Adjusting Balance sheet balances

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willsell
Posts: 32
Joined: Sat Oct 30, 2010 2:48 pm

Adjusting Balance sheet balances

Post by willsell »

We have several funds under temporary restricted.
In the attached Youth Ministry is setup with a release so adjusting that balance is easy.
The Elevator Fund was not setup with a release. What accounts should I use to adjust the balance?

Temporarily Restricted
Youth Ministry 3201-001
Elevator Fund 3201-003

NeilZ
Posts: 9574
Joined: Wed Oct 08, 2003 1:20 am
Location: Monett MO
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Re: Adjusting Balance sheet balances

Post by NeilZ »

willsell wrote:
Mon Oct 25, 2021 10:08 pm
We have several funds under temporary restricted.
In the attached Youth Ministry is setup with a release so adjusting that balance is easy.
The Elevator Fund was not setup with a release. What accounts should I use to adjust the balance?

Temporarily Restricted
Youth Ministry 3201-001
Elevator Fund 3201-003
Release accounts are used when temporarily restricted funds are released from a Donor Restricted account. If the 'fund' does not appear when you click on the Release Restricted Funds button when entering a bill, you should add the proper accounts, and have the fund listed by adding it using the Accounting -> Fund Accouting -> Setup -> Maintain List of Donor Restrictions. By clicking on ADD there you can properly add the Restriction and use the existing Fund Balance account, and create the release. However, I would NOT have used a 'subaccount' as the Fund Balance (Net Asset) account, I would have created a new account 3210 ?? instead.

Not knowing how you originally move funds to those accounts make it harder to give any further advice.
Neil Zampella

Using PC+ since 1999.

willsell
Posts: 32
Joined: Sat Oct 30, 2010 2:48 pm

Re: Adjusting Balance sheet balances

Post by willsell »

You are correct . The missing funds were not setup via the list donor function.

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