Accounting Structure | <– Date –> <– Thread –> |
From: Lydia & Ray Ducharme (ducharm1cadvision.com) | |
Date: Wed, 4 Oct 2000 20:08:34 -0600 (MDT) |
This is a multi-part message in MIME format. ------=_NextPart_000_0015_01C02E3E.A6704700 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable Hi Jan, You asked at the Bellingham Conference if I could provide you with our = accounting structure. Here it is. I put it on the cohousing list in = case anyone else was interested.=20 As I mentioned we use the Quick Books Accounting Program. =20 As far as our accounting structure, here's what I think your Treasurer = would be particularly interested in:=20 1) the Equity Member Contributions (money from members who finance the = project) are included in the liability section of the Balance Sheet (set = up as ACCOUNT TYPE Long Term Liabilities). Enter the amount that each = Equity Member contributes toward the project here. This amount will go = towards the eventual price of their home. 2) We charge $100 to join and then $30/month in Operating fees. We cap = it at $480 so that the early members are not penalized. The QUICK BOOKS = ACCOUNT TYPE for these accounts is "Income".=20 3) Our Operating expenses include the following accounts so far - Hall = Rental, Marketing, Hospitality, Baby Sitting, Books, Office Supplies, = Service Charges and Telephone. The QUICK BOOKS ACCOUNT TYPE is = "Expenses".=20 4) So far we've also incurred some project costs such as Development = Consultants (by name), Incorporation, Interest (borrowing charges) and = Legal Fees. I've set them up as QUICK BOOKS ACCOUNT TYPE "Other = Expenses". When Marketing becomes a major expense of the project it = will also be included here. 5) When the time comes, the amount charged to members for their units = will be reported under ACCOUNT TYPE "Other Income". Quick Books puts the "Income" and "Expenses" at the top of the Profit = and Loss Statement (often called Income Statement). It puts the "OTHER Income/ Expenses" at the bottom. That way we keep = our OPERATING income and expenses separate from our DEVELOPMENT income = and expenses (costs of our units).=20 That's how we're doing it so far. Other groups may have other ideas = regarding the accounting. =20 Let me know if you or your Treasurer have any other questions. =20 Lydia Ducharme WholeLife Housing Calgary, Canada ------=_NextPart_000_0015_01C02E3E.A6704700 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable <!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> <HTML><HEAD> <META content=3D"text/html; charset=3Diso-8859-1" = http-equiv=3DContent-Type> <META content=3D"MSHTML 5.00.3018.900" name=3DGENERATOR> <STYLE></STYLE> </HEAD> <BODY bgColor=3D#ffffff> <DIV><FONT size=3D2>Hi Jan,</FONT></DIV> <DIV> </DIV> <DIV><FONT size=3D2>You asked at the Bellingham Conference if I could = provide you=20 with our accounting structure. Here it is. I put it on the = cohousing=20 list in case anyone else was interested. </FONT></DIV> <DIV> </DIV> <DIV><FONT size=3D2>As I mentioned we use the Quick Books = Accounting=20 Program. </FONT></DIV> <DIV> </DIV> <DIV><FONT size=3D2>As far as our accounting structure, here's what I = think your=20 Treasurer would be particularly interested in: </FONT></DIV> <DIV> </DIV> <DIV><FONT size=3D2>1) the Equity Member Contributions (money from = members who=20 finance the project) are included in the liability section of the = Balance Sheet=20 (set up as ACCOUNT TYPE Long Term Liabilities). Enter the amount = that each=20 Equity Member contributes toward the project here. This amount = will=20 go towards the eventual price of their home.</FONT></DIV> <DIV> </DIV> <DIV><FONT size=3D2>2) We charge $100 to join and then $30/month in = Operating=20 fees. We cap it at $480 so that the early members are not=20 penalized. The QUICK BOOKS ACCOUNT TYPE for these accounts is=20 "Income". </FONT></DIV> <DIV> </DIV> <DIV><FONT size=3D2>3) Our Operating expenses include the following=20 accounts so far - Hall Rental, Marketing, Hospitality, Baby = Sitting,=20 Books, Office Supplies, Service Charges and Telephone. The = QUICK=20 BOOKS ACCOUNT TYPE is "Expenses". </FONT></DIV> <DIV> </DIV> <DIV><FONT size=3D2>4) So far we've also incurred some project costs = such as=20 Development Consultants (by name), Incorporation, Interest (borrowing = charges)=20 and Legal Fees. I've set them up as QUICK BOOKS ACCOUNT=20 TYPE "Other Expenses". When Marketing becomes a major = expense of=20 the project it will also be included here.</FONT></DIV> <DIV><FONT size=3D2><FONT size=3D2> <DIV><FONT size=3D2></FONT> </DIV> <DIV>5) When the time comes, the amount charged to members for = their units=20 will be reported under ACCOUNT TYPE "Other Income".</DIV> <DIV> </DIV> <DIV><FONT size=3D2>Quick Books puts the "Income" and "Expenses" at the = top of the=20 Profit and Loss Statement (often called Income=20 Statement).</FONT></DIV></FONT></FONT></DIV> <DIV><FONT size=3D2><FONT size=3D2>It puts the "OTHER Income/ = Expenses" at the=20 bottom. That way we keep our OPERATING income and expenses = separate=20 from our DEVELOPMENT income and expenses (costs of our=20 units). </FONT></FONT></DIV> <DIV> </DIV> <DIV><FONT size=3D2>That's how we're doing it so far. Other groups = may have=20 other ideas regarding the accounting. </FONT></DIV> <DIV><FONT size=3D2></FONT> </DIV> <DIV><FONT size=3D2>Let me know if you or your Treasurer have any other=20 questions. </FONT></DIV> <DIV> </DIV> <DIV><FONT size=3D2>Lydia Ducharme</FONT></DIV> <DIV><FONT size=3D2>WholeLife Housing</FONT></DIV> <DIV><FONT size=3D2>Calgary, Canada</FONT></DIV></BODY></HTML> ------=_NextPart_000_0015_01C02E3E.A6704700--
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