transferring funds from an investment account into checking

[bjwhitson]

PC+ user or 15+ years
Version 14.4

We have an investment account that predates my usage of PC+. When we set up PC+ in 2018, the funds were input at the face value of the account. Up until this month, I have not needed to transfer any funds between the investment account and the checking account (which contains both General funds and restricted funds). I do not have these set up with separate funds - everything is in Fund 01.

All that being said, I'm trying to figure out how to transfer $5000 from the investment account to a restricted checking account. I suspect that it should not show as income on the Inc & Exp report, but I will have an expense against that restricted fund after the $$ are transferred.

My first thought was to do this-
01-1115-000-Designated Funds $5000.00 DR
01-1310-000-Wells Fargo Sec $5000.00 CR

But I think this is incomplete. I don't see the corresponding increase in the Equity account for the specific restricted fund. The DR into account 01-1115-000 increased the checking account portion on the Balance Sheet but not the Temporarily Restricted account account associated with Net Assets.

The way I know that this didn't work is that the balance in the Restricted Checking (01-1115-000) account is $5000 more that the Temporarily Restricted balance. (01-3205-100).

Any advice will be most helpful.
BJ Whitson

[NeilZ]

PC+ user or 15+ years
Version 14.4

We have an investment account that predates my usage of PC+. When we set up PC+ in 2018, the funds were input at the face value of the account. Up until this month, I have not needed to transfer any funds between the investment account and the checking account (which contains both General funds and restricted funds). I do not have these set up with separate funds - everything is in Fund 01.

All that being said, I'm trying to figure out how to transfer $5000 from the investment account to a restricted checking account. I suspect that it should not show as income on the Inc & Exp report, but I will have an expense against that restricted fund after the $$ are transferred.

My first thought was to do this-
01-1115-000-Designated Funds $5000.00 DR
01-1310-000-Wells Fargo Sec $5000.00 CR

But I think this is incomplete. I don't see the corresponding increase in the Equity account for the specific restricted fund. The DR into account 01-1115-000 increased the checking account portion on the Balance Sheet but not the Temporarily Restricted account account associated with Net Assets.

The way I know that this didn't work is that the balance in the Restricted Checking (01-1115-000) account is $5000 more that the Temporarily Restricted balance. (01-3205-100).

Any advice will be most helpful.
BJ Whitson

OK ... are you certain that 01-1115-000 closes to 01-3205-100 ?? That -100 can cause issues unless its definitely listed.

[bjwhitson]

there is no "Close to" account for the checking account. should there be?

[NeilZ]

there is no "Close to" account for the checking account. should there be?

Hmmm ... thinking more about it, a checking account should not be setup as a 'Restricted' asset. You release temp restricted funds to a checking account, which become unrestricted.

What I believe is happening is that the setup is wrong. While there are funds in the 'restricted' checking, you have to release funds from a temp restricted account to move funds out of the restricted fund balance.

I'm thinking the investment was setup as unrestricted, so you're not going to see a change in the net assets unless you move the funds between the fund balance accounts. Also, the investment should have has some unrealized gains and losses over the years, they should have been shown in the investment asset, and then reflected in the temp restricted investment net asset.