Default account setup happens during implementation with the assistance of your Foundant team member. Additional information is found below.
CommunitySuite's System Default Accounts are divided into four sections.
- Required - The accounts located in the Required section must be set up for the system to function. If a field is blank, then processing those types of transactions may not be possible. Each account used in the Required section must be unique; no account can be listed twice. Default accounts allow users to process many transactions using predefined accounts which can reduce errors and increase efficiency.
- Optional – Accounts in the Optional section can be set to save time during transactions or to use the Agency and Grant Card functions. They can remain blank if desired.
- Term Investments - Accounts in the Term Investments section are not visible until Term Investments have been enabled in your site.
- Deprecated – Disregard this section. It has no functionality in the system.
If a CommunitySuite default account is chosen for use, it can be edited to fit into your chart of accounts. Navigate to the chart of accounts, click the Account ID, and then edit the account number.
Default account settings should not use the same account for more than one payable or receivable. If applied to more than one receivable or payable, a warning message, as shown below, will display.
Accounts listed in the warning message cannot have journal entries posted to them. They will need to be modified from the related scholarship, voucher, grant, etc.

Required
- Accounts Receivable - Use for non-deductible transactions. If your organization does not already have an accounts receivable account, then edit the CommunitySuite default one to fit into your current account structure.
- Examples of non-deductible transactions would include the collection of rent by the foundation for conference rooms rented out or individuals reimbursing the foundation for expenses incurred.
- Internal Grants Receivable - Internal Grants Receivable, Grant Expense Internal, Internal Grants Payable, and Donation Income – Internal are similar and work together; their use is recommended for moving internal money between funds.
- This is required for the Internal Grant functionality to work properly.
- These accounts are used as a clearing account so the only time a balance would exist is if an internal grant was not completed or stopped during the process.
- Pledge Receivable - Use to record the outstanding amount owed from an open pledge.
- If your organization does not use pledges, then you can set this account to be blank which will prompt the system to issue an error message in the event someone tries to enter a pledge.
- Undeposited Checks/Cash - Cannot be changed except for editing the account number to fit into your current account numbering structure. Check payments go through this account, and this is where the money is held until it is deposited into a selected account in CommunitySuite.
- This is often referred to as a clearing account.
- Undeposited Non-Checks/Cash - Stripe/Square payments, public securities, in-kind, and other payment methods go through this account. The dollars associated with these transactions will be held in this account until they are reconciled (deposited) within CommunitySuite.
- This is often referred to as a clearing account.
- Admin Fee Expense - Works with the Admin Fee Revenue account. Used for posting the expense side of the admin fees on each of the funds.
- Grant Expense - Use to record the expense of external grants.
- Grant Expense – Internal - Grant Expense Internal, Internal Grants Payable, Donation Income – Internal, and Internal Grants Receivable are similar and work together; their use is recommended for moving internal money between funds.
- This is required for the Internal Grant functionality to work properly.
- Used as a clearing account so the only time a balance would exist in it is if an internal grant was not completed or stopped during the process.
- Interfund Transfer - Recommendation to use the Internal Grants Receivable, Grant Expense Internal, Internal Grant Payable, and Donation Income – Internal accounts rather than this account because they provide a more robust fund statement and greater transparency.
- If this account is set and used it must be an expense account. Therefore, on a fund that is receiving the transfer of dollars from another fund, this will show as a negative expense on the fund statement.
- Payment Processing/Credit Card Fee Expenses - Use for the credit card fees that are assessed on a per credit card donation transaction fee.
- This is not the account to record any interest paid on an organization’s credit card usage.
- Scholarship Expense - Stand-alone scholarship expense.
- Till Adjustments - Leave the default account and edit the account number information to fit into your account numbering structure.
- Accounts Payable - Set this to the account that is used to pay invoices, vendors, etc.
- This is the liability account where unpaid foundation bills are recorded; this does not include grants or scholarships.
- Grants Payable - Set this to the account that is used to pay grants.
- This is the liability account where unpaid grant balances are recorded.
- Internal Grants Payable - Internal Grants Payable, Donation Income – Internal, Internal Grants Receivable, and Grant Expense Internal are similar and work together; their use is recommended for moving internal money between funds.
