Chart of Accounts
Nonprofits track more than just accounts, or simple object codes. They also need to track departments. FUND E-Z lets you setup funds and three different cost center levels for department
tracking in addition to a six character account level.
FUND E-Z offers a five level – 22 character
account number structure.
|
Level
|
Description |
Max Length |
| Fund Level |
A Complete Self-Balancing
Set of Accounting Books |
4 |
| Account Level |
The GL Object Code (e.g.
Cash, Accounts Payable,
Revenue, Salaries, Supplies, etc.) |
6 |
| Cost Center 1 |
Used to Track Departments
of Any Type (optional) |
4 |
| Cost Center 2 |
Used to Track Departments
of Any Type (optional) |
4 |
| Cost Center 3 |
Used to Track Departments
of Any Type (optional) |
4 |
Typical Nonprofit Department List
- Unrestricted Fund
- Restricted Fund
- Temporarily Restricted Fund
- Program A
- Program B
- Program C
- Project A
- Project B
- Project C
- Grant A
- Grant B
- Grant C
Proper departmental setup under FUND E-Z
|
Fund |
Cost Center 1 |
Cost Center 2 |
Cost Center 3 |
| Unrestricted |
Program A |
Project A |
Grant A |
| Temporarily Restricted |
Program B |
Project B |
Grant B |
| Permanently Restricted |
Program C |
Project C |
Grant C |
Benefits of a Proper Setup
- Segregating funds, programs, projects and grants allows for independent reporting
for each level.
- Powerful filters allow unlimited grouping within a level or across different
levels.
- The same GL accounts are shared by all levels.
- Columnar financial statements can be printed for any level.
- Separate budgets can be setup for each level.
- Consolidations for total company and for each level require no setup at all.
- Any level can be setup as rows or columns on custom financial statements.
- Each level can be accounted for on a different fiscal year.
- Allocate admin or overhead across departments for any level.
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