Balancivo · Churches and nonprofits
Set up funds for restricted gifts
Create funds like a Building fund or Missions, choose which gifts go to each, and see every fund's balance.
Who can do this: Owners set up funds; owners and bookkeepers view the statement.
Read the transcript
On the Funds page, you can see how much of your money belongs to each purpose. Right now, it's all General money. Click Add a fund to set aside money for something like a building or missions. Name the fund, and enter its starting balance: what it had on the day your books start, or zero if it's new. Add a purpose if you like. Keep it restricted when donors gave for that purpose, then click Add fund. Now pick which gifts go to the fund. Next to Designated giving: Building fund, choose Building fund. New gifts in that category are tagged automatically. At the top, the statement shows each fund's beginning balance, income, expenses, transfers, and ending balance. Choose a period, like Year to date, and click Print statement for your next board meeting.
A fund is a pot of money set aside inside your books. Your bank balance is one number; funds show how much of it belongs to each purpose. Restricted funds hold gifts people gave for a specific purpose, and that money should only be spent on it. Everything else is General (unrestricted) money you can use for any need.
Steps
- Go to Funds.
- Click Add a fund under Your funds.
- Fill in the fund. Enter a Name (like "Building fund") and a Starting balance: the fund's balance on the day your books in Balancivo start, or 0 for a new fund. Add a Purpose (optional).
- Mark it restricted if donors gave for a specific purpose. Leave Restricted: donors gave this money for a specific purpose checked, or uncheck it for money the board set aside on its own.
- Click Add fund.
- Choose where gifts go. Under Where gifts go, pick a fund next to each income category. New transactions filed under that category are tagged with that fund automatically. In church books, each Designated giving category (like "Designated giving: Missions") already goes to a restricted fund of the same name, which Balancivo creates if you don't have one.
- Check the balances. At the top, the Statement of Changes in Fund Balances shows each fund's Beginning, Income, Expenses, Transfers and Ending balance. Choose This month, Year to date, Last year or Custom, and click Print statement to print it.
Good to know
- General (unrestricted) is built in and can't be changed. You can't name a fund starting with "General," and each fund name must be unique.
- A fund's starting balance is carved out of General, so your total doesn't change.
- Transactions you already filed keep their fund when you change Where gifts go. Re-tag them one at a time in Review.
- If designated gifts were filed while their category still went to General, owners see designated gifts are in General at the top of Funds. Move them to their restricted fund (each move is in History), or keep them in General. Gifts in a closed month can be moved after you reopen the month.
- The total of all funds equals total net assets (total equity for a business) on your statement of financial position or balance sheet.
- Other changes appear for General money that isn't income or expenses, such as items not yet filed under a category. An account's starting balance counts as a beginning balance, including for accounts added partway through the period.
- Click Edit to change a fund. Deactivate keeps it on reports with its history, but you can't pick it for new gifts or transfers. Reactivate brings it back.
- Only an owner can add or change funds or change where gifts go.
- To spend restricted money, see Move money between funds.