In Accounting for Nonprofits, two additional account categories are available that are not included in traditional accounting charts of accounts:
     
    • Transfers - for interfund transfers. These accounts are treated like expense accounts and are closed into the fund balance account at year end.
       
    • Gifts - for recording donations from constituents. These accounts are treated like revenue accounts and are closed into the fund balance account at year end.

    In The Financial Edge, Transfers and Gifts are available as well as two additional account categories:
       
      • Losses - for recording losses such as losses on disposal of assets or on sale of marketable securities. These accounts are treated like expense accounts and are closed into the fund balance account at year end.
         
      • Gains - for recording gains such as gains on disposal of assets or on sale of marketable securities. These accounts are treated like revenue accounts and are closed into the fund balance account at year end.
       

      These additional account categories are provided to allow flexibility in the chart of accounts setup.

       

      In The Financial Edge you can choose to not use these categories:
       

      1. In Configuration, click Account Setup.
         
      2. Highlight Category definitions.
         
      3. Unmark the checkbox for these types of accounts.

        Note: If an account of this type already exists, this option cannot be unmarked unless the account is deleted.