Divisions or affiliate?
Where can I find more information about financial reporting parameters and effects on the GL for affiliates and divisions? Here's our situation:
we are receiving a farm that will be a separate legal and financial entity. It will be reported on a separate 990 from our organization, yet we'd like to be able to run financial reports where the farm's assets roll up into our statement of position.
Any opinions on how best to do that?
Thank you!
Best Answer
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Since you want the separate 990, a division will be best as that allows you to use the 990 reports. Basically, you want everything related to the farm to be in a separate fund (or funds) and assigned the new division code. By default, all of the financial reports will include everything. So you would either want to use "Fund Division" under the report options to show the farm division as a separate column or use the reverse filter to exclude that division from your reports.
You can do the same thing in the financials with the affiliate, but those do not automatically split out on the 990 - you would have to go pull those out manually.
2
Answers
-
Since you want the separate 990, a division will be best as that allows you to use the 990 reports. Basically, you want everything related to the farm to be in a separate fund (or funds) and assigned the new division code. By default, all of the financial reports will include everything. So you would either want to use "Fund Division" under the report options to show the farm division as a separate column or use the reverse filter to exclude that division from your reports.
You can do the same thing in the financials with the affiliate, but those do not automatically split out on the 990 - you would have to go pull those out manually.
2
