Carrying account balances across fiscal years
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Carrying account balances across fiscal years
We have several accounts, which are budgeted each year, but which should not close to $0 at the end of the fiscal year. For example, our minister's salary package includes $1000 for continuing education. If he only spent $700 in 2004, then the remaining $300 should be carried over and added to the 2005 budget of $1000, meaning that in January 2005 the balance on that account should be $1300. How can we set up these accounts to reflect that carry-over? Thanks in advance for any assistance.