You can create funds via Create > Accounts Assistant > Funds. You will then see this screen:

 

 Click the Fund details button. You will see the following screen:

 

 

 


You can see the General Fund is already showing. You can also see three other funds:

  • Agency collection. This 'fund' is only used for Postbox accounts – for more information please go to the end of this article.
  • Pension reserves part of SORP 2015
  • Revaluation reserves part of SORP 2015


To add a fund:


Click the Add New button. You will see the following screen:

 

 

 

 

 

 

 

Enter the description of the new fund in the top white box e.g., Building Fund.

Enter a short name for the fund in the box marked 'Abbreviation', following the above example we could enter Building.

 

You need to tick the Fund Type boxes to show what type of money is being given to the fund:

  • Unrestricted – The donor has not limited the use of the money - General Fund.
  • Designated – The charity has allocated unrestricted money (General Fund) to another fund – it is still unrestricted.
  • Restricted – The donor has limited how the money can be used, for example for building work only.
  • Endowment – The donor has given money to be invested and the charity is only able to use the interest on this money.

 

Click Save.

If you want to add more funds:


Click Add New and repeat the process.

 

When printing Fund Reports (from the Reports menu) you may want to change the order in which they appear. 

 

You can amend the report order of funds via Create > Accounts Assistant > Funds and Click the 'Amend the print order of funds' button.

 

You will see the following screen which will include any funds that you have created:

 


Move the mouse over the small square next to the fund:

Click and hold down the left mouse button. Then 'drag' the fund to the position you require.

Click Save when you have finished. You will receive a message to say the change of funds was successful.

Please note this will not change the order of the funds anywhere else.

Agency Collection

 

Agency Collections are used when you collect money on behalf of someone else (for example you may have a collection at a particular service that is for Christian Aid). In this case neither your church/charity or its finance committee have any control over the way that the money is used. It is described as an Agency Collection (or sometimes a ‘post box’ account). You are acting as an agent, collecting on behalf of someone else.

 

Please note the above information is not definitive and you should always obtain clarification from the SORP and/or Charity Commission when deciding what constitutes an agency collection and what is normal income and expenditure.