You will need the Financial Settings permission to perform this action.
This article relates to funds in your accounting system. This is different from designations a donor may give towards and 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. This may include departments, campaigns, grants, unrestricted and restricted net assets and more.
Each fund lets you track it's income, expenses, equity, assets and liabilities including how much money remains in the fund (i.e. remaining balance).
Adding and editing funds
To view your list of funds, go to Accounting > Settings from the left hand menu. The top portion of that screens contains the list of funds.
To create a new fund, click on the "Add Fund" button at the top. To edit an existing fund, click on the name in the listing or choose "Edit" from the cog menu within one of the boxes.
A pop up will appear with the following fields:
Required. The name of the fund. This should clearly indicate what this fund is.
Required. The kind of fund this is. By default, the system comes with two categories
Restricted Net Assets
These are funds that must be used for a specific purpose as set by the donor. If needed, you can create additional categories to separate temporarily restricted from permanently restricted net assets.
Unrestricted Net Assets
These are funds that can be used for general expenses or any other legitimate purpose of the nonprofit. They aren't limited to a specific use.
If you need more categories, you can use the cog menu to the right of this dropdown to create new ones.
Required. This is the account number for the equity account that will be created in the chart of accounts for this fund. If you don't have a preference, we recommend this number be in the 3000s range.
Required. This is the color for the fund that will show whenever this fund appears in reports and other areas of the system. This helps differentiate funds from each other at a glance.
Whether the fund is active or inactive. If inactive, this fund will not appear by default in other areas of the system.
This section lets you enter what the starting balance is for this fund across all asset and liability accounts (as applicable). You can leave the value blank if that particular account does not contain money related to this fund.
Once you are done, click on the "Save" button to save your changes.
To delete a fund, locate the appropriate fund in the list and use the cog menu to choose Delete. If the delete option is not there, it means this fund is currently in use and has transactions associated with it. In this case, you cannot delete the fund, but you can still deactivate it.