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mrachelcooper
Level 2

Restricted funds - funding not aligned with management structure

Hi

 

I have a charity client who needs to be able to report by funder and by department and these don't map neatly onto each other (they'd also like to do activity type and location - again not neatly mapping - but that's another story).  They are on the cusp of needing something slightly more sophisticated than QB, but are determined to make QB work for them before investing in a mad bespoke system.

 

Have any of you used Donor/Customer to manage restricted funds?  My concern is that I will end up double counting when I come to close the grant down, or else I'll have an ever expanding number of unbilled expenses - but I can't see any other way of managing the tagging of income and expenditure.

 

Any help will be gratefull received

 

Thanks

 

Rachel

3 REPLIES 3
Ashleigh1
QuickBooks Team

Restricted funds - funding not aligned with management structure

Hello Mrachelcooper, 


Thanks for reaching out to us on the Community page, 

 

In regards to your restricted funds accounts that are created for charities, you  can also create these accounts themselves in quickbooks in the chart of accounts section, but there isn't any specific functionality for this in the Quickbooks product.

There may be a 3rd party app that can help, but we wouldn't be able to say which ones to use. 

 

We welcome any Community users who have had a similar issue to comment on this post. 

mrachelcooper
Level 2

Restricted funds - funding not aligned with management structure

Thanks Ashleigh - I am aware that we are trying to tag transactions with quite a lot of data.

 

The thing is - I don't want to create it in Chart of Accounts because that will limit my reporting functionality - I want to be able to run a Statement of Financial Activities by Grant, or by Team, setting expenditure directly against income and I can't see how I'd do that if I set up the grants as a list of accounts in the chart of accounts.  Am I missing something?

 

Thanks

 

Rachel

Ashleigh1
QuickBooks Team

Restricted funds - funding not aligned with management structure

Hello Rachel, 

 

In quickbooks, the closest function we have for what you are wanting to do is called class or location, however this is only available in our plus product of quickbooks.  We do not really have the functionally for activities by grant or team directly. 

 

I am hoping this link will help you with your query. 

 

https://quickbooks.intuit.com/learn-support/manage-stock-and-projects/misc/02/uk-manage-stock-and-pr...

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