Dear Sir/Madam,
I am an FCCA in England and an ex PCC treasurer. The main point to bear in mind
about funds is that they must be accounted for Separately. They do not have to
be represented by separate bank accounts, but it may advisable in Certain
cases. So one bank can share various funds. But the bookkeeping must be clear.
Our church has used Financial co-ordinator software in recent years which is
good for small and larger churches. It also clearly deals with Fund accounting
and is easy to learn.
There is a charge - which I do not think is excessive and may be someone would
be willing to donate the cost.
However I also use GNU Cash for my own books and find it a good free program.
Regards,
David.
Ex PCC Treasurer and current member of Finance committee.
On 25/05/2024, 21:13, "gnucash-user on behalf of Chris Green"
<gnucash-user-bounces+smith54=smith54.karoo.co...@gnucash.org on behalf of
c...@isbd.net> wrote:
I am the treasurer of a very small parish church council in the UK.
We have to present separate accounts for restricted and unrestricted
accounts, this is a legal requirement and also required by our diocese.
At the moment restricted funds are, basically, building funds and are
kept in an interest paying savings account. The unrestricted funds
are kept in a bank current account.
My problem is that many donations to the restricted account (e.g.
donations that the donor has specifically said must be for repairs of
the church roof) go into the bank current account and have to be
transferred from there to the building society account.
For the last couple of years I have separate GnuCash data for the
current account and the building society account, this has worked
reasonably well. However we are now moving into a period of getting
the roof repaired and much more money will have to move via the
current account.
So, how should I deal with this using GnuCash? I can see that I could
separate accounts into two hierarchies (in a single database) -
restricted and unrestricted with expenses and income for each, etc.
However is it then possible to present separate end of year statements
for them? This would simplify incoming donations which are all to a
single bank account.
Or are there other strategies which work better for this sort of
situation?
I emphasise that this is a small church, annual income is only of the
order of £5000 and we have no full-time or paid employees. So the
solution has to be simple and manageable by part-time,
non-professional people.
--
Chris Green
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