Setting up Activity Accounts for Contacts
You can track how much you’ve paid people and/or how much they’ve paid you using Activity Accounts.
These smart accounts help you gain a clear picture of the financial status of each individual based on the different ways they interact with your organization.
Step-by-step instructions for setting up Activity Accounts:
After adding a Contact, scroll down and look for this section. Click on the “hamburger” and select Help me set up activity accounts…:
Then click on Let’s Get Started:
In the Wizard window, determine whether this person (or company) typically GIVES you money, RECEIVES money from you, or BOTH. Then click Next.
In this example, I’m adding a Donor Activity account and a Reimbursement Activity Account to this Contact. Click Create Activity Accounts.
That completes the addition of the Activity Accounts. Don’t worry – you can still add/delete them if you need more activity accounts or different ones later. Now click Done.
Now click Save.
This is how your Contact will look:
When you pay someone or receive money from them, you’ll apply it to the person/activity account that’s applicable.
For example, if Carol Johnson donates $100 to my organization, I’ll start by clicking on New Deposit
I’ll fill out the fields of the deposit and click on Search for contacts…
I’ll type Carol’s name into the Search for contacts field to bring up my options. Then I’ll choose which activity account to apply the deposit to. In this case it’s the Donor Activity account.
If I click on Contacts and then Carol’s name I can see the balances in her Activity Accounts:
In this case I’ve also reimbursed Carol for some items. If I click on her Reimbursement Activity account I can see the detail behind the amount.