Transferred Amounts Appearing in Unrestricted Net Assets

[shmarecki]

I am relatively new to the Power Church Tool and have been unable to find the answers to my question in the training manual. Our church has three separate accounts: Operating, Restricted, and Capital. I have established Transfer Accounts for the funds as directed in the manual. However, when I transfer funds, the amounts appear on my Balance Sheet as Unrestricted Net Assets. How do I move the amounts from unrestricted net assets to a line item in the new account. Example: Finance Committee approves additional funds for Youth Group trip to be paid from Operating to offset part of the transportation expenses. I transfer the funds from Operating to Restricted, but now need to show that income on the Youth line of our Restricted account, not the unrestricted net assets line. Thanks for any help.

[NeilZ]

I am relatively new to the Power Church Tool and have been unable to find the answers to my question in the training manual. Our church has three separate accounts: Operating, Restricted, and Capital. I have established Transfer Accounts for the funds as directed in the manual. However, when I transfer funds, the amounts appear on my Balance Sheet as Unrestricted Net Assets. How do I move the amounts from unrestricted net assets to a line item in the new account. Example: Finance Committee approves additional funds for Youth Group trip to be paid from Operating to offset part of the transportation expenses. I transfer the funds from Operating to Restricted, but now need to show that income on the Youth line of our Restricted account, not the unrestricted net assets line. Thanks for any help.

Um .. that's the way the transfers work, you are transferring assets. That said, you should NOT be claiming this as income in another fund as these funds have already been declared as income in the operating fund. You should not be claiming income twice.

However, I suspect that how you're transferring the funds may be part of the issue. Could you show what your transfer transaction looks like?

[shmarecki]

02-1120 Restricted Restricted Youth Credit 100
02-9010 Transfer to Fund 1 To Operating Debit 100
01-1110 Operating Spring Break Proceeds Debit 100
01-9520 Transfer from Fund 2 Credit 100

Thank you for your help.

[NeilZ]

02-1120 Restricted Restricted Youth Credit 100
02-9010 Transfer to Fund 1 To Operating Debit 100
01-1110 Operating Spring Break Proceeds Debit 100
01-9520 Transfer from Fund 2 Credit 100

Thank you for your help.

C

Which way are you transferring funds here?

I see you moving from fund 02 to fund 01. I thought it was going from 01 to 02. ,

Also .. are you talking about two checking accounts? Savings?? Exactly where are the funds going?

If you are using one checking account, you should have a transaction like this:

01-1110-000 CREDIT 100.00 Checking
01-9010-000 DEBIT 100.00 Transfer out
02-9210-000 CREDIT 100.00 Transfer in
02-1110-000 DEBIT 100.00 Checking

02-3110-000 DEBIT 100.00 Unrestricted Net Assets
02-3210-000 CREDIT 100.00 Restricted Assets