Transfer of Endowments to new Fund

[NeilZ]

OK .. here's the situation.

When my wife, the pastor, sat down with the treasurer to setup the Powerchurch accounting in v11, they put the endowment trust and savings accounts under Funds Account 01.

The problem is that there is no series of transactions giving an 'audit trail' that withdrawals have been made from these accounts and moved into checking. The treasurer and the pastor would like to show this happening when this occurs in order to show the congregation that our endowments are being used up to support day to day operations.

They want to create a new funds account to hold these endowments, and then transfer from this account to the 01 account which would hold the operations funds (and the checking account).

Would this work to satisfy this 'audit trail' they would like, and if so, what transactions would it take to move the balances.

If it wouldn't work to show this, how would you create such an 'audit trail' that would show in reports.

Thanks in advance.

[NeilZ]

Anyone have any advice on this ??

Thanks ...

[Jeff]

I would think about moving the endowment account to another fund. Then when they need to transfer the money, it would show the amount being transferred in. The I&E report would show another section below expenses that would show transfers.

What I have seen others doing that seems to work well is fund 01 is reserved for operating money only. They then move all other "non-operating amounts" into other funds. The board can then look at just the operating fund without the clutter of other amounts.

Example
01 - Operating
02 - Designated (Holds money received for a specific purpose)
03 - Endowment

[NeilZ]

Thanks Jeff, just the answer I need.