Withdrawl from Mutual Fund endowment.

[NeilZ]

Here's one I can't figure out:

We've had to hit our endowment fund for some funds to cover a shortfall for the year so far. We do track this endowment in a separate accounting fund that utilized the same checking account as operating.

We also track the endowments increases/decreases through a unrealized gain(loss) account line item.

My questions are:

1. I need to show the withdrawl from the account. So do I take it from the original amount line item, or the unrealized gains(losses), I'm thinking the former.

EF-1330-000 Mutual Fund CR 5000.00
EF-1100-000 Checking DB 5000.00

Look right ?? Its not income here so I don't need to show it as such in the endowment fund as its money we've already collected.

2. Now to show it in the Operating Fund

Transfer to Operating

EF-1100-000 Checking CR 5000.000
EF-9110-000 Transfer to DB 5000.000

Now here's the part I'm really having problems with.

01-9210-000 Transfer From CR 5000.00

Now what? I know I need to show this in the 01 checking, but where else? What type of account do I need to use to show this money in Operating?

Thanks

[Jeff]

Is the money to be repaid to the endowment in the future? I only ask that because it sounded like you wanted to show it as something special in the operating fund.

If this money is not to be repaid, in the 01 fund you would just credit the transfer account and debit the checking account. This will move the money from the endowment part of the checking account to the operating part of the checking account.

[JohnDMeyers]

To answer #1, you would take the money out of EF-1330-000, which shows the money you have put in plus any "real" interest on the account.

[NeilZ]

Jeff - I really don't think that's going to happen, so I guess I won't need to show anything other than the transfer in.

John - perfect !!

Thanks both of you!!