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New construction fund accounting
Posted: Tue Apr 12, 2011 6:51 pm
by astrunk1
Our church has plans to start building a new church. In planning ahead for the accounting of expenses for this, what is the best way to track all the associated expenses? We will have a separate building fund to take in contributions for this construction, as well as loan money. Do you add an expense account for this?
Re: New construction fund accounting
Posted: Tue Apr 12, 2011 10:02 pm
by NeilZ
astrunk1 wrote:Our church has plans to start building a new church. In planning ahead for the accounting of expenses for this, what is the best way to track all the associated expenses? We will have a separate building fund to take in contributions for this construction, as well as loan money. Do you add an expense account for this?
You should have a separate fund account entirely to keep the tracking of all income and expenses for the construction.
I did a search on "Building Fund" in the forum, and found this thread that should detail your setup:
http://powerchurch.com/forum/viewtopic. ... 85&p=15709