Move Account Button

[cthomas]

I have an account 01-1122 which is a money market checking account. The 01 Fund is our General Fund which handles operating expenses. I would like to set up a fund 05 to handle our Money Market Bank Account so can I use the Move Account Buttom to move the figures from 01-1122 to 05-1122 or should I do an entry to move the balance. My goal is to be able to run income stmts & balance sheets for the General Operating account without having the Money Market figures in them. But, I don't want to loose my history in the account.

[JohnDMeyers]

I don't think the Move Account button will let you move across funds. You wouldn't want to anyway.

Whatever transaction was used to put money into 01-1122, also touched another account. You would end up with a balance sheet out-of-balance at the bottom.

You probably either wrote a check to move money into the money market account, or you simply transferred it from one account to another at your bank.

Either way, the original transactions that led up to the transfer were likely to be these:
DB 01-checking
CR 01-general income

DB 01-money market
CR 01-checking

Notice that the 01-checking "cancels out" because it has both a DB and a CR.

Therefore, to track this in Fund 05, I would do this:
Set up 05-1122-000 and 05-4xxx-000 (an income account in Fund 05).

DB 01-general income $amt to transfer to Fund 05
CR 01-money market $amt to transfer to Fund 05

DB 05-1122-000 $amt to transfer to Fund 05
CR 05-4xxx-000 $amt to transfer to Fund 05

Note:
This reduces this year's income in Fund 01 by the amount that you want to show coming into Fund 05.

If the amount in the money market has accumulated over the years, then you can switch the first CR 01-money market to be:
CR 01-3110-000 (unrestricted net assets)