fund accounting system

mylam

Senior Member
United States English
Field and topic: Accounting - Instead of having income and expense accounts, you have funds. Income and expense go into and out of that one fund.

For example, instead of having "Church income" and "church expense" accounts, with donations going into the income account and expenses coming out of the expense account, you would have a "Church maintenance fund".
Donations would be credited to this fund, and expenses debited to this same fund.
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Sample sentence: Even some professional accountants are not familiar with the fund accounting system used by most churches and charities.
 
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  • Fernando

    Senior Member
    Spain, Spanish
    I am not sure we are talking about the same, but the most similar thing I can think of in Spain is the accounting in non-for-profit organizations, which have a kind of budget-accounting approach, such as sport clubs, fundations and "Obra Social" of the savings accounts institutions (Cajas de Ahorros).

    So, I would say "incluso algunos contables profesionales no están familiarizados con el sistema de contabilidad de fundaciones utilizadas por la mayoría de las iglesas y organizaciones de caridad."

    Let me know if it fits.
     
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