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by Frank McKee
Thu Mar 18, 2004 11:25 am
Forum: Accounting
Topic: Transfers between Funds-Account 4701
Replies: 1
Views: 2629

Transfers between Funds-Account 4701

If I transfer moneybetween Funds by writing a check on Fund 1 to deposit in a checking account on Fund 2, how do I make the Fund Totals on the Trial Balances for the individual funds zero out. Would I Debit 01-4701 and credit 02-4701 or would I do the opposite? And will 4701 close to 3000 at year en...