Course Content

Total learning: 10 lessons Time: 6 hours

Fundamentals Of Accounts, Funds, And Tags

Get the financial reports your organization needs by knowing how to set up your unique chart of accounts. This lesson will help you understand the difference between accounts, funds, and tags in Aplos. You will learn when and how to use each one, and how to best organize your accounts to accomplish your reporting needs. 

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Topics we will cover in this video include:

  • Financial Reports
    Think of reports as answers to questions someone might have about your organization’s financial activity, position, behavior, and stewardship. Reports use the data stored in the software to answer those questions. Go to your reports in Aplos. View the resource for generating reports.
  • Chart Of Accounts
    Your chart of accounts is essentially a list of categories you use when recording transactions. These accounts would include your assets, liabilities, equity, income, and expenses. You can create your accounts and sub-accounts, and then group them together by type. In the next lesson we will go more in-depth on how to edit your chart of accounts and enter starting balances. Go to your chart of accounts in Aplos. View the resource on setting up a chart of accounts
  • Funds
    A fund contains money your organization receives that must be used for a specific purpose. Each fund is like a mini entity within your organization that has its own separate chart of accounts. Go to your chart of accounts in Aplos to create or edit funds. View the resource for what funds are.
  • Tags
    Accounting tags allow you to further categorize your transactions in order to see more detailed information on your reports. Tags are an add-on feature in the Aplos Software Suite. We review how to use accounting tags in a separate lesson. Go to your accounting tags in Aplos. View the resource on accounting tags.