User Support Forum

Being new to Powerchurch, when I went through the Accounting Setup, I set up our Restricted Fund Balances (Fund #3) in our General Fund (Fund #1). How do I now move those over to the Restricted Fund so that our Funds accurately reflect what is in the bank?

One example: We have a counselling fund. I set this up with the balance in the General Fund, but that is actually part of the Restricted Fund. I can't simply debit the GF Equity account and credit the RF equity account (I get the notice that the fund balances are equal, not a debit & credit in each fund).

Thank you for your help!

You can set up a transfer account in the 9000s.

Out of fund 01 would look like this:
CR 01-1110-000 checking
DB 01-9010-000 transfer to restricted

Into the restrict fund would look like this:
DB 03-1130-000 restricted checking
CR 03-9010-000 received from general

note: the two transfer account numbers don't have to be the same. If you make them the same, they will "zero-out" in a consolidated report. You then have to decide if you want them to "zero-out" or not in a consolidated report. (In this case, I probably would use the same account numbers as shown. Just my personal preference for cases like this).

To move money the other way, simply reverse all the debits and credits.