How can I use Category Connectors for Year End accounts?
The Category Connectors feature in ExpensePlus is a great way of linking various categories from different funds.
You can link categories even if they don't have the same name.
This provides an overview report of the financial activity across your organisation.
You can read more about how to set up Category Connectors in this help guide article.
Example - Gift Aid across funds
For example, you may have different funds for different activities, all of which have a 'Gift Aid' income category.
It's right that these income categories exist in separate funds, but what if you want to report on all Gift Aid received by your organisation?
Top Tip: If when setting up a new fund, you copy categories from an existing fund, the category connections will also copy across.
So it's worth setting up category connectors before duplicating your categories into your new fund.
Year-end accounts
This can be a really beneficial feature for ongoing management reporting.
It can also be extremely useful when preparing your year-end accounts, especially your income and expenditure notes. These are typically the first notes to the accounts after your accounting policies. These notes report all income and expenditure across your organisation, regardless of fund.
Category Connector report
The Income & Expenditure Summary (by Category Connector) report has various options in the tabs at the top.
One of these is By Fund Type. This shows a breakdown of income and expenditure across various Category Connectors, divided into Unrestricted and Restricted income/expenditure. This is therefore in the format suitable for including in your year-end accounts.
To better understand the Finance Reports module, please view the module overview video here.