Opening Balance in new fund

[HeartlandACC]

Hello,

We've recently restructured our chart of accounts to reflect the increasing complexity in our organization, and I've run into a challenge that the training videos haven't been able to solve.

We're in a Capital Campaign right now, accumulating funds for the construction of a new church building. To December 31, this income has been recorded in our 01-General Fund, in a specified Capital Campaign Income line. As of January 1, we have set up a 20-Capital Fund to track all of our capital income and expense through the building project.

I understand that there is no way to move the account history from one fund to another (i.e., income that was tracked in 01-4120 cannot be moved to 20-4120), but I do need a way to move the total contribution history from the General to the Capital fund. In my view, the only way to do this is to set up an opening balance in Fund 20 that reflects the total value of contributions to that project up until Dec 31, 2015. We are tracking all income in Fund 20 from Jan 1, 2016 going forward and I'm looking for a way for my income/expense statements to reflect the cumulative total.

How do I set up an opening balance for this account under Fund 20? Or am I mistaken, and is there a way to move the history from 01-4120 to 20-4120?

Thanks for your help,
Laura

[NeilZ]

Hello,

We've recently restructured our chart of accounts to reflect the increasing complexity in our organization, and I've run into a challenge that the training videos haven't been able to solve.

We're in a Capital Campaign right now, accumulating funds for the construction of a new church building. To December 31, this income has been recorded in our 01-General Fund, in a specified Capital Campaign Income line. As of January 1, we have set up a 20-Capital Fund to track all of our capital income and expense through the building project.

I understand that there is no way to move the account history from one fund to another (i.e., income that was tracked in 01-4120 cannot be moved to 20-4120), but I do need a way to move the total contribution history from the General to the Capital fund. In my view, the only way to do this is to set up an opening balance in Fund 20 that reflects the total value of contributions to that project up until Dec 31, 2015. We are tracking all income in Fund 20 from Jan 1, 2016 going forward and I'm looking for a way for my income/expense statements to reflect the cumulative total.

How do I set up an opening balance for this account under Fund 20? Or am I mistaken, and is there a way to move the history from 01-4120 to 20-4120?

Thanks for your help,
Laura

You should NOT setup an opening balance as you will be transferring funds from 01 to 20, that transfer will be your opening balance. You will need to use the transfer accounts to move the funds. You should do this as of Jan 1st so the 2015 year-end Inc/Exp reflects the capital fund income to the end of the year. The transfer transaction should include a full explanation of the transfer in the note block of the transaction.

Not really sure what you mean by contribution history, as what is tracked in funds accounting is income from all sources. However, you can keep the history in the Contributions Module, as all you need to do there is change the income account on the Contribution Fund setup from the 01 account to the 20 account. That preserves the contribution history for the contributions statements.