User Support Forum

Here's my question - we have a new pastor and part of his call included the church paying for his moving expenses when he sells his house in his former location. The officers want to set aside $5,000 from unrestricted funds so that when he does incur that expense, we'll have it ready. The examples I've seen on the forum involve transactions such as

01-4030-000 $5000.00 Debit (this is our unrestricted income account)
01-4205-106 $5000.00 Credit (this is the restricted income account)

When I enter the above transaction, the Unrestricted Net Assets account does decrease by $5000 and the associated Temporarily Restricted Asset account increases by $5000.

But when I do that, my income for the month becomes understated by $5000.Is that a necessary evil or is there another way to transfer that money without it showing up on the Income and Expense Statement?

Some people like to spend their time on Pinterest - I like to read the forums on PC+!

An alternative you might want to consider is to set up a sub account to your checking account (e.g. 01-1110-005) for this set aside and then input an entry that debits this account and credits the checking account (e.g. 01-1110-000). Once this entry is input, when you run the Balance Sheet you will see that this money has been segregated from your checking account balance. Then, when the moving expenses are paid credit this sub account instead of the checking account.

Thanks, Matt! I think this will do the trick! I appreciate your help
Betsy