Newbie Account Set up Question
mark at phillipsmarketing.biz
Tue Jan 11 11:30:14 EST 2011
I run a 501c3 organization (not for profit) for youth sports teams. I have
only had 1 team in the past, so keeping track of expenses/donations was very
easy with one set of accounts (ie just the simple accounts). But now I have
2 teams, and I would like to create reports for each team separately
(expenses and income), even though I am still only keeping 1 checking
account. what is the best way to go about this? I also need to do a roll-up
for the IRS at the end of the year.
I could create two top level categories under expenses called "team 1" and
"team 2", and then duplicate the expense accounts under there. The same for
income. But that seems redundant and easy to make mistakes. Or, I could
create two files, "team 1" and "team 2", but then reconciling my statements
will be painful.
Is there a better way to keep track of money in one file but have gnucash
spit out all the transactions (eg reports) into two different categories -
"team 1" and "team 2"?
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