‘Due To/Due From’ in FUND Accounting
A customer recently asked Kevin to explain how to set up the Due To / Due From feature in FUND accounting - here is Kevin’s response:
- A user has three options when setting up multiple funds in a nonprofit organization:
- Restricted - does not allow posting across multiple funds
- Unrestricted - allows posting across multiple funds without worrying about balancing them
- Due To/Due From - automatically creates the needed transactions to keep your funds in balance
- Each individual fund can be set to have its own fiscal calendar - but each of the funds must be set to the same Transfer Type, i.e., set to Due To/Due From.
- Since most nonprofits are multi-fund FUND organizations - setting the Cougar Mountain software up as with a Due To/Due From transfer type makes it a “one entry” system.
- So when a user makes any transaction into the system they just have to put the amount and what FUND account money will be transferred. In the screenshot below, notice the transaction is balanced AND the FUNDS will be too (DR = CR).
Kevin
System Trainer
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