In this presentation, we will enter a transaction related to the receipt of a government grant into our not for profit organization. Get ready, because here we go with aplos. Here we are in our not for profit organization dashboard, we’re going to head on over to our Excel file to see what our objective will be, we’re going to be in tab four. So we’re in tab four, where we have a contribution that’s going to be for the school over to our description up top. So this is going to be the government grant to be used for education. So we’re going to get money, we got money from a government grant. And we have to use it for a specific reason, they put a restriction on it in other way.
00:43
In other words, that being for education, one of our sources or one of our programs, so we’re going to say then cash is going to be going up, the other side is going to be going through a type of income account, which is the contributions but it will have a restriction for eight. So we have the contributions restricted, then if we go to the right, we’re going to say that the cash will be going up in terms of the balance sheet accounts. The other side being income income going up, however, it will be restricted, the two incomes being reflected here as restricted and unrestricted by two separate accounts, we can then see the statement of activities where we could pull that over, break that out not by two separate accounts, this is basically the income statement, but instead by two columns, so we have our contributions we have with restrictions, and without restrictions, we’re going to be using the funds feature within aplos in order to do that.
01:33
Alright, let’s go back over to aplos and see what we have. So we’re in our system. Now, we can enter this into our donations here. So we can enter it into our donations, we’re going to have another contribution or contribution happening. But we can’t use the same purpose because the normal donation is going to go into a separate account. So we need to set up another purpose, which is kind of like kind of like an item or service item or inventory item for a for profit organization, then we’re going to go to the plus button. So we’ll hit the plus button, and we’re going to add the other purpose, and I’m just going to call it go Brant restrict was just call it Gov grants. And so we have that it’s going to be a restricted go.
02:18
Grants, and then I’m going to say it’s going to be then the income account will be restricted, that’s gonna be the fund the account, it’s going to go to the fund the columns, the two column income statement is going to be in the restricted fund. And then we’re going to give a further tag of the type of restriction. Now we haven’t added that further tag of type of restriction. So we need to add because all we have now is a time restriction. So let’s go back up top, I’m going to right click on this tab up top. And I’m going to duplicate this tab. So I can go ahead and work on it without having to remove myself from the screen, which is again, great feature for these kind of online softwares, allowing you to move around in multiple tabs, then we’re going to go then to the accounting, let’s go to the fund accounting, we want to then go to the accounting drop down.
03:09
So we got fund accounting, accounting drop down, and then we’re going to take a look at those tags. So we want to go into those tags. Once again, we’re going to be adding another tag. So here’s our tasks, we have the unrestricted and the restricted, we’re going to go into the restricted tags, where we only have one tag thus far, we’re going to add another tag. So I’m going to say plus, I’ll make it a good old 500 for the tag, or let’s make it 600 on the tag and a tag name, we’re going to say Gov grants, education, Grant education. And we’re not going to be a sub tag. Notice we can use the sub tags, it’s nice to to understand if we wanted to group it into basically a sub category. But any case, we will then say add. And so there we have our second tab. All right, that looks good.
03:58
Now let’s go back to our first tab up top, back to the first tab and see if we can populate that here in the restricted item. Now that’s where it should pop up. 600 see if it populates it does so it populates for us. Notice if you’re getting close to the bottom of the screen, you can hold down Ctrl and scroll down if you’re on a Windows computer. And then and so now we have our education grants, we could see a little bit more down here. So that looks good. Now let’s go ahead and save this. I’m going to save this, then we can go back into our contributions. So I’m going to go back into contributions. We’re going to go into our contributions, drop down some and don’t I’m in donations, now. We’re in contributions, drop down contributions, and then we’re going to add a contribution. So let’s add another contribution. And the contribution is going to be from the government.
04:51
And I’m going to call it Gov one just for a generic name of the government. Now you might want to add detail to break out like state and and state Government contributions, as well, just to just to note, and you might do that by by separate accounts for the state, and the Fed. But in any case, I’m going to say, then it’s going to be government grant. So that’s going to be our item, that’s going to be the thing that’s going to help this be driven to the correct account, as we saw before, so we just saw the accounts that we set up for it, I’m gonna say acknowledged or unacknowledged. So we haven’t sent you know, a thank you letter for or whatever, at this point. And then we’re going to go back to January and say, this is going to be for January 4, the amount, then let’s go ahead and check that out in Excel, and see what the amount is, I’m going to go back to the left, I’m going to scroll up to the top, that’s 159159000.
05:46
So we’ll make the amount of been 159000. reference, nothing I’m not going to put a note on it probably should, but I won’t know expenses related to it, non deductible, not putting anything there, nothing there. So I’ll keep it as is them. So when I record this, it’s gonna it’s going to be recording. And, well, let’s record it first, and then we’ll record the deposit. So I’m going to say, Save and Close. Note that in and of itself doesn’t, doesn’t enter into the system at this point until we record the deposit. So now we can go in and report the deposit. Note also that when we did this, we ran this through basically the donations.
