User Support Forum

I just used a computer generated check to pay a bill from a temporarily restricted fund. The check was for $500.00 but it reduced the amount on my balance sheet by $1,000.00. I posted the transaction before I saw the problem. Can anyone help me figure out what I did wrong and how to correct it?

I am using version 11.5.

Here are the funds I used:

01-1110-000 Wells Fargo Checking $500.00 (credit)
01-4830-101 Special Projects Fund Release restricted amount $500.00 (debit)
01-4999-000 Released from restriction Release restricted amount $500.00 (credit)
016410-000 Special Projects $500.00 (debit)

Thanks,
Susan

Check to see which accounts each income and expense "closes to". I'll assume your restricted equity is 3380-000.

It should be as follows:
01-4830 closes to 3380-000
01-4999 closes to 3110-000
01-6410 closes to 3110-000

I'm guessing your expense account "closes to" 3380-000 instead of 3110-000, but please check it out.

Also, when you say your "balanace sheet" dropped by $1,000, did you mean your checking account? or something else?

John,
To answer your question, it was the Net Assets that had dropped by $1,000 instead of just the $500.

You were right in your assessment of what I did wrong. I changed the "closes to" account to the correct account number and it fixed the problem.

I am amazed at how astutely your brain works. Thank you so very much - and I am so sorry for taking so long to get back to this problem, testing it, and then thanking you.

Susan