Income Category Transfers
Your charity or church may have decided to allocate or 'ring-fence' a portion of your income each month for a specified purpose. For example, 10% of unrestricted donations are to be allocated toward external giving/support of partner organisations.
Where this is the case, these funds will often need to be accounted for within a designated fund, although you could choose to top-up a restricted fund as part of this process, if you wish. Click here to find out more about fund types.
You can do this by using the 'transfer between categories' feature within the Adjustments Screen which will allow you to record this transfer from your general fund, into each of the appropriate categories within your designated (or restricted) funds.
Note: it's not possible to record this as an expenditure transfer out of one fund into the other fund as income, as this would result in your annual income and expenditure both being over-inflated in your end-of-year accounts.
Creating Income Category Transfers
Within the category transfers screen, click 'Add Income Category Transfer':
- Manually calculate the value of the amount of income you require to transfer, and then allocate this value out of the income line in the general fund as negative income, thus arriving into your designated fund as income.
- If you are routinely doing this, we suggest creating a specific income category for the purpose of allocating the transfer between income categories, to maximise visibility. (This will appear as negative income in the fund from which the money is being transferred).
Note: you need to manually calculate the percentage and then enter the monetary value. There is no mechanism to transfer by percentage.
You can view the impact of the income category transfers on the 'Source' category in the Income and Expenditure Transactions (by Category) report.
You can view the impact of the income category transfers on the 'receiving' category in the Income and Expenditure Summary (by Fund) report.
To help you better understand the Adjustments module as a whole, please visit the module overview page here.