Tracking Projects

[ph hermes]

i do this for client projects: i create an income side account for that
client/ project. then i create an expense account for the same client/
project. then when i need a report i use both of these accounts to create
the look see of the whole project.

      ph


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writer ~:~ photographer ~:~ book designer
resident manager
paulahendricks.com

On Thu, Jul 14, 2016 at 8:55 AM, Mike or Penny Novack <mpnovack at mtdata.com>
wrote:

> On 7/14/2016 8:05 AM, Michael Hass wrote:
>
>>
>>
>> I believe there is only one work-around, no direct solution. You have to
>> use the voucher tool and run all the expenses through an “employee”. That
>> can only post to a Payable account so if you’re using a credit card or
>> check for those expenses, you have to post those expenses to a pass-through
>> Payable and then move the balance to whatever account made the
>> disbursement. That makes reconciling a bit hard. A lot of steps.
>>
>   I forgot one more perhaps more fundamental question I would need to
> know. Are the organization's books on the cash or accrual basis? << if cash
> basis many of the built in business tools will not be available >>
>
> Micheal D Novack
>
> PS: To give a counter example, another organization for which I an
> treasurer also sometimes does events, but those are tiny and relatively
> incidental to our main activity, and not expecting to make a profit. So no
> "event accounting" needed. There is a rumor that in the near future this
> local will be asked to host the national annual gathering. That never
> happened before. If it does I will decide then, with things like whether
> separate bank accounts, vouchers to national (with the national treasurer
> cutting checks), etc.
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