You will need the Accounting Settings permission to perform this action.
This article relates to fund accounts in your accounting system. This is different from designations a donor may give towards that appear on their tax statement. See this article if you need to set up your giving designations instead.
What is a Fund?
A fund is an area or purpose within your organization that needs to be tracked separately - departments, campaigns, grants, unrestricted and restricted net assets, and more.
Each fund lets you track its income, expenses, equity, assets, and liabilities - including how much money remains in the fund (its remaining balance).
Adding and Editing Funds
Go to Accounting > Settings in the left-hand menu, then click the Funds tab at the top of the Accounting Settings page.
To create a new fund, click + Add New. To edit an existing fund, click its name in the listing or choose Edit from the 3-dots menu at the start of its row.
The Add/Edit Fund pop up has two tabs: General and Starting Balances.
Note: an equity account will be created automatically for each fund you add.
General Tab
Number - Required. The account number for the equity account created for this fund. If you don't have a preference, we recommend a number in the 3000s range.
Name - Required. A name that clearly indicates what this fund is.
Category - Required. The kind of fund this is. By default the system comes with two categories:
Restricted Net Assets - funds that must be used for a specific purpose set by the donor. If needed, create additional categories to separate temporarily restricted from permanently restricted net assets.
Unrestricted Net Assets - funds that can be used for general expenses or any other legitimate purpose of the nonprofit.
Click the 3-dots menu next to the Category dropdown to add or manage categories.
Color - Required. The color used for this fund across reports and other areas of the system (helps differentiate funds at a glance). Click the color swatch to pick from a palette, or type a hex code (for example, #000000) into the text field.
Active? - Toggle. If off, the fund won't appear by default in other areas and drop downs of the system.
Starting Balances Tab
Switch to the Starting Balances tab to enter opening balances for this fund. Select choose accounts, then select the select the desired Asset and Liability accounts.
This will add a checkbox Change dates together to lock the dates for all the starting balance entries.
You will then see the accounts listed where you can enter the dollar amounts and the effective date.
Once you are done, click Save to save your changes. Check Keep open to add another first if you plan to add multiple funds in a row.
Deleting Funds
To delete a fund, locate it in the list and choose Delete from the 3-dots menu at the start of its row. If Delete is not there, this fund is currently in use and has transactions associated with it - you cannot delete it, but you can deactivate it by editing the fund and turning off Active?.