Transaction Types control the effect of each transaction that is entered into the system.

When you enter a transaction you are required to select a transaction type.  This will determine the other information you are required to enter on that transaction.

Your system was initialized with a set of transaction types that are all you need to handle most group's bookkeeping requirements.

Unless you plan to do fund accounting, we recommend that you not make any changes to this table.

To view the transaction types, go to Site Configuration → Transaction Types.

When your system is configured, two of the transaction types will be marked disabled:

• Starting Fund Balance
• Transfer Between Funds

If you are going to do fund accounting, you will need to enable these transaction types.

Click Update to select a transaction type to modify.

Transaction Type is the name that will appear in the transaction type list when you are entering transactions.

Deposit Date Required determines whether you will be required to enter an additional date - the Deposit Date - when entering this type of transaction.  For transactions that can be grouped together for bank deposits, requiring this date will make it easier to reconcile your bank statement.

Event For Which Payment Is Intended should only be selected on "deposit" transaction types which affect an individual's account balance.  If this box is checked, when you enter a transaction of this type you will have the option of indicating the event for which this payment is intended.  It will not cause the amount to be posted to this event's balance, but will allow you to view which members have made payments that were intended for this event.

Fund Debit Required should only be selected if you are doing fund accounting.  If this box is checked, when you enter a transaction of this type you will be required to specify a fund whose balance will be reduced by the amount of the transaction.

Fund Credit Required should only be selected if you are doing fund accounting.  If this box is checked, when you enter a transaction of this type you will be required to specify a fund whose balance will be increased by the amount of the transaction.

Fiscal Year should only be selected if you are doing fund accounting.  If this box is checked, when you enter a transaction of this type you will be able to enter the fiscal year to which it should apply.

The Disabled box will make this transaction type unavailable when adding or updating transactions.  Disabling a transaction type will have no effect on transactions that were already entered using this type.

The rest of the fields on this form will only be modifiable if you have not yet created any transactions that use this transaction type.

Group Debit Required will determine whether you will be required to specify a group account whose balance will be reduced by the amount of this transaction.

Group Credit Required will determine whether you will be required to specify a group account whose balance will be increased by the amount of this transaction.

Person Debit Required will determine whether you will be required to specify a member whose balance will be reduced by the amount of this transaction.

Person Credit Required will determine whether you will be required to specify a member whose balance will be increased by the amount of this transaction.

Event Debit Required will determine whether you will be required to specify an event whose balance will be reduced by the amount of this transaction.

Event Credit Required will determine whether you will be required to specify an event whose balance will be increased by the amount of this transaction.

Click Save & Exit to save your work.

For our Fund Accounting example, we made the following changes:

• On every transaction type where Group Debit Required was set to YES, we set Fund Debit Required to YES
• On every transaction type where Group Credit Required was set to YES, we set Fund Credit Required to YES
• We unchecked the Disabled box on the Starting Fund Balance and Transfer Between Funds transaction types

With the transaction types configured for Fund Accounting as described above:

• When entering most deposits, you would select "General Fund" as the Credit Fund.
• When entering a deposit that was made specifically for equipment (like a donation which was specifically for that purpose), select "Equipment" as the Credit Fund.
• When the group sets aside money to be spent for equipment, use the "Transfer Between Funds" transaction type to move the money from "General Fund" to "Equipment".
• When you purchase equipment for the group, select "Equipment" as the Debit Fund.
• When entering all other expenses, select "General Fund" as the Debit Fund.

You will then be able to view your General Fund and Equipment balances from the Funds page and drill down to the transactions that affected each balance.

You can also print a report showing your fund balances.