January 2013 bill paid in December 2012

[bumclakeview]

Our Treasurer paid a bill in December 2012 that included both an apportionments payment (for 2012) and staff health insurance and pension payments. However, he had already paid the insurance and pension portion for December 2012 so those amounts were credited to cover January 2013. Is there any way I can show that credit in our 2013 budget even though it was paid in 2012? Thanks!!

[JohnDMeyers]

The amount is in unrestricted net assets.

You can take it out of there and put it into an expense account for 2013. Since 5170 (the account in my example) closes to unrestricted net assets, the net result of this transaction is zero. You are simply placing an amount in an expense account for convenience of viewing it for the year 2013. When you close 2013, the "place holder" will evaporate away.

DB 01-5170-000 health insurance $100.00
CR 01-3110-000 unrestricted net assets $100.00

[bumclakeview]

Thank you!!