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Bramer, Retired CPA-Auditor
RE: QB reporting of SPFund contents Originated: March 2000
Below is a hypothetical Online Email thread (THRD) between any of the following MFTeam members: PAT (Ministry Chief Executive), LEE: (Ministry Volunteer Treasurer), or FRAN: (Ministry Computer Bookkeeper) and Jim@bcidot.org Click here and go to List of threads (THRDs) at www.bcidot.org
Hi, Jim, trust all is going well. Again we appreciate you helping us get QuickBooks � (QB) going in our medium sized Church.
My needs now are providing QB financial reports for various people here. First, we need reports to those in charge of various restricted funds ..... like the Missions department.
OK, Fran. As I remember you are using our recommended QB Fund Accounting system via Method One where Special Purpose Funds - SPFunds - appear as QB Equity accounts.
Below is an example of a QB report showing the activity within a SPFund. Or it provides the essence of "what did this SPFund start with" on such and such a date and "how much" came in and went out during that period of time and "how much" does it now have.
See DonaMail of today
See DonaMail of today
Initially the reader will need some explanation helps. For example, you will need to educate them that the "Debit" columns equals Expenditures and the "Credit" columns equals Revenue. And in the "Balance" column, brackets (see $ (2,714) above) means that the SPFund is overdraft, etc. Additionally, this report provides the necessary horizontal info re date, name/payee, memo (plus class if needed) as originally entered into to QB system.
You'll remember that as a part of our QB101 we have provided you with a MinFinSam QB file. In order to set up these reports, please go there and do the following and you will produce virtually the above report sample.
Go to the Chart of Accts and highlight an Equity account (SPFund # 3051);
Click on "Reports" at the bottom of the screen;
Choose "Quick Reports.";
Then customize what pops up on the 'what you want to report' screen;
Be sure and include the debit, credit and balance options;
Insert applicable inclusive dates;
You may want to include the Class info ... you'll remember Classes are used for generic types of reasons
why the SPFund Changed.
And produce this report.
Notice this report shows accumulated balance forward in the "Balance" column as of the beginning inclusive date.
"Quick Reports" can be produced and memorized for all applicable SPFunds (QB Equity Accts) needing such a report. Remember, it can be produced for any period of this year or last year, etc ..... fiscal year aspects are irrelevant.
Let us know if you need some help in setting these up.
Please Click here for more topics having to do with the use of "QuickBooks and Ministry Fund Accounting" on www.bcidot.org. The bulk of this Publication originated in March 2000 and was UPTD: June 04, 2010
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