06:26
So that means that this is going to be showing up if we run basically our our contributions report. If if we didn’t want that to be the case, and we didn’t want to run it through our standard donations, we could enter it in some other way in our in just in our accounting with like a journal entry or something like that, rather than going through the donation process. So just you know, be aware of that. But we’re going to be now we’re going to deposit it in the same fashion as we done before. So we’re going to then go to the little checkbox here, we’re going to create a deposit, we will then create the deposit. And once again, this will repopulate up top. So this is another way we could have entered this a little bit, you know faster straight into the deposit screen. And so we have the 159. And everything looks good except the date and change the date, bringing this bond back to what did we say the fourth? I think we did.
07:19
I think that’s what we said. That’s what I’m going with. That looks good. Let’s go ahead and save it. Let’s check that off and save that out. All right, so then we have our deposits. Let’s go back to our second tab that’s currently open. Let’s open up our reports with it. Now, by going to the reports on the right hand side, we’re going to be opening up our favorite two reports. Not really the balance sheet or income statement, but the balance sheet by Fund and the income statement by fund because yes, they’re more fun to open. And then we’re gonna go back to the tab on the left, we’re gonna open the other one up. So I’m gonna, I’m gonna go to the reports, we’re gonna be then opening up the income statement.
08:01
Now I also have them in our favorite items up top, because I put a little yellow star by them. If you don’t have them up here, you can find them down below, and then put the little star next to them. If you haven’t done so, so far, which you really should have if you’ve been watching, you know what we’ve been doing it because this these are important, important report. So then we’re going to go back up top, I’m going to duplicate this tab, right clicking on this tab, duplicate that tab, then we’re going to go back to the tab to the right, and we will then update this one, let’s make it the little drop down and then make this back to January, January 31, January 31. So there we have that checking account then should be increasing.
08:43
So we have the checking account increased. And notice it’s in the restricted item, there’s a checking account increased. On the restricted side note, again, the balance sheet, you have this option here of having the balance sheet be broken out between the restricted and unrestricted, that’s, that’s a little bit different than you would typically have in something like if you were doing this in a in a QuickBooks, which really breaks out the balance sheet by the by the kind of like the funds, you can use classes to break them out but doesn’t usually have that same capability up here on the on the I’m sorry, breaks down the income statement, but not so on the balance sheet typically.
09:20
Also note you might want a total column on this report, you can do so by going up top and saying I want what you give me the total column plays total column like total this thing up. So then we’ve got our breakout between the restricted unrestricted and then our, our total cash so it’s kind of nice that we can then be looking at our cash account and be able to kind of you know, get a get an idea of the breakout between the restricted and unrestricted items here. Okay, so then let’s go back over to the income statement up top, we’ll go to the income statement drop down. Let’s take a look at this year to date the year to the current To date, so long as it’s including January, that should work for you, as well. So then we have the restricted item up top, here’s the restricted item that 267. If we were to click on that 267, we can drill down on to that information.
10:14
Here’s the deposits that we have the contribution deposits. If we were to drill down on that, we would get to the source documentation. So let’s go on back, as we, as we’ve seen in the past, I won’t do that again. Then I’m going to go back to the first tab, let’s go back to the first tab again, let’s go to another report, let’s go to our reports drop down, and say let’s check out another report, because reports are fun to check out, especially the fund reports, those are really fun. So then we’re going to go down to the reports by tag. So the reports by tag, and I want to see the income statement. So we’re going to check out the income statement that is restricted. So restricted tag, income statement. Alright, that’s the one we want, we’ll open that one up, I’m gonna say the date is going to be the year to date, this, this year to date.
11:06
That’s what we need. And there we have it. So now we’ve got the two restricted items, two restrictions. So you’re imagining what’s what’s happening. Now we’re gonna say, all right, if we’re presenting this information to somebody else, somebody’s presenting it, we could say, Here’s basically your balance sheet. And maybe you want to break out the balance sheet like this, or maybe you want to give just a normal balance sheet, because this could overwhelm people. But it’s nice to have the balance sheet like this to give an idea of basically the assets and whatnot, out in by by fund, although typically, you’re kind of showing that in the equity section down here, which is the net assets, saying,
11:42
Hey, here’s the breakout between restricted and unrestricted in terms of net assets, assets, minus liabilities. But in any case, you have that or you might just want to give them you know, the one balance sheet and show it by fun down here, which might be easier to see. Because again, your goal is to give this to someone and not overwhelm them at first, because it can be a lot of information. Once you start breaking this down by the funds and whatnot, then, of course, you go to the income statements, okay, the income statement by by, by fund here. So here’s the income statement by fund, once again, we probably want the total column as well. So you can say, hey, I’d like to drop down here, would you give me the total column to total column, apply that out.
12:23
And so again, this can look a little overwhelming compared to a normal income statement, cuz you got three columns, you got the restricted to unrestricted, and then of course, the total column. And then you could say, Okay, well, here, they’re going to the question then that we’re expecting, we’re kind of hoping for more questions about it. Well, what are the restricted items? What are the unrestricted items, and then we’re going to go all right, so here’s the restricted items, it’s going to add up to a total of the 260 7000. That’ll be done by this report, giving us that 260 7000 and our two restricted items are time and the government grant education which add up to that 267. That’s gonna be it for now. Let’s get out of here.