4999, and expense accounts from 5000 - 9999.

If you are wanting to track the Youth Trip Fund seperately, you may want to set up a seperate Accounting Fund for it in PowerChurch. Each Accounting Fund has it's own Chart of Accounts, so you would be able to track all Income and Expenses for the fund and you would know how much cash you have available in your checking account for the fund.

As with setting up any new Fund or Chart of Accounts, if you aren't sure about what it is you need, you may want to get the assistance of an accountant.

[trumpetman]

So how do you suggest tracking designated funds ?

[Zaphod]

See if this article gives the answer you need:

http://www.powerchurch.com/support/answ ... icle_id=21