User Support Forum

The Set-up Assistant created 3 accounts for each of my restricted items.

an income account
a release income account
an equity account.

As I now read about paying out restricted money, it looks like I also need
a corresponding expense account in my chart for each restricted item.

For example, I have the Ten Dollar Club (Camping) and Kid's Club.
To pay money out, it seems like I need a Ten Dollar club expense account
and a Kid's Club expense account.

(I understand that if the Ten Dollar Club was paying for office supplies, I could just put it to that expense account. But they pay camp scholarships, which is not now listed in our chart of accounts.)

I assume I'll just have to had all these expense accounts one at a time.

Thanks.

Jerry Hatton

If you need a specific expense account for each restriction, you will have to add it manually using the Maintain Chart of Accounts screen.

When prompted for a "Close To" account, be sure to use Unrestricted Net Assets/Equity/Fund Balance for it to work properly!

If the expense account associated with restricted funds closes to the unrestricted net assets, on the detail for that expense account should the "this account uses restricted money" check box be blank?

Thanks,
Carol Brown

No. You want to have this check box checked so that when the account is used the system will prompt you that you also need to release funds from the restriction.