Zeroing Out Old Accounts

Fund Accounting, Accounts Payable, Accounts Receivable, Payroll

Zeroing Out Old Accounts

Postby greenvillecob » Wed May 15, 2019 11:18 am

Can anyone help me with a historical problem!

More than 10 years ago, amounts were entered into some sub accounts for Bequests. According to both the previous book keeper and adm assistant, those are not actual funds (real dollars) and should be zeroed out -- but they never knew how to do it. There doesn't seem to be any evidence of a transfer along the way, just the initial entry for funds. :wall: :wall:

Any suggestions on how to zero these out without impacting another account as a positive? I have added a note on each account and they are inactive, but still show up on reports. (Better than the penciled in note on an old version of the Chart of Accounts...)

GIGO people!
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Re: Zeroing Out Old Accounts

Postby NeilZ » Thu May 16, 2019 1:04 pm

greenvillecob wrote:Can anyone help me with a historical problem!

More than 10 years ago, amounts were entered into some sub accounts for Bequests. According to both the previous book keeper and adm assistant, those are not actual funds (real dollars) and should be zeroed out -- but they never knew how to do it. There doesn't seem to be any evidence of a transfer along the way, just the initial entry for funds. :wall: :wall:

Any suggestions on how to zero these out without impacting another account as a positive? I have added a note on each account and they are inactive, but still show up on reports. (Better than the penciled in note on an old version of the Chart of Accounts...)

GIGO people!


My advice is do a search in the Powerchurch help for OOB (out of balance) transactions. This will help, but I'd make sure these accounts do not close to any of the net assets accounts in any way. I cannot understand how an entry could be made if these were not real funds. You also have the option to 'delete old data' which can be used to clear out such old entries. The IRS required 4 or 5 years of records, so you can clear out entries from 2014 or older.

You should do a full backup of the accounting database, and store that offsite in case you need to access those old records in future.

Neil Zampella

Using PC+ since 1999.
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Re: Zeroing Out Old Accounts

Postby greenvillecob » Tue May 21, 2019 9:41 am

Thanks! I will check those out. I have only been here since last year so I don't understand it, either. Lots of hands who don't understand how things work, I think.
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