On 5/26/2024 10:24 AM, (Alan) David Smith wrote:
Dear Sir/Madam,
I am an FCCA in England and an ex PCC treasurer. The main point to bear in mind
about funds is that they must be accounted for Separately. They do not have to
be represented by separate bank accounts, but it may advisable in Certain
cases. So one bank can share various funds. But the bookkeeping must be clear.
The other thing to keep clear is that (as Treasurer) you need to be able
to produce the report which is NOT the same thing as saying the finished
report (pretty print and all) has to come DIRECTLY from your financial
software. All your financial software needs to be able to do is produce
raw reports which contain the data you would need to put together the
finished product.
Thus I would guess the "final product" for a restricted fund report in
the UK would need starting balance, income to this fund for the period,
expenses paid for by this fund, and ending balance. Yes? Notice that for
this you might have to partition the authorized expense! << because
while the restricted funds can only be used t=for this purpose nothing
prevents the organization from also using general funds for the purpose.
In other words, possibly not all of that expense were paid for by
restricted funds >>
The first organization where I took over being Treasurer after retiring
another board member who was a lawyer/accountant told me "Mike, don't
bother writing custom reports. Just export raw reports and we use a full
function editor to produce the finished products" << I could have; spent
decades in the cypher mines and was a senior systems analyst/senior
business analyst -- never had been paid to write in LISP but I would not
have taken long to become fluent in Scheme >>. The point here is that IN
GENERAL going to have to do some editing anyway to get a pro[per
finished product.
Michael D Novack
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