MemberJune 1, 2023 at 2:23 pm
We separate grants from individual gifts based on whether we had to apply for the grant or not. If the gift did NOT require an application, we record it to the Individual Giving G/L and NOT as a Private Grant.
(By the way Government Grants are recorded in a separate G/L from Private Grants, as they are really two different animals.
You could also create sub-G/L’s within Individual Giving if you wish – for Donor Advised Funds, Bequests, Corporate Giving, you name it. Or you could accomplish the same thing by using a separate segment/dimension if your accounting software allows it. For example, all Individual Giving could be recorded to the same “G/L Account”, but could be recorded to a different “Funding Source”