Using Quickbooks to Track Various Funds

by Cheryl Megosh
(San Antonio, TX)

We use Quickbooks to manage the Church budget but within the budget we have line items for various ministries and each of those could have a fundraiser to supplement their budget item.

Is there a way in Quickbooks that you know of to allocate the appropriate percentage of the offering to the different funds and have it show as an available balance and still monitor what was expended and have a running balance for each fund?

Comments for Using Quickbooks to Track Various Funds

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Tracking Restricted Cash
by: Vickey

There are a couple of different ways that I know of to track the restricted versus unrestricted cash in a single checking account.

One is to set up and use classes and the other is to set up subaccounts such as Unrestricted, Temporarily Restricted, and Permanently Restricted.

See step by step instructions on setting up either of these methods in Lisa London's book: QuickBooks for Churches Use code: "freechurch" for a 10% discount.

Same situation
by: Anonymous

I have run up against the same issue. Right now I am using subaccounts to our main checking account to distribute donations to the appropriate fund. I don't know if this is the best way or the right way but it is getting the job done. You just have to be vigilant about spending down those accounts when you enter the appropriate expenses. If you just take all of your transactions from the parent account it will make your balance sheet very difficult to understand. Good luck and I would love to hear if others have better ways of managing this.

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