COA for funds/Non-Profit Kit

[KatieO]

I am looking at Premium 2004 and need a program that I can set up to do financials for grants as well as our main company. I need to be able to do statements for each grant or the main company as well as statements for all combined. I think Peachtree is the closest program I've found to do this.

My plan is to set up the chart of accounts using a different department for each. Main company being dept. 10, first grant as dept. 21, next grant as dept. 22 and so on. This involves a LOT of initial data entry.

A person at Peachtree also said that I would have to develop a special financial statement if I want all departments reflected and that I can use a predefined statement for individual departments.

If anyone is using the non-profit kit, I would be interested in whether you find it worth the additional expense. I had a hard time getting input from the Peachtree folks and finally spoke to someone who said it basicly shows a sample chart of accounts structured the way I'm planning to set mine up already.

I would be interested in any suggestions on setting up for fund accounting. Thanks.

[FakeFlam]

For 2004, you're on the right track. By structuring your chart of accounts as you describe, you will have the ability to see 'departmentalized' financial statements. The industry kit includes five prebuilt financial statements a Crystal Report and a supplement to the users guide that could assist with these sorts of issues.

If you've already determined the format and content of the reports and financial statements that you'll need, you can certainly build them yourself within the product (or pay someone to do it.) If you rather not bother doing this yourself, and the provided reports / financial statements meet your needs, it could be worth your $200.

Here's the page that describes what's included:

http://www.peachtree.com/nonpftindustry/nonpftindustry_crystal.cfm

[KatieO]

I do know what the reports should look like, but have not used Crystal Reports before. I have used a few other reporting programs, though, so I'm hoping Crystal Reports will have some similarity to them.

I just can't tell from the description on the page you referred to whether any of the reports would be what I need. I do know that a couple of them wouldn't be. Do you use the non-profit kit?

[FakeFlam]

I have used the nonprofit kit. Only the Donor / Grantor Report is a Crystal Report. The others are custom financial statements that work within Peachtree itself. (There's also a sample company and a COA that might work well to give you a quicker start.)

If you'd like to leave your email address I'd be happy to send you PDFs of the sample reports and statements.