Transaction Types For Fund Accounting

Transaction Types control the effect of each transaction that is entered into the system, including whether it affects a fund balance.

When your site was initialized, fund accounting was disabled, so only a few transaction types are set up to affect funds, and those may have been disabled.

To reconfigure your transaction types for fund accounting, please go to Site Configuration → Money → Transaction Types.

Regardless of how you plan to use fund accounting, the following two transaction types should be enabled:

To do this, update the transaction type and remove the checkmark from the Disabled checkbox.

The remaining changes will vary based on how you plan to use fund accounting.  We will work through two possible scenarios here.

Scenario #1: Tracking Camp Scholarship Money

This anticipates a limited use of fund accounting, solely for the purpose of tracking money set aside by the troop for camp scholarships.  This example assumes that you have only created one fund to represent the current amount of money available for camp scholarships.

In this scenario, you probably won't be entering many transactions that affect the scholarship fund.  So rather than modifying the existing transaction types, we recommend that you create several new transaction types specifically to work with the fund:

This approach assumes that the scout will be charged the full amount for summer camp.  An "Award Scholarship To Scout" transaction would be created to increase the balance in his account to cover all or part of this charge.

An alternative approach would credit the event instead of the person, and reduce the charge to the scout in the amount of the scholarship.

There is no way to have the scholarship award transaction type affect both the scout and the event.

Scenario #2: Categorizing Camping Expenses

If you are using budgets, then you are already categorizing your expenses.  However, since event expenses are lumped together under one budget item, this does not allow you to break down the expenses involved with campouts.

This approach assumes that you would create a fund for each category of camping expense, such as:

(This last fund is needed to handle expenses associated with fundraisers, since we will be changing transaction types that are also used for fundraisers.  The alternative would be to create additional transaction types for fundraisers that do not reference funds.)

You would then modify the transaction types that are used to record expenses for events, to enable the Fund Debit Required option.  This would include: