Creating and Editing Funds

Funds are used like "buckets" to track how your assets and liabilities are allocated. When used correctly, you are able to easily see how much you have in each bucket. This allows you to know how much you have allotted to your Building fund, Youth fund, or New Carpet fund, even if all this money is deposited into and spent out of the same bank account.

Creating Funds

To create a fund, click "Funds" on the Accounting Screen toolbar. Then click the "Add Fund" button.

You will first be prompted to give the new Fund a name. You can then set the Fund as Active or Inactive.

Editing Funds

Click a fund in the list to see additional information about that fund, or to edit the fund name. You can change the status to Active or Inactive.

This is also where you can delete a Fund.

Tips

Use as few Funds as possible

Some churches have a fund for everything ("New Lightbulb Fund"). While you can set up and use as many funds as you wish, doing so will add to the overall complexity of entering and maintaining your data. Any general or budgeted deposits and expenses will likely work best being assigned to the "General Fund," which is the catch-all fund. Any unallocated receipts or expenses should be placed into the General Fund.

Current balance

When entering a new Fund, the current balance will always be $0. This is because no income or expense categories or transactions have been assigned to that Fund yet.

The current fund balance is calculated based on the deposits and expenses attributed to that fund on the account registers. The fund balance cannot be entered or changed on Fund Screen.

The General Fund

The General Fund is used for general, undesignated deposits and expenses. For most churches, this is the main operational fund.

The General Fund can be renamed, but it cannot be deleted.

Deleting a Fund

Deleting a Fund does not remove the transactions. All transactions associated with that Fund will be reassigned to the General Fund.

Accounts are not Fund-specific

Let's say that you need a Building Fund in addition to the General Fund. As contributions are made, some amounts are allocated for the general use (tithes, offerings, etc.), and some are designated specifically for your building program. Even though all the money is deposited into the same checking account, by designating a fund you can easily track how much money has been designated for a specific purpose.

See the Accounting Chart for an illustration.