Expense acct. did not deduct from current balance.
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Expense acct. did not deduct from current balance.
Hi, I created an expense account in a fund (I have done this many times) but for some reason the amount recorded as an expense but didn't deduct it from the total balance. I went back and checked to see if I had entered something wrong but it looks the same as others that I have done. How can I fix this?
Re: Expense acct. did not deduct from current balance.
Please show the original transaction. As far as 'total balance' what balance are you talking about, the checking account?Patricia wrote:Hi, I created an expense account in a fund (I have done this many times) but for some reason the amount recorded as an expense but didn't deduct it from the total balance. I went back and checked to see if I had entered something wrong but it looks the same as others that I have done. How can I fix this?
Could use some additional information.
Neil Zampella
Using PC+ since 1999.
Using PC+ since 1999.
Re: Expense acct. did not deduct from current balance.
I created an expense acct. for our youth fund designated CAMP, It is listed as an expense when I print a report, and shows the amount of the check, but is not deducted from the youth fund balance. I have other expense acct in this fund and they have been deducted. At the same time I created an expense acct for Childrens Church, also designated Camp, and it worked fine. So I don't know why the Youth fund account is wrong, the balance shows them having, $2000.00 more in there acct than all the numbers add up to, the exact amount of the check that was written for the CAMP expense.
Re: Expense acct. did not deduct from current balance.
What is this 'Youth Fund' .. is it Temporarily Restricted Fund account under Operations, a separate Accounting Fund, or what?Patricia wrote:I created an expense acct. for our youth fund designated CAMP, It is listed as an expense when I print a report, and shows the amount of the check, but is not deducted from the youth fund balance. I have other expense acct in this fund and they have been deducted. At the same time I created an expense acct for Childrens Church, also designated Camp, and it worked fine. So I don't know why the Youth fund account is wrong, the balance shows them having, $2000.00 more in there acct than all the numbers add up to, the exact amount of the check that was written for the CAMP expense.
If this is a Temp Restricted Fund account under Operations, did you release the funds?
If this is a separate accounting fund, are you sure you added the new account under the Youth Accounting Fund?
Not knowing how your system is setup makes if very hard to be able to give you any assistance.
Neil Zampella
Using PC+ since 1999.
Using PC+ since 1999.
Re: Expense acct. did not deduct from current balance.
I didn't think it was a restricted fund acct. There is an amount in the unrestricted net assests, what does that mean???. (Sorry, this program confuses me sometimes, did not have proper training, just pluggin along the best I can).I believe this to be a separate accounting fund, and yes I checked to make sure I added it to the Youth Accounting Fund. It doesn't make sense to me as I did an identical acct. in the childrens fund and that worked fine.
Re: Expense acct. did not deduct from current balance.
The person who set up the program didn't know what "unrestricted net assets" means.
Re: Expense acct. did not deduct from current balance.
You're using the the term 'accounting fund' when I'm guessing you mean account.Patricia wrote:I didn't think it was a restricted fund acct. There is an amount in the unrestricted net assests, what does that mean???. (Sorry, this program confuses me sometimes, did not have proper training, just pluggin along the best I can).I believe this to be a separate accounting fund, and yes I checked to make sure I added it to the Youth Accounting Fund. It doesn't make sense to me as I did an identical acct. in the childrens fund and that worked fine.
Accounts are under Accounting Funds. The Youth Accounting Fund should have an identifier, such as the default for the Operations Fund which is 01-. All accounts under Operations begin with 01-, such as the checking account which is usually 01-1110-000.
Unrestricted Net Assets are all those funds that are not donor restricted.
It sounds like the Youth Fund is a separate accounting fund. So, I'll assume that the youth fund has an identifier of YF-, and the checking account is YF-1110-000. Your expense account should have a number like YF-5xxx-000 since the 5000+ -series of numbers is the expense account area.
You should have created an 'invoice' in the Accounts Payable module to write a check to cover these expenses. What did that transaction look like, please include the 2 digit or letter identifier with all account numbers.
Neil Zampella
Using PC+ since 1999.
Using PC+ since 1999.
Re: Expense acct. did not deduct from current balance.
The youth acct. identifier is 11-1110-000 for checking, and the expense I created is 11-5011-004
Ah, now I see what I did, I put 01-1110-000 (Gen fund) for the credit, and 11-5011-004 for debit. Is there a way to fix this?
Ah, now I see what I did, I put 01-1110-000 (Gen fund) for the credit, and 11-5011-004 for debit. Is there a way to fix this?
Re: Expense acct. did not deduct from current balance.
Thank you so much for your help. Got it now.
Re: Expense acct. did not deduct from current balance.
I take it that you VOIDed the existing check, and reissued with the corrected accounts?Patricia wrote:Thank you so much for your help. Got it now.
Neil Zampella
Using PC+ since 1999.
Using PC+ since 1999.