Detail setup for Endowment Fund

[FAIRFIELDFIRSTUMC]

I have set up a second fund (Fund 2)that is to be used for one of our endowment accounts. It will have disbursements and income. Since we will need to track the disbursements by type and person how will I do that? Since this is a benevolent fund it has many disbursements and many individuals. I think I understand that the account numbers should be kept in the sequences of Fund 1. As you can tell I'm still new. Thank you

[NeilZ]

I have set up a second fund (Fund 2)that is to be used for one of our endowment accounts. It will have disbursements and income. Since we will need to track the disbursements by type and person how will I do that? Since this is a benevolent fund it has many disbursements and many individuals. I think I understand that the account numbers should be kept in the sequences of Fund 1. As you can tell I'm still new. Thank you

A few questions:

I take it that this has a separate checking account?
By disbursements, you mean that you will be issuing checks?
What do you mean by type of disbursement?

As far as account numbers, they are set by the program. 1000 series are assets, 2000 - liabilities, 3000 - Net Assets/Equity, 4000 - Income, 5000 thru 8000 expenses.

The obvious method to issue checks is through Accounts Payable, you will be issuing a check, which also means you need to add these individuals to the vendor list.

[FAIRFIELDFIRSTUMC]

Thank you.

I take it that this has a separate checking account? yes

By disbursements, you mean that you will be issuing checks? Yes

What do you mean by type of disbursement? Rent, Utilities, Medical etc.

The fund has stipulations as to so much per family per month for each type of expenditure.

I just tried setting up a few payees in accounts payable, and thought I could add an expense account under a Group Account titled Relief of Suffering. But when I add the vendor it is not unique to just fund 2 so when I print a vendor list report its combined with fund 1 also. Is there a way around this?
Thanks

[NeilZ]

Thank you.

I take it that this has a separate checking account? yes

By disbursements, you mean that you will be issuing checks? Yes

What do you mean by type of disbursement? Rent, Utilities, Medical etc.

The fund has stipulations as to so much per family per month for each type of expenditure.

I just tried setting up a few payees in accounts payable, and thought I could add an expense account under a Group Account titled Relief of Suffering.

I would not use a 'Group Account' for expenses .. but that's up to you.

But when I add the vendor it is not unique to just fund 2 so when I print a vendor list report its combined with fund 1 also. Is there a way around this?
Thanks

What you can do is set these payees up with a specific vendor type then, since the standard reports do not have a filter, you can create a custom report to only select that vendor type. But vendors are vendors, they are not limited by accounting funds.

[FAIRFIELDFIRSTUMC]

I did do that and use 02 as a vendor type. Now to find how to sort by that.

Thanks for your help

[NeilZ]

I did do that and use 02 as a vendor type. Now to find how to sort by that.

Thanks for your help

You're going to have to create a custom report, currently there's no other way to filter or sort the vendor list.