I'm trying to redesign my church's COA (located in Canada). Everything is now in different accounts, and I'd rather make use of QBO functionalities. Sorry for the long post...but trying to be clear!
I want to use LOCATION for the various Restricted Funds that we have (General Operating, Capital, and Trust).
Within the General Operating Fund, we need to deal with unrestricted donations, internally-restricted donations, and externally-restricted donations. Our tax and statistical reporting do not require this information so this is not a "master" grouping.
I want to have financial information by:
Organizational team (say Worship, Music, Pastoral Care)
Ministry programs (Youth programs, Outreach, Virtual Coffee House). Each program maps to the responsibility of a specific organizational team. Programs are where the $'s are spent; organization teams are who does the spending. Presentation and discussion of financials is generally based on Organization.
UnR / I-R / E-R revenue
How the revenue was earned (Donations, Fundraising, Grants) I think these remain as separate revenue accounts.
I've read online to use CUSTOMERS as the organizational teams, but I don't know what reporting benefit that provides. Does anyone have experience with this, or how do you define organizational units?
I want program ministry revenue to appear on the income statement separate from general revenue. To do so, do I need a "parent" revenue account called Program Ministry donations?
If I want to present each Program area's revenue is it best to set-up each as their own revenue account, a sub-account, or have the Program defined by something else like CLASS or SERVICE?
Any other advice...or experience of don't do this...?
Thanks so much!
J
