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
Step 1: Select "Add Fund"
To create a fund, select "Funds" on the Accounting Screen toolbar. Then select the "Add Fund" button.
Step 2: Customize Your Fund
You will first be prompted to give the new Fund a name. You can then set the Fund as Active or Inactive.
Editing Funds
There are occasions when you may need to rearrange your funds, edit the name or status of a fund, or delete a fund.
Editing Fund Name or Status
Select 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.
Deleting Funds
Occasionally, you may need to delete a fund. To do this, select the "Funds" tab, and then select the "Delete this Fund" button
Rearrange Accounts
To change the order the funds appear on the Accounting Dashboard, select and hold the arrows to the right of the fund name, then drag it to the position on the board you would like it to display.
Pro Tips
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.
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 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 does not remove the transactions. All transactions associated with that Fund will be reassigned to the General Fund.
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.