On 12/20/2017 2:40 PM, jcnw wrote:
I am setting up our church books on GNUCash and wonder how to handle
restricted funds.
For example if a member makes a donation to The Organ Fund
I do accounting for non-profits and so can help.
There is more than one way to handle this, and factors which may lead to
the choice which are things like: (answer these)
1) Will the special fund have its own bank account?
2) Will the special fund drive last for a long or short time? Is this an
immediate project or likely to go on for months or years before enough
funds raised?
3) How formal do you want to be? How formal the restriction? << that's
specified by the donor --- for example, "I'd like this to be for the
organ but if needed for something else you can" is an INFORMAL restriction.
Michael D Novack
PS: The strictly proper method of having a liability "donor restricted
funds" can ALWAYS be used.
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