Duplicate Numbers on Chart of Accounts for "Fund Balance"

[Chelsea]

We have Windows 98 and have been using Power Church 8.5. I am trying to fix my chart of accounts for 11.5 that we recently purchased. I have 4 funds and used duplicate numbers when setting up 8 in the beginning. It has been a major headache. How can I change the 3001 'Fund Balance' to new numbers . Will everything still work if assign 3003, 3004, 3005 etc for "fund balance" in some of the funds.

[Matt]

Go to Fund Accounting, Setup, then Accounting Setup. Click on the Fund Accounting tab. What is the default equity account that is shown? I have a feeling that it is 3001-000. If so, to change it you will first need to set up the new default fund balance account in the chart of accounts. Then, you can change the default in the Accounting Setup. Then, you'll need to do one-time adjustments in Fund Accounting to transfer the balances in the 3001-000 account for each fund to the new default account. Then finally, I believe that you will need to change the close to accounts on your income and expense accounts to the new default account, as I have a feeling they are currently set up to close into the 3001-000 account for each accounting fund. This can be verified by running the Account Close To Report in Fund Accounting.

Since you converted to 11.5 from version 8.5 you may want to consider doing a restart of Accounting so that you can wipe the slate clean and have a fresh start to set up your Chart of Accounts. This may be easier than trying to fix your existing Chart of Accounts.

[Chelsea]

Thanks Matt, but since I can only list one preference in "accounting setup" , how can I have different "fund balance" numbers for each fund that I have set up?

[Matt]

Finish the Accounting Setup Assistant. Once you have finished you can manually add the accounts using Maintain Chart of Accounts.