User Support Forum

I have $1,300.00 showing on my (01) General Fund balance sheet 3251-101 account TEMPORARILY RESTRICTED 'YM Restricted Funds'.

I have written a check in the amount of $300.00 and applied it to an expense that was set up as part of the setup for creating the YM Temporarily Restricted Fund. However, when I transacted & posted it (in a test instance) the amount on the balance sheet was reduced by twice the amount of the released funds. I am not sure what I did incorrectly.

I suspect that you have both the 01-4851-101 and 01-6051-000 accounts closing into the 01-3251-101 fund balance account. To confirm, run the Account Close to Report in Fund Accounting. If this is the case, change the close to account on the 01-6051-000 account to the Unrestricted Net Assets account (01-3110-000) using Maintain Chart of Accounts.

P.S. Thank you for the print screen of the transaction! A picture is worth 1,000 words!

You are correct... in fact, I have three accounts closing to it.

The only account you need to correct the close to account on is 01-6051-000. The close to accounts on the other two accounts are ok.

Thank you so much Matt. I appreciate you're help with this. I may have been a very long time trying to figure this out on my own. We only have three of these donor restrictions and only transact against them once in a blue moon. This was a valuable lesson learned. I will be more conscious of my setups going forward.

I came across this post and realized I have the same problem. Is there any way to get the images in the post working again so I can see them?

Please confirm is this is correct:

The Expense Accounts (01-6051-000) should close to the Unrestricted Net Assets
AND
The Release Restriction Accounts (01-4851-101) and the Restricted Income Accts (4210) should close to the Restricted Net Asset Accounts (01-3251-101)

Correct?

Thank you for your help. Michelle

Yes, this is correct.