sub account ?

[tbcbrown]

If a checking subaccount is created for a temporary restricted item so the amount is kept separate from the checking account, do I then have to do a another entry to deposit it to the actual checking account in order to reconcile. If so, since this takes the money from the sub account into the regular bank account and can no longer be distinguished in the sub account, what advantage is there to create the sub account. Wanted to be able to see how much was in the sub account at all times? What am I missing?

[NeilZ]

If a checking subaccount is created for a temporary restricted item so the amount is kept separate from the checking account, do I then have to do a another entry to deposit it to the actual checking account in order to reconcile. If so, since this takes the money from the sub account into the regular bank account and can no longer be distinguished in the sub account, what advantage is there to create the sub account. Wanted to be able to see how much was in the sub account at all times? What am I missing?

I'm guessing that you have something like this:

01-1110-100 as the subaccount?

There really was no need to create a subaccount for the checking account. If you created a temporarily restricted account using the "Maintain List of Donor Restrictions", you would have been walked through the steps of creating the accounts needed.

This would be a 3000 level fund balance account, a 4000 level income account, a 4000 level release account, and an expense account if needed. This is all you need. When you do a deposit of such, you would debit the checking and credit the income account you just created.

When you spend the money, you would credit the checking, debit the expense, then do a RELEASE of Restricted Funds by using the button on the Create Invoices or Enter Transaction dialog.

Does this help ?

[tbcbrown]

That's how I have it set up. I was trying to follow a really old post (2003) by Matt, authorized Teaching Consultant which showed setting up a sub checking account. The two balances, one for the general fund checking and the other for the sub account, then showed on the balance sheet. Guess I'll proceed with income and expense sub accounts and print the sub account report . Do I assign the sub number to the equity and release account also.

One more clarification - on the chart of accounts the block that says "this is a release account", is this only referring to the actual release account or all the others accounts associated with the release account also.

[NeilZ]

That's how I have it set up. I was trying to follow a really old post (2003) by Matt, authorized Teaching Consultant which showed setting up a sub checking account. The two balances, one for the general fund checking and the other for the sub account, then showed on the balance sheet. Guess I'll proceed with income and expense sub accounts and print the sub account report . Do I assign the sub number to the equity and release account also.

One more clarification - on the chart of accounts the block that says "this is a release account", is this only referring to the actual release account or all the others accounts associated with the release account also.

You shouldn't need to have any subaccount numbers on the equity or release account. As far as the block on the CoA, I believe it should only be assigned to actual release accounts.

[tbcbrown]

thanks once again