using the Transfer Funds option

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bjwhitson
Posts: 99
Joined: Wed Mar 19, 2008 2:19 pm
Location: Grayson, GA

using the Transfer Funds option

Post by bjwhitson »

I am using PC+ version 12 and have used PC+ for over 10 years. That said, I’ve never had more than one fund in the Chart of Accounts, but rely on Restricted Funds to keep funds restricted :D from General Operating Funds.

In my current situation, I have 2 separate checking accounts. 01-1110 is the General Operating account and 01-1120 is the Designated Funds account. This 2nd checking account contains funds for 15 restricted account, one of which is our preschool (or MMO). Because it is hard for the officers to focus on the income and expenses for the MMO program in the midst of the other 14 funds, I want to separate the MMO funds to Fund 02.

I need to transfer all restricted funds from the Designated checking account to the Operating account less the MMO funds. I know I can do that with the following transaction –
01-1110 General Operating 10,000.00 DR
01-1120 Designated Account 10,000.00 CR
Then, follow with a transfer on the bank’s website to get those funds in the proper checking account.
That will leave the $2,000 in the Designated Checking account – 01-1120. The Balance Sheet shows the correct balance in each checking account, but that’s where I get stuck.

I have these accounts set up in each of Fund 01 and Fund 02 –
  1. 1 Transfer Accounts 9000 Group
    2 Transfer to Other Funds 9001 Group
    5 Transfer to Other Funds 9010 Detail
    2 Transfer from Other Funds 9500 Group
    5 Transfer from Other Funds 9510 Detail
I’m not sure how to input the transactions to eliminate the $2,000 Checking Account from the Balance Sheet of Fund 01 along with the Temporarily Restricted balance under Net Assets and conversely to show the Balance Sheet for Fund 02 with the Checking balance of $2,000 and the Assets of same. I know in the Fund 02 accounting, I don’t really need to use the restricted accounting and release process as the entire structure is restricted to just MMO expenses.

I hope that I’ve explained this well enough. Thanks in advance for the excellent answers and solutions that I’m sure to receive.
BJW
Finance Committee-HPC
PC+ user since 2008
Grayson, GA

NeilZ
Posts: 10209
Joined: Wed Oct 08, 2003 1:20 am
Location: Dexter NM
Contact:

Re: using the Transfer Funds option

Post by NeilZ »

bjwhitson wrote:
I’m not sure how to input the transactions to eliminate the $2,000 Checking Account from the Balance Sheet of Fund 01 along with the Temporarily Restricted balance under Net Assets and conversely to show the Balance Sheet for Fund 02 with the Checking balance of $2,000 and the Assets of same. I know in the Fund 02 accounting, I don’t really need to use the restricted accounting and release process as the entire structure is restricted to just MMO expenses.
Basically what you want to do is actually laid out in the PCPlus manual (also in the F1 Help file).

On page 235, all you need is the SIMPLE Transfer Account setup. Just two accounts and they should be setup in each fund.
IE: 01-9100-000, 02-9100-000 Transfer To other funds
01-9200-000, 02-9200-000 Transfer from other funds

On the bottom of page 235, there is the EXACT transaction you will use, just change the 1100 to 1120 .
Neil Zampella

Using PC+ since 1999.

bjwhitson
Posts: 99
Joined: Wed Mar 19, 2008 2:19 pm
Location: Grayson, GA

Re: using the Transfer Funds option

Post by bjwhitson »

I did see that transaction on page 235 and tried it first. The balance sheet for fund 02 looks great with assets and liabilities equal. The balance sheet for fund 