Transferring between funds

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NNBCdmh
Posts: 8
Joined: Wed Mar 13, 2019 10:34 am

Transferring between funds

Post by NNBCdmh »

We began using PCP12 in January. I had previously used an older version and only had one fund. The person who set up the program broke things down into six different funds which I didn't realize until May. I've been posting Int/Div to the accounts that are in fund 02-06 as tho they were in fund 01.

I posted:
02-9510 trans from 01 - credit 3,884.57
02-9015 trans to 02 - debit 3,884.57
and repeated for the other funds. This did not change my balance in the individual funds.

Can you tell me what I'm doing wrong?

NeilZ
Posts: 10209
Joined: Wed Oct 08, 2003 1:20 am
Location: Dexter NM
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Re: Transferring between funds

Post by NeilZ »

NNBCdmh wrote:We began using PCP12 in January. I had previously used an older version and only had one fund. The person who set up the program broke things down into six different funds which I didn't realize until May. I've been posting Int/Div to the accounts that are in fund 02-06 as tho they were in fund 01.

I posted:
02-9510 trans from 01 - credit 3,884.57
02-9015 trans to 02 - debit 3,884.57
and repeated for the other funds. This did not change my balance in the individual funds.

Can you tell me what I'm doing wrong?
That's only part of the transaction, where are you putting these funds? Is this actually income (as in receiving a check) or is this unrealized gains on a mutual fund?


As far as the transaction to transfer between funds, it should look something like this:

In the following example, $750 is transferred from the 01 fund checking account into the 02 fund checking account using the simple transfer setup.

01-1110-000 Checking Account 750.00 CR
01-9100-000 Transfer to Other Funds 750.00 DB
02-1110-000 Checking Account 750.00 DB
02-9200-000 Transfer from Other Funds 750.00 CR

If these are unrealized gains, they need to be tracked much differently.
Neil Zampella

Using PC+ since 1999.

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