[GNC] Book keeping/accounting of club project funds

Roderick Anderson raanders42 at gmail.com
Thu May 2 21:50:25 EDT 2019


Thanks Stephen.

This is kind of what I was thinking I needed to do.

Can you offer some pointers to find out more about 'setting flags' and 
roll-up account?  I figured there should be options like this but too 
ignorant of accounting to even know where to look.


73,
Rod - K7ZBE
-- 
On 5/2/19 4:53 PM, Stephen M. Butler wrote:
> On 5/2/19 3:18 PM, Roderick Anderson wrote:
>> Cryptic enough? :-)
>>
> 
>> How should I make entries for club project funds.
>>
>> I am the treasurer for a small 501(c)(3).  Our income is mainly
>> memberships (dues), cash donations, and an annual swap meet like event.
>>
>> First off I have almost no experience in accounting and mostly
>> on-the-job learning.  I inherited a Quick Books system that I imported
>> into GNUCash.  I've made some modifications to that account structure.
>>
>> I am using three Asset accounts.  Checking, Savings, and Petty cash.
>>
>> I've been asked to track the funding(?) for the clubs main project,
>> HAM radio repeaters.  We paid for them out of checking.  Some of it
>> before I became treasurer.
>>    We are now needing to enhance those systems so we've asked for
>> donations specifically for this purpose - a Repeater fund.
>>
>> So when the funds come in how do I book them?  That the right term?
>> Previously I just deposited the funds to checking.  And we used them
>> as needed though there wasn't enough in the fund so the rest came out
>> of the checking asset.
>>
>> I'd appreciate any suggestions on how to handle this?
>>
>>
>> TIA,
>> Rod
> 
> In addition to the other suggestions, I'd look to having sub-accounts
> under checking and set flags such that checking includes the
> sub-accounts in a roll-up accounting.  With sub-accounts you could break
> out the funds held in the checking account for the purposes for which
> the funds have been reserved.
> 
> Have fun and 73.
> 
> --KG7JE
> 


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