Currently, we have about 15 funds ("Individual General," "Individual Capital," "Foundation General," "Foundation Capital," "Gala ticket purchase," "Gala donation," etc.). We organized the funds based on our GL accounts to make the translation from Tess to our accounting software as simple as possible. This way, the "GL Summary Report" at the bottom of each posting report will tell our accounting dept. exactly where to enter the gifts. Am I correct that the only way to direct a gift to a specific GL is through the fund?
Our finance department thinks of funds more broadly than the way we have them currently set up in Tess. They would like to have only three funds: Annual, Capital, and Endowment. This may just be the difference between the accounting definition vs. the development definition of "funds." Our one concern is that if we limit the number of funds, we'd also be limiting the number of GLs. Fewer GLs would make it harder for our accounting clerk to know from the posting report where to enter the gifts in the accounting software.
How many funds do you have? If we were to cut back to three very broad funds, is there a way to direct a gift to the specific GL by using the campaigns?
Thanks in advance!
We have MANY different funds – more than the 15 you mention.
It sounds like the Annual, Capital and Endowment would translate to Campaigns within Tess.
See if that adjustment gets you anywhere with your finance department and the reports they need.
Marie
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Marie Kocher | Development Assistant
Kansas City Ballet | Todd Bolender Center for Dance & Creativity
500 W. Pershing Road, Kansas City, MO 64108
816.216.5582 (D) | 816.931.2232 x1382 (O) | 816.931.1172 (fax)
kcballet.org
From: Tessitura Development Forum [mailto:forums-development@tessituranetwork.com] On Behalf Of Hannah Miller Sent: Friday, May 20, 2016 1:07 PM To: Marie Kocher <mkocher@kcballet.org> Subject: [Tessitura Development Forum] How many funds do you have?
Our finance department thinks of funds more broadly than the way we have them currently set up in Tess. They would like to have only three funds: Annual, Capital, and Endowment. This may just be the difference between the accounting definition vs. the development definition of "funds." Our one concern is that if we limit the number of funds, we'd also be limited the number of GLs. Fewer GLs would make it harder for our accounting clerk to know from the posting report where to enter the gifts in the accounting software.
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