Restricting unrestricted assets #2

[jensenec]

PCPlus 11.5 on Windows 10

My church had a surplus of income to expenses last year in general giving. We have decided to maintain these extra funds as restricted for future missions work as needed. I am at a loss on how to convert these funds to a restricted status without showing the transition as income or expense. It is desirable to maintain an account that can be tracked for future accounting and reporting. Any suggestions?

Eric

[NeilZ]

PCPlus 11.5 on Windows 10

My church had a surplus of income to expenses last year in general giving. We have decided to maintain these extra funds as restricted for future missions work as needed. I am at a loss on how to convert these funds to a restricted status without showing the transition as income or expense. It is desirable to maintain an account that can be tracked for future accounting and reporting. Any suggestions?

Eric

Check this thread:

https://www.powerchurch.com/forum/viewt ... 61&p=27054

[jensenec]

If I understand this correctly, all I need to do is debit the General Fund equity account and credit the Restricted equity account. Simple - no muss, no fuss.

Eric

[NeilZ]

If I understand this correctly, all I need to do is debit the General Fund equity account and credit the Restricted equity account. Simple - no muss, no fuss.

Eric

Yup ..