- This is required for the Internal Grant functionality to work properly.
- Used as a clearing account so the only time a balance would exist in it is if an internal grant was not completed or stopped during the process.
- Scholarship Payable - Set this to the account that is used to pay scholarships.
- This is the liability account where unpaid scholarship balances are recorded.
- Unapplied Payments - Allows you to record/deposit a donation before you know its specific purpose or fund.
- This is a liability account that will hold the funds until additional information can be found and the donation can be recorded accordingly.
- Retained Earnings/Year End Closing - This account should match the default account you selected in Restrictions.
- It is used at the end of the year while closing the books.
- System Conversion Transfers - Leave this account blank or speak with your Foundant team member.
- It is used during the migration process and usually is not needed after that.
- Admin Fee Revenue - Works with the Admin Fee Expense account. Used for posting the revenue side of the admin fees on the receiving fund.
- Although CommunitySuite allows you to set the Revenue account per admin fee type, this should be the account used for the majority of the Admin Fee Revenue.
- Donation Income – Default/Online - Use for your online donations/gifts.
- These are your Stripe/Square/online payment processor gifts.
- Donation Income – Internal - Donation Income - Internal, Internal Grants Receivable, Grant Expense Internal, and Internal Grants Payable are similar and work together; their use is recommended for moving internal money between funds.
- This is required for the Internal Grant functionality to work properly.
- Used as a clearing account so the only time a balance would exist in it is if an internal grant was not completed or stopped during the process.
- Pledge Contributions - Used for pledges.
- If your organization does not use pledges, then you can set this account to be blank which will prompt the system to issue an error message in the event someone tries to enter a pledge.
- This is the revenue account that will allow you to separately see how much revenue is associated with pledges within CommunitySuite.
Optional
- Conversion Asset Pool - This account is set and used during migration.
- If you are going through migration, it is beneficial that this account has a zero dollar balance.
- If it does have a balance, that is something to inform your Foundant Team Members of to help research why.
- If you are going through migration, it is beneficial that this account has a zero dollar balance.
- Default Public Security Holding Account - Asset account where a public security is received until it is sold.
- This account can also be the same account that will receive the proceeds.
- This is only for those donations that use the Public Security Payment Method.
- Default Public Security Sale Account - Asset account where proceeds from the public security sale will go.
- This account can also be the same account that will hold the unsold public security shares.
- This is only for those donations that use the Public Security Payment Method.
- Internal Grant Payment Account - Asset account that is used to transfer internal funds.
- If left blank, you can choose which account to use for each transaction.
- Loan Receivable - General ledger account for loan balances to be received.
- Default Public Security Fees Account - Expense account for brokerage fees associated with Public Security Gifts that use the Public Security Payment method.
- Default Voucher Request Expense - Expense account for voucher requests.
- Grant Card Expense - Use when your foundation uses charitable gift cards.
- Agency Fund Liability - Use with funds designated as Agency Fund.
- This is required to make CommunitySuite’s full Agency Fund functionality work.
- Grant Card Liability - Use when your foundation uses charitable gift cards.
- Loan Payable - General ledger account for loan balances to be paid.
- Agency Fund Equity - Should be used with funds designated as Agency Fund.
- CommunitySuite’s Agency Fund functionality will not work without this account being set.
- Currency Adjustment - Required to have an account that is not the main currency.
- For example, a USD foundation would need to have a CAD account.
- Default Public Security Gain/Loss Account - Holds the difference between the recorded value as a donation and what you received upon the sale of the public security.
- Loan Interest - General ledger account for recording interest earned by loans.
Term Investments
- Default Asset Account - Bank/Investment account for the borrowing fund.
- Investment in Portfolio Receivable - Receivable on the investing fund.
- Early Repayment Fee - Expense on the investing fund.
- Interest Distribution Expense - Expense on the borrowing fund.
- Interest Income Distribution - Expense on the investing fund for paying out interest distribution (the expense account on the voucher).
- Principal Due to Investors Liability - Liability for the borrowing fund.
- Early Repayment Revenue - Revenue for the borrowing fund.
- Interest Income from Portfolio - Revenue for the investing fund for interest calculation.