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Level 1

One Account different divisions

I run a non profit.  It had 22 separate bank accounts that I have closed and put all the money into one account.  Is there a way to keep track of each divisions account balance and spending.  I have tried classes and locations but all I can figure out is how to run a report that shows the transactions but not the beginning balance and not what is left.

2 Comments
Level 15

One Account different divisions

you should check with a NFP tax accountant, but as I understand it, if any of those funds hold restricted funds (money donated only for that purpose) they can not be mixed with the general operation funds

 

Level 9

One Account different divisions

You could turn on Projects and setup 22 projects for each division, then track the income and expenses by project. You would have to re-allocate the income and expenses that have already been categorized to the individual projects, but this would provide a way to track the income and expenses by division. However, you still won't have a beginning balance so to speak, as it is not a bank account. With credit cards, when you have a master corporate account and assigned cards under the account, you can setup a master credit card account and then sub-accounts under the master, tracking the expenses by cardholder. I suppose you could do this with a bank account if your bank can setup a sub-account for each user under the master account for you. It's a reach, but it never hurts to ask what your options are.

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