Fund Balance Question

pfericksonosl · Post by **pfericksonosl** » Thu Jun 12, 2008 2:54 pm

Our fixed assets (building and equipment) are listed in our Building Fund. And yet they "close to" the General Fund. I cannot figure out how to change this.

So, we would like to move them away from the Building Fund and into the General Fund, as that where it seems fixed assets should be anyway. We want the fixed assets to close to the same fund in which they exist. How do we do that? We tried accomplishing this by doing a transfer from building to general, but then the fund balances (account 3001) of both the general and building funds were thrown way off.

Any help would be greatly appreciated.

Post by **Jeff** » Thu Jun 12, 2008 6:00 pm

Can you be more specific? Asset accounts don't close anywhere. Only Income, Expense and Transfer accounts close to equity accounts. Which screen are you on that you are seeing fixed assets in one fund closing to an equity account in another fund?

pfericksonosl · Post by **pfericksonosl** » Thu Jun 12, 2008 6:18 pm

Thank you for response.

When I run a report showing "Balance Sheet by Fund" I see that the Fund Balance (3001) for the General Fund (01) includes the Fixed Assets from the Building Fund (03).

On that report the Total Assets for 01 is $20,000. The Total Assets for 03 is $600,000. A few lines down the Fund Balance of the 01 is $600,000ish, and the Fund Balance for the 03 is nearly $0 (which is the actual dollar amount we do have in funds given to the Building Fund).

It seems logical to me that the $600,000 should show up in the 03 Fund Balance rather than the 01.

It also seems logical to me that we should have our Building and Equipment Assets under 01 rather than 03.

As it is now, the Balance Sheet by Fund gives an inaccurate report of what is actually in 01 and 03.

pfericksonosl · Post by **pfericksonosl** » Thu Jun 12, 2008 6:24 pm

I forgot to include our info. We are running PC version 10 on XP. Sorry.

pfericksonosl · Post by **pfericksonosl** » Fri Jun 27, 2008 4:42 pm

I continue to be curious about this question, and concerned that our Power Church Plus set-up is messed up. Any of your thoughts or answers would be much appreciated. Thank you.

Post by **Zorak** » Mon Jun 30, 2008 11:02 am

On the Balance Sheet By Fund report, are each of the funds "in balance"?

For each fund, does the Total Assets amount match the Total Liabilities & Equity amount, or is it off by the $600,000?

If the fixed asset is reflected in the 03 fund, but is showing in the equity section of the 01 fund, and each fund is out of balance because of it, the fix would be the following:

- Accounting > Fund Accounting > Enter Transactions
- 01-3110-000 equity (debit) $600,000
- 03-3110-000 equity (credit) $600,000

You will receive a warning that this transaction is not in balance across funds, this is OK in this instance.

Once the transaction is saved, make an Accounting Files backup (to use as an Undo Button if this transaction does not work the way you want it to). Go to Utilities > Backup & Restore > Backup Files > Accounting Files.

Once the backup is complete, go to Accounting > Fund Accounting > Post Transactions.

Run a new Balance Sheet By Fund report and see if this has resolved the issue. If it has not, simply restore the backup that you made and post more details here as to what effect that transaction had and we will go from there.