Sub-Account Year End

[Kristi]

We are building a new sanctuary.

I created the fund: 16-New Sanctuary
Bank 16-1111-000
Income 16-4599-000

I use this number for all gifts and donations that are not pledges. This money is used to pay expenses related to the new sanctuary...vendors.

Then I created the sub-account:
Bank 16-1111-090
Income 16-4584-090

I use this number for all pledges. This money will be used to pay the bank loan. I also created liability numbers so when I write the check for the loan, it will post to the loan balance.
This way I can keep track of total pledges paid as they appear on the Balance Sheet separate account from our General Fund; at the request of our Finance committee.

It just dawned on me that at the end of the year my sub-account is going to roll into my Fund....then my pledges deposited will disappear from my Balance Sheet.

Is there an easy way to keep my figures on the Balance Sheet at the end of the year?

I would hate to have to create another Fund for the pledges, because I would have to create new Contrib. numbers and won't be able to pull up 3 years worth of info at a time. These are 3 year pledges that will be repeated at the end of the 3rd year.

I just thought...maybe I should create another Fund for the Gifts, since we are not tracking those like we are the pledges.
However, if I do that & I still keep the 16 New Sanctuary Fund for the pledges...the balance won't appear on the Balance Sheet.

The more I think, the more confused I get. Does anyone have a simple solution for me? I would greatly appreciate any help.
God bless you~Kristi

[Zoe]

Kristi,

Your bank sub-accounts (16-1111-000, 16-1111-090) will carry over balances from year to year. Only income and expense accounts are rolled into the Fund Balance at the close of the year. So, your balance sheet, which shows the balances for assets and liabilities will carry the balances over into the new year.

[Kristi]

THANK YOU!!!!
...for the great relief and answering so quickly!