DESKTOP EDITION CLOUD EDITION SERVER EDITION GUIDES FORUM

Modify Equity Grouping to cater for Nonprofit Standards


#1

Can we modify grouping for Equity to conform with standards for nonprofit organizations?

example: Assets = Liabilities + Net Assets (instead of Equity)

then group Net Assets as Unrestricted, Temporarily Restricted, and Restricted

If not, I hope this will be implemented for future updates. Thanks a lot for this software.


#2

I think you can do almost everything you want. All you have to do is rename and/or create accounts in Chart of Accounts under Settings tab. Using the classified balance sheet and multi-step income reports, you can create whatever groups you want. The only thing you could not do is rename the Equity category as Net Assets.