Applying a transfer of funds to an expense account
Posted: Tue Jun 28, 2011 5:51 pm
Having a little brain freeze here:
We have our funds broken into 3 separate bank accounts (I know, different than many Powerchurch users
). I transferred funds from 1 bank account to our General Fund bank account. I've recorded the transfer of cash as follows:
DR 1110 (G/F Cash Account)
CR 9500 (Transfer from Restricted A/C)
DR 9500 (Transfer)
CR 1802 (R/F Cash Account)
How do I now apply those funds against the expense we are wanting to use it for? I know the credit would be the expense account, but what is the debit?
Thank you,
We have our funds broken into 3 separate bank accounts (I know, different than many Powerchurch users
). I transferred funds from 1 bank account to our General Fund bank account. I've recorded the transfer of cash as follows:DR 1110 (G/F Cash Account)
CR 9500 (Transfer from Restricted A/C)
DR 9500 (Transfer)
CR 1802 (R/F Cash Account)
How do I now apply those funds against the expense we are wanting to use it for? I know the credit would be the expense account, but what is the debit?
Thank you,