User Support Forum

We've reassigned a ministry and we've got a set of temporarily restricted accounts that we've assigned to the new fund. Now I'm needing some advice on moving the assets.

I'm figuring that we should use transfer accounts to do this, so if someone could verify this set of transactions:

Accounts:
01-1110- Checking -
MS-1110- Both funds use the same checking account

01-3220 - Equity
MS-3220 -

01-4220 - Income
MS-4220 -

01-4820- Release Income
MS-4820-

01-4990- Release from Restriction
MS-4990-

SO:
The money was put in restriction last year, and the 01-3220 equity account shows the money there, but the 01-4220 does not show any balance. So I'm thinking all I need to do is this:

01-3220-000 CR 5000.00
01-9110-000 DB 5000.00
MS-9210-000 CR 5000.00
MS-3220-000 DB 5000.00

01-1110-000 CR 5000.00
01-9110-000 DB 5000.00
MS-9210-000 CR 5000.00
MS-1110-000 DB 5000.00

Yes ???

Well .. playing around with that on my test system ... doesn't appear to be right ...

OK .. HELP !!!!!!!

Not sure what proper accounting is on that, but adjusting directly against the equity accounts will serve the same purpose as using transfer accounts.

Zorak wrote:Not sure what proper accounting is on that, but adjusting directly against the equity accounts will serve the same purpose as using transfer accounts.

So .. just do a credit against 01-3220 and debit MS-3220 ???

What about any funds listed against checking in each fund ??

If you do it all in one transaction, it will balance out in both funds:

01-1110-000 CR 5000.00
01-3220-000 DB 5000.00
MS-1110-000 DB 5000.00
MS-3220-000 CR 5000.00

Zorak wrote:If you do it all in one transaction, it will balance out in both funds:

01-1110-000 CR 5000.00
01-3220-000 DB 5000.00
MS-1110-000 DB 5000.00
MS-3220-000 CR 5000.00

Beauty ... thanks ...