Search found 4 matches

by philwells1
Fri Jul 31, 2020 12:55 pm
Forum: Accounting
Topic: How do I adjust investment account loss or gain
Replies: 6
Views: 102

Re: How do I adjust investment account loss or gain

Well, I guess I am totally confused by the new account EF-3115-000. If our funds are at the Diocese and if the balance of the account increases, I still don't see why you need a separate account to show this. If we drew out the funds from the Diocese (they are ours), then we would have the increased...
by philwells1
Thu Jul 30, 2020 5:58 pm
Forum: Accounting
Topic: How do I adjust investment account loss or gain
Replies: 6
Views: 102

Re: How do I adjust investment account loss or gain

Neil, Thanks for the ideas. I'm new at this and not an accountant. I wonder why you wouldn't use the Mutual Fund account EF-1330-000 and use it with the EF-1335-000 for both a gain or a loss. I don't understand the use of the EF-3115-000 Fund Balance/Net Assets. EF-1330-000 Debit $1000 EF-1335-000 C...
by philwells1
Mon Jul 27, 2020 10:41 am
Forum: Accounting
Topic: How do I adjust investment account loss or gain
Replies: 6
Views: 102

How do I adjust investment account loss or gain

Our church has an investment account which is a fund account in our Power Church program. We receive quarterly statements for the account. It is handled by the Diocese and as all investment accounts it fluctuates up or down according to the market. I am at a loss as to how to adjust the quarterly ba...