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Showing results for tags 'Not for Profit'.
I am testing this Software for use in my Not for Profit Association. I need sound advice on setting up only those things I need for our level of accounting, based on information we already use. We do not have Commercial Business Dealings, which this Software is really developed for, and for that purpose it looks great. However, I need to be able to create End Of Month and End of Year, Income Statements and Balance Sheet Reports, and possible other smaller reports. There is a possibility of needing to provide Australian BAS reports for recovery of GST paid on Purchases. I believe I only need to consider Money coming in (Income) as per Membership Fees, Donations, Members Money coming in for Excursions, etc, and, Money going out (Expenses) as per Excursion Expenses and various other Operational Outgoings. There will be a need to have the ability to transfer Funds between Bank Accounts, as we use a Cheque Account and have Term Deposit Accounts. I need to create a Chart of Accounts for this Accounting, so I need to know:- a) Can Main Account Headings be set up at First Level. Can Group Accounts be created at Second Level. c) Can Sub Accounts be set up at Third Level. d) How many levels can be created in Chart of Accounts.