Sample Chart of Accounts

by Tom Rubino
(Leesburg, VA)

Just got your accounting package and am trying to work through set up for fund accounting.

Any chance you have a sample church Chart of Accounts I could look at? I'm getting confused about income, expense, and transfer accounts for fund accounts and think a visual might be helpful.

If I've missed one somewhere, please point me where to look in the materials I got from you.

Thank you so much!

Tom

Vickey's reply

There is a sample chart of accounts starting on page 30 in the Basic Church Accounting ebook:-)

Comments for Sample Chart of Accounts

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Charts of Account
by: Anonymous

This site has help a lot with the start up of my church!

Thanks
Flow of Restricted Income/Expenses
by: Tom Rubino

Thank you for responding to my last post. :o) I did find the page shortly after I posted!

I'm struggling with understanding the accounting flow for a restricted giving scenario...

Every year we have a men's retreat, where some of the expenses are covered by the church and the rest covered by participants.

So, we receive $2000 from participants designated to pay for their attendance at the retreat.

So the income is posted to the "Men's Ministry Fund Income" account and coded with restricted as the primary class and Men's Ministry as the subclass, right?

So then the total cost of the retreat is $5000. Does this entire amount get posted to the Men's Ministry Fund Expense account? Would you then transfer $3000 from the General Fund to cover the rest? What entries do you need to do to allow for the $2000 received from participants and to make sure that our budget doesn't show us spending $2000 than we budgeted? What the proper QuickBooks trail to clearly show that the $2000 given was actually used to pay what the donor designated it for?

Does all this make sense? I know there are probably five different ways to deal with a situation like this, but I'm just trying to understand how all this works together.

Any help would be great!

Thank you!

Tom

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