Fund Accounting is an optional feature of the OurGroupOnline accounting subsystem which we do not recommend for most groups.>
Why don't we recommend it?
- We do not think it is necessary for a group's basic bookkeeping requirements
- It will add to the effort required to enter routine transactions
- It can create confusion if not implemented correctly
The fund accounting feature was implemented in response to groups who wished to use the system to allocate and track portions of their funds.
The example we will describe in the following pages is a group that wishes to set aside a certain amount of money to purchase boats and other group equipment for the coming year.
This example is implemented in the OurGroupOnline demonstration site.
Setting up fund accounting involves these steps:
Once you've set this up, you will be prompted for the appropriate fund to debit or credit every time you enter a transaction, depending on the transaction type that you've selected.
You can then produce a report that summarizes your fund balances. You can also view the transactions that contributed to a given fund balance.