This is the preferred model for configuring NetSuite to manage nonprofit operations.
Solution Overview
A charity classifies income and expenses on multiple dimensions:
- Chart of Account: Standard financial account. (NetSuite Account)
- Activity: Functional categorization of income and expenses. (NetSuite Class)
- Funding Source (grant): Categorization by funding source. (NetSuite Department)
- Items: Items represent the types of things you sell ― sell including donations, pledges, grants, inventory items and much more (NetSuite Items)
Many charities use chart of accounts segments to track a wide variety of additional information. NetSuite provides the capability to add two additional dimensions which can be used for its native
purpose or another purpose unique to your situation.
- NetSuite Location (or: <your renaming of location>)
- NetSuite Subsidiary (or: <your renaming of subsidiary>)
Classes
Departments
- Unrestricted Revenue
- Temporarily Restricted Revenue
- Time Restricted Revenue
- Use Restricted Revenue
- Permanently Restricted Revenue
- Fundraising Expenses
- Special Events
- Professional Fundraising Fees
- Management & General Expenses
- Executive
- Information Technology
- Human Resources
- Legal
- Program Expenses
- Program A
- Activity 1
- Activity 2
- Activity 3
- Program B
- Activity 4
- Activity 5
- Program C
- Activity 6
- Program A
Locations
- d
- d
- d
- dd
- d
- d
- dd
- d
- d
- d
- d
- d
- d