A question for setting up restricted accounts

[stlukes]

I'm in the process of setting up some temporary restricted accounts and I'm not clear on the release account. Do I need one release account or one for each restricted account that I set up?

Thanks for the help!

Brenda
St. Luke's

[Randy B]

I am not sure I understand your question but the answer would depend upon how you set up the temporary restricted accounts and what you mean by a release account. Usually accountants set up a fund to show compliance or restriction of funds. Since these are temporary which indicates money will be received and disbursed in the same fiscal year, I would recommend you credit a revenue for funds coming in and an expense account for when the funds are disbursed. You could set these up in your general fund or another restricted fund.

[Jeff]

Randy and Brenda

Release accounts are a new concept in version 9. If you are converting from a prior version of pcplus, the features regarding them are turned off until you set them up. There is a paper called Accounting for Contributions on your version 9 cd that goes into the method in quite a bit of detail. We are working on getting the paper up on the website as well.

You do need a release account for each restricted area that you setup. The Maintain Donor Restrictions screen will walk you through setting up the restriction and add the release account for you. Just go to Accounting -> Fund Accounting -> Maintain Donor Restrictions, click add and an assistant will walk you through creating the donor restriction.

[Zaphod]

There is a paper called Accounting for Contributions on your version 9 cd

Specifically, when you insert the v9 CD, and the launcher comes up, select "Support and Other Resources" -> "Accounting for Contributions."

It's a PDF document, so you'll need to have Adobe Acrobat Reader installed.