How to categorize Equity accounts from QB?

Jon Neal
Jon Neal
Fourth Anniversary Kudos 1 Facilitator 1
in Blackbaud Financial Edge NXT® General Discussions

Hello! We just recently moved over to FENXT, from Quickbooks. Previously we had some “Funds” set up that carried ongoing balances. In Quickbooks they were set up as Equity accounts. I don't see that as an option in FENXT? What would categorize these as? Thank you!!!

Comments

  • James Hess
    James Hess
    Ninth Anniversary Name Dropper Facilitator 1 Loyalty Badge
    We use Projects to track moneis that carryover from year to year. A project can have Revenue and Expenses and the Net is the 'fund balance' for the project. We mainly use it to track what used to he called "Temporarily Restricted " donations to our not-for-profit.


    - Jim
  • Sannyasin Siddhanathaswami
    Sannyasin Siddhanathaswami
    Ninth Anniversary Kudos 2 Name Dropper Participant

    Yes. Just like James, we use projects for this. It's a core part of our accounting with NXT. Though, I'm not familiar with Equity accounts in QB, it sounds like each equity account would be a Project in NXT.

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