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Implement the bookkeeping using a simple accounts payable/check writing approach or as a powerful double-entry fund accounting system. In the AP/check writing implementation, it handles multiple bank accounts, prints checks, provides excellent month end bank/check reconciliation, handles budgets for all receipt and disbursement categories, and provides excellent monthly financial reports. Yet, very little accounting knowledge is required to handle the church finances with excellent results. If the double-entry option is selected, the system is transformed into an extremely powerful general ledger system with true fund accounting. The equity section of the balance sheet is titled the fund equity section. Whenever an income (source of funds) account or expense (use of funds) account is added to the chart of accounts, it is associated with a fund equity account. When a transaction involves an income or expense account, the associated fund equity account is updated automatically so that fund balances are known at all times. Additional reports include a balance sheet, statement of sources and uses of funds, detailed audit trail and many more.
"Fund Accounting" is part of the OMS for Windows ( Nonprofit Organizations) line of products, developed by Torbert Data Systems.