One way to separate these funds is to create a separate account, but that should only be done if these offerings are deposited into a separate bank account. If these offerings are deposited into a general bank account, they can be separated through the use of Restricted Funds.
Restricted Funds are subsets of Asset accounts. They are not separate accounts because the actual money sits in a bank account, but it is indicated that they are restricted. When Restricted Funds are created, an Unrestricted Fund is also created to account for funds that are available for general purposes.
Create a Restricted Account
- Go to Settings --> Accounts.
- Choose the Asset account for which you want to add a Restricted Fund.
- Click on "New Restricted Fund."
- Enter a name (i.e. Organ Fund, Missions, etc.).
- Click "Submit" to save.
- Once you click "Submit," your original Asset Account will become a Category, and you will now have two accounts: Unrestricted and the name of your new Restricted Account.
- Save your Chart of Accounts.
Add money to the Restricted Account
- Click on "New Transactions" and click "Transfer."
- Select the Bank Account (Unrestricted) and your new Restricted Fund.
- Enter the Amount for the Transfer and click "Save."
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