Accounting Tab

Parts of the Accounting Tab

Posting Accounts
Restricted Campaign Generally funds are deposited to the Operating Account as setup in your Default Posting Accounts.

If you want the funds deposited to another account for this campaign, check the Restricted Campaign box and enter the correct Bank Account and transfer information below. This will cause Theatre Manager to create a general ledger clearing entry for your finance department to indicate the movement of funds via their bank interface. Refer to the example on restricted donations

Note: you will not be able to set up a restricted donation campaign if:
  • A restricted bank account is provided for the campaign. This is a physically separate bank account from your main bank account if required by law. it is typically an asset account
  • The restricted bank account is one of the special bank accounts in code table default accounts
  • The xfer from bank account and the clearing account in code tables are the same account in default accounts
Restricted Bank Account Restricted Bank Account for this campaign. it is normally a physically different bank account if you are tracking funds for special purposes like capital campaigns or casino/gaming accounts - as may be required by law.

Click the button to open the Chart of Accounts lookup.

Income "Prior Year in blue" and earlier. Prior fiscal year account for this campaign. We recommend that this be an unrecognizable account in your accounting system to prompt you to look at any posting to a prior year donation account.

The reason for a non-sensical account number is simple: posting to prior year donation accounts usually causes auditors to be concerned because the year end has been closed and audited as far as donations for prior years which have been compared to receipts issued.

An account number with an account name like 'Donation posted to prior year, please investigate' is a good idea.

Click the button to open the Chart of Accounts lookup.

Refer to the link about what happens if you change Amount, Campaign, or Fiscal Year for a Prior Fiscal Year donation for more information.
Income for "Current Year in blue" Current fiscal year account for this campaign.

Click the button to open the Chart of Accounts lookup.
Deferred Revenue for "Next Year in blue" and Later If you wish to defer donations for a future fiscal year for this campaign, you can select a different account than the current year account. It would normally be a liability. During year end rollover, any donations entered in future fiscal years will be rolled into the earned accounts. Click the button to open the Chart of Accounts lookup.
Patron is allowed to receive a benefit when giving to the campaign Applies the benefit matrix from the giving level matrix to this campaign. Click here for more information on setting up benefits for donations.
Can be changed from the default for the giving level Allows the value of the benefit to be edited during a donation.

Benefit Amount
Checkbox Patron is allowed to receive a benefit when giving to the campaign.
Checkbox Can be changed from the default for the giving level.
Benefit Account Benefit general ledger account for this campaign.

Click the button to open the Chart of Accounts lookup.
Diataxis: 
Reference

Changing Prior Year Donations

Changing financial information about donations after your year is complete is usually not a good idea especially if its after your financial audit and approved financials have been send to the Government.

If you need to do it, make sure you have a discussion with your accounting staff and/or auditors first.

You will be reminded of the accounting ramifications if you happen to change any one of the following items for a donation (per the image below) that was entered for any fiscal year PRIOR to this year:
  • Campaign
  • Donation amount
  • Fiscal Year on the donation
An other data fields on the donation can be changed at any time without financial implication and you will not see any of the messages below.
This process mentions fiscal prior year account setup in the campaign - refer to that if you need to see hour your accounts are set up and where things will post

Changes to Campaign, Amount or Fiscal Year

If you change Campaign, Amount or Fiscal Year, you will see a messages similar to below below asking to confirm the change.

If you really want to change the prior year financial data, you will see a second message to confirm the change, as below.

 

If you agree to both dialogs, the donation data will be changed.

Theatre Manager will create transactions that

  • Reverses the original amount, campaign and fiscal year using the account number below that relates to the donation fiscal year
  • Create a new transaction for the new amount, campaign and fiscal year
Thus, if you are changing a donation from the current to the past year, then you will affect prior year books. This will take funds out of out of the current year account and put into the prior year account.

Since the Government has been told about the prior year, your finance people and auditor will need to know, so that they can amend prior year. This is especially important if it is a multi year pledge that is not full paid because of the discounting for present value that need to be done on Government forms.

In other words, if you need to do this, make sure your finance people know. IT may not be an issue at all.. but then again, it might be very important to know.