Fund Accounting That Makes Sense
Clear fund structure helps an organization understand not only how much money it has, but what that money is intended to support.
- Establishing or reviewing fund structure
- Tracking restricted and designated funds
- Recording transfers between funds
- Maintaining fund balances
- Separating operating activity from special-purpose funds
- Tracking capital projects
- Reporting on ministry or program activity
- Reviewing endowment and investment-related accounting
Our goal is to make fund accounting understandable and useful to the people responsible for overseeing the organization.
Aplos Fund Accounting Setup & Support
Accounting software designed around the needs of churches and nonprofit organizations.
Traditional business accounting systems are primarily designed to track income, expenses, assets, liabilities, and profitability. Churches and nonprofit organizations often need to answer an additional question: not only where is the money, but what is the money intended to support?
Aplos is designed specifically for churches and nonprofit organizations. Its fund-accounting structure can make it easier to track restricted, designated, and unrestricted resources without relying on multiple bank accounts, spreadsheets, or informal “envelope” systems.
OM Business Services can help an organization design its accounting structure, set up Aplos, transition existing records, and develop financial reports that make fund balances and organizational activity easier to understand.
- Initial Aplos setup
- Chart of Accounts design
- Fund structure and fund setup
- Beginning balances
- Bank connections
- Account reconciliation
- Budget setup
- Financial statement preparation
- Transitioning from QuickBooks or another accounting system
- Ongoing bookkeeping and reporting
- Training for staff and volunteer bookkeepers
- Support for treasurers and finance committees
Where appropriate, we can also help determine whether an organization's existing QuickBooks structure is adequate or whether moving to a true fund-accounting system would provide clearer and more useful reporting.
Could Aplos Be a Better Fit for Your Organization?
Every church and nonprofit is different. Before changing accounting systems, it makes sense to look at your current bookkeeping, fund structure, reporting needs, and the people who will actually use the system.
We can help you evaluate whether Aplos would provide clearer fund accounting and financial reporting for your organization, and help with setup, conversion, training, and ongoing support if you decide to move forward.
Prefer to explore the software first? Learn more about Aplos here.
OM Business Services participates in the Aplos Partner Program and may receive referral compensation when an organization becomes an Aplos customer through our referral link.
Financial Reports for Boards, Committees & Congregations
Reports should be accurate, but they should also be understandable.
- Statement of Activities
- Statement of Financial Position
- Budget-to-Actual reports
- Fund balance reports
- Designated and restricted fund summaries
- Capital project reports
- Cash and investment summaries
- Customized management reports
We can help present financial information in a format that gives finance committees, boards, and congregations a clearer view of the organization's financial condition.
Budgeting & Financial Planning
A useful budget should show both where resources are expected to come from and what the organization intends to accomplish with them.
- Annual operating budgets
- Ministry and program budgets
- Capital project budgets
- Budget-to-actual analysis
- Use of accumulated fund balances
- Planning for major repairs and renovations
- Evaluating recurring deficits
- Developing clearer budget presentations
We can help organizations move beyond a simple list of account balances and toward a budget that is easier for leadership to understand and use.
Improving Financial Procedures
Good accounting depends on good procedures before transactions ever reach the accounting system.
- Sunday collections
- Deposits
- Expense reimbursements
- Accounts payable
- Check-writing procedures
- Documentation and receipts
- Approval processes
- Separation of duties
- Monthly reconciliation
- Financial reporting responsibilities
We can review existing procedures and suggest practical changes that improve accuracy, accountability, and efficiency without making the process unnecessarily complicated.
Cleanup, Conversion & Transition Assistance
Organizations often come to us because the accounting system has become confusing, inconsistent, or difficult to maintain.
- Cleaning up existing books
- Reorganizing the Chart of Accounts
- Correcting fund balances
- Establishing beginning balances
- Transitioning from QuickBooks to Aplos
- Moving from informal bookkeeping to fund accounting
- Preparing records for year-end review
- Improving reporting after a system conversion
We can help make the transition orderly and preserve the financial history needed for accurate future reporting.