Chart of accounts for mutlifund NPO

[iltfbordeaux]

Currently using Complete 2002. I've used Peachtree before, but not for a multi-fund nonprofit organization. Any ideas on how I should code my chart of accounts?

[FakeFlam]

You could utilize account masking to track accounts, funds, and encumbrances (if applicable). For example, you might structure your account sequence like: 4000-01-U. This would correspond to an income account for Fund #1 that is unrestricted. By customizing financial statements, you could then extract info by fund, by restriction status, etc.

If upgrading is possible, Premium 2005 makes this process far easier with a new UI for setting up account segments and a far more intuitive means of getting the desired output.

[David Palmer]

I have been using Peachtree for several years in a non-profit organization funded primarilly by donations.

I do not use of Peachtree for extensive fund accounting. Our donations of restricted funds are generally for a specific project (such as learning center computers, laundry equipment or roof repair) or a limitation to a specific expense (such as food only). We have separate database software that maintains donor information for each gift, including any donor restrictions. In Peachtree I enter all such restricted gifts as Contribution Revenue-restricted. All other donations are recorded as Contribution Revenue-unrestricted.

I then maintain a spreadsheet with columns for each project or expense category. Contributions and expenditures are entered for each designated item and the spreadsheet balances become the Temporarily Restricted Net Assets at the end of our fiscal year.

This works for us.

David Palmer
Director of Finance and Administration
New York City Rescue Mission
www.nycrescue.org