2013-07 Scrip Acctg and QuickBooks (QB) - ZZeod


TOPIC:  SCRIP Acctg and QuickBooks � (QB)                                                            DATE: January 13, 2001

TOPICAL OVERVIEW: This Ministry has a SCRIP Fund Raising program. This dialog provides some thinking about how such matters should be handled within QuickBooks � (QB).                                                                                                                                             FILE: 2013-07


    Thank you for making it known that QB is a resource for SCRIP Accounting. As you know, when the Buyer can decide where it goes, the record keeping for SCRIP fund raising situations is VERY "record keeping intensive."
    I am interested in that application. I am quite familiar with QB. My concern would be allocating profit percentages to teachers ... especially when there are children with different classrooms in the the same family.

    The URL below has examples of QB SCRIP features. You will note that we refer to the difference between the hypothetical sale of $100.00 and the cost thereof of $96.00 to be a $4.00 RESIDUAL. It is, of course, the accumulative $4.00 RESIDUALS that are the fund raising proceeds ---- the QB SCRIP system places RESIDUALS in named QB Equity accounts. We suppose when you say 'Profit Percentages' you mean RESIDUALS as any RESIDUAL usually is identified by source (Like Parent, Grand Parent or other BUYER) and can be apportioned by the source to any legitimate place ---- like different school classrooms, per your example.

          As most of you know, we here at  www.bcidot.org  dialog by email with Onliners regarding Ministry Finance (MinFin) matters.  Above are what we call "Edited Onliner Dialogs", or edited version of actual dialogs with some of you, but we have honored your privacy and not used your name or that of your Ministry. Our purpose is to make topical MinFin information available to any interested Ministry Finance Team so you can learn from one another.. Let us know if you would like to dialog on a Peer to Peer basis with the other Onliner involved and we will try to put you together.   Thanx - Jim Bramer  - Proverbs  9:10