User Support Forum

I have a contribution from November 2018 that was posted in the wrong fund. I reversed the contribution and input the correct fund. Why doesn't the income and expense report show this?

It's all good, I figured it out

neac wrote:It's all good, I figured it out

Forgot to post it, right ?

yea.

But now, I have another issue to deal with.
We have a designated fund where we have been receiving contributions. Someone asked me how much money had been received to date for that fund, so I went to look in the income and expense report. The amount doesn't show up (because the amount is zero) in this report. However, running an account activity report shows contributions going into the fund.
Perhaps the fund was set up incorrectly?

neac wrote:yea.

But now, I have another issue to deal with.
We have a designated fund where we have been receiving contributions. Someone asked me how much money had been received to date for that fund, so I went to look in the income and expense report. The amount doesn't show up (because the amount is zero) in this report. However, running an account activity report shows contributions going into the fund.
Perhaps the fund was set up incorrectly?

OK ... it is possible, but you do remember that unless it is a restricted fund, with its own fund balance/net assets account, you will not be able to track it across fiscal years. If its setup as unrestricted, it all goes to the unrestricted fund balance/net assets account (usually 3110-000).

If it has a temporary donor restriction setup using that function under Fund Accounting, you will see the amount given, and not released for use, in the fund balance. The Balance Sheet and Cash Management reports will reflect that, however the I & E report will only report on the time frame listed in the date(s) option set in the report options. Crossing fiscal years can be confusing in the I&E report, which is why the Cash Management report is an up-to-date way of seeing what is in the restricted funds.

Should have said "year to date", and this is a new fund set up for use this year.

neac wrote:Should have said "year to date", and this is a new fund set up for use this year.

In that case, you can use the Cash Management or Balance Sheet to get the total.

I understand, but this amount shouldn't be going into the unrestricted fund balance and needs to show up in the income and expense report as it's own line item.

How do I check if it's unrestricted and going into the unrestricted fund balance?
If it is, how do I adjust it so that it's restricted?

neac wrote:I understand, but this amount shouldn't be going into the unrestricted fund balance and needs to show up in the income and expense report as it's own line item.

How do I check if it's unrestricted and going into the unrestricted fund balance?
If it is, how do I adjust it so that it's restricted?

You said it was a 'designated' fund, but now you said it's unrestricted. You can't have it both ways. If it is donor restricted, it should have its own income and fund balance/net assets account.

If its only a designated CONTRIBUTION fund, then you need to check the setup for that Contribution Fund under Contributions to see what is the income account being used. If its setup to use an income account that closes to the 3110-000, Unrestricted Net Assets account, then you are correct, its unrestricted.

Not knowing how you have your COA or Contributions setup, that's the best I can do.

So, this is what I found.
Restricted fund balance: 02-3215-215
Income account: 02-4215-215
Expense account: 02-6215-215
Income and expense accounts close to the fund balance.

On the contribution side, the income account it was using was the fund balance. I have switched it to the actual income account. I'm still not getting any of the contributions in an income and expense report. Will it only show up from this point forward, or should it be retroactive?

neac wrote:So, this is what I found.
Restricted fund balance: 02-3215-215
Income account: 02-4215-215
Expense account: 02-6215-215
Income and expense accounts close to the fund balance.

On the contribution side, the income account it was using was the fund balance. I have switched it to the actual income account. I'm still not getting any of the contributions in an income and expense report. Will it only show up from this point forward, or should it be retroactive?

It will only show from the point you changed it.

Now, run a Balance Sheet to check to see if the Fund Balance/Net Assets show up under the Net Assets portion of the Balance Sheet. Let me know what you find.

yes, it shows in the net assets portion of the balance sheet.

now, what reports do I have to run at the end of the year that will show the total cumulative income and total cumulative expenses?

neac wrote:yes, it shows in the net assets portion of the balance sheet.

now, what reports do I have to run at the end of the year that will show the total cumulative income and total cumulative expenses?

Since you're switching it over now its hard to say. Since this is a separate accounting fund, the Accounting Fund Balance report would help.