Profit and Loss By Job

Hello,

I am the Treasurer of a small Charity. We have to spend a lot of money on our Hall Repairs.

We want to track our money very carefully. We have a Club Night on a Friday Night:- We collect money at the Door, Sell Items including sweets, coke, soft drinks etc, have a Raffle or Tombola.

Four Streams of Income are Recorded, Door, Kitchen, Raffle, Tombola

How do I record these different streams as Income and all the expenses relating to Club Night.

Example: Income is Charity Name is "Customer", Job is "Club Night" Sub of Job "Club Night" is "Door" "Kitchen" and "Raffle"

Expenses Point to "Charity Name" as "Customer" and Job as "Club Night"

I cannot get the Profit and Loss by Job to show the Income Streams as seperate Streams of Income

Any suggestions

Thank you

William Henry

Answer

Let's take a  bit at a time: "We have to spend a lot of money on our Hall Repairs."

Repairs or Improvements? Improvements to the Building = Asset, not Expense.

Example: One broken window = Repairs expense. New Flooring throughout = Fixed Asset Improvement as Expenditure, but not as Expense.

"We want to track our money very carefully. We have a Club Night on a Friday Night:- We collect money at the Door"

Then you will use Sales Receipts.

"Sell Items including sweets, coke, soft drinks etc, have a Raffle or Tombola.

Four Streams of Income are Recorded, Door, Kitchen, Raffle, Tombola"

That is Items. Service items and Noninventory items and Other Charge items.

"How do I record these different streams as Income"

Examples: Donation "service type" Item, linked to Donation income;  Service Items for Event tickets and Door Fees are as many items as you want, all linked to one Program Fee Income account. Food and beverages are Noninventory Items, linked too COGS and to Income, if you buy and sell them.

"and all the expenses relating to Club Night."

That's why you would use two sided items, so that when you order in specific Goods, you list "Beverages" noninventory item (linked to COGS) for Club Night (job tracking, but as Not Billable) and later, you would list this on the Sales Receipt for the event. Now you can compare, by running sales reports, item and job profit reports, and P&L by Job.

"Example: Income is Charity Name is "Customer""

No' your Charity is the entire company file. Customer Name is your Event.

"Job is "Club Night" "

You don't really need to drop down a level; everything you do is this Charity. If you need to keep it separate from Corporate Sponsors and Grantors, sure, that is fine, then.

"Sub of Job "Club Night" is "Door" "Kitchen" and "Raffle" <== Items and not Jobs.

Items = Activities for that event.

"Expenses Point to "Charity Name" as "Customer" and Job as "Club Night""

Items that are Two Sided, used on all transactions, will handle Both Expense and Income for you.

"I cannot get the Profit and Loss by Job to show the Income Streams as seperate Streams of Income"

Please see my attachments.

And I recommend the book Running QB for Nonprofits, by Kathy Ivens. It is a US book, but it still has everything that applies for you.


Here's a blog article for the Sales Receipt Summary for that event:


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