FrontAccounting forum — Advice on setting up FA for nonprofit fund accounting

Re: Advice on setting up FA for nonprofit fund accounting

2020-08-25T16:33:43Z

No.

Re: Advice on setting up FA for nonprofit fund accounting

2020-08-24T23:55:14Z

Hello,

A newbie question: Is it possible to have inter-dimension transactions, i.e., Due to or From another dimension within the same company?

Thank you.

Celito

Re: Advice on setting up FA for nonprofit fund accounting

2020-08-24T23:50:44Z

narayanis wrote:

@amwassil, I found a nonprofit who has been using FA to do fund accounting for a couple of years and we had some good conversations. The basic idea is to let each of your funds be a Dimension 1. If you need projects, they can be Dimension 2 of the fund (for instance a specific grant to track in your Temporarily Restricted fund) Ignore the date fields, and if you ever need to close, merge, or otherwise use up a fund, dimensions can be closed without being deleted.

Hi I am a new user. I see this has been a conversation for some time, and I am glad I found your post. I have suspected that it can be done through dimensions. Has there been any further developments or related discussions? We may have a need for fund accounting. Thanks again.

Celito

Re: Advice on setting up FA for nonprofit fund accounting

2015-09-21T16:21:09Z

Wiki-ed it.

Re: Advice on setting up FA for nonprofit fund accounting

2011-12-24T13:43:22Z

@amwassil, I found a nonprofit who has been using FA to do fund accounting for a couple of years and we had some good conversations. The basic idea is to let each of your funds be a Dimension 1. If you need projects, they can be Dimension 2 of the fund (for instance a specific grant to track in your Temporarily Restricted fund) Ignore the date fields, and if you ever need to close, merge, or otherwise use up a fund, dimensions can be closed without being deleted.

Re: Advice on setting up FA for nonprofit fund accounting

2011-12-24T08:09:05Z

Please contact your local accountant for these types of questions. FA is very flexible and you can build your own COA should you need specialities.

/Joe

Re: Advice on setting up FA for nonprofit fund accounting

2011-12-24T06:25:51Z

I'm a new user, as well, and am very interested in the response to this question. Most fund accounting software specifically designed for non profits is hosted and/or subscription based. FA has a "US COA for a nonprofit company"; but whether FA conforms to FASB or GASB, I don't know. Nor do I know if the accounts in the non profit COA correspond with US Form 990. I hope one of the developers responds to this question. Thanks for starting the thread.

Advice on setting up FA for nonprofit fund accounting

2011-12-05T01:40:07Z

Are there any guides or documents related to using FA to manage the finances of a nonprofit org? The preferred approach is fund accounting, in order to manage different programs, restricted and nonrestricted moneys, reporting on use of grants, etc. I'm wondering if there is a way to use some combination of groups, subgroups, tags, or dimensions to handle this.

I'd also suggest having the NCCS Unified Chart of Accounts as a potential chart to install: http://nccs.urban.org/projects/ucoa.cfm.