new fund, one checking account

[stpaulser]

I currently have 3 funds set up, but they each have their own checking accounts. I now want to separate one of those funds into income and expense reports for general expenses and building expenses, within the same checking account. Can one checking account be designated in two funds? And how does bank reconciliation work? I saw this question asked elswhere but no answer to it.

Thanks for any advice,

[JohnDMeyers]

It's a little tricky trying to tell what you are doing, and what you want to do.

I think you are saying this:

You have three funds, Fund 01, Fund 02, and Fund 03. Each with their own checking account.

So Fund 01 checking is something like 01-1110-000
Fund 02 checking is something like 02-1120-000
and Fund 03 checking is something like 03-1130-000

You want to combine? two funds into one checking account?

If this is correct, you could "combine" Fund 02 and Fund 03 by changing the account number on 03-1130-000 to 03-1120-301, for example.

When you go to reconcile 1120, it will bring up all the checks and deposits from Fund 02 and Fund 03 together.

[stpaulser]

Sorry I didn't explain very well. What I meant was, I want to separate Fund 01 into two funds, but use one checking account for both. It is easy to set up when each fund has its own checking account, but i'm not sure how things relate when two funds use one checking.

[NeilZ]

Sorry I didn't explain very well. What I meant was, I want to separate Fund 01 into two funds, but use one checking account for both. It is easy to set up when each fund has its own checking account, but i'm not sure how things relate when two funds use one checking.

Very easy to do.

If you currently have 01-1110-000 setup in the Primary Fund, set up Accounting Fund 02 and call the checking account 02-1110-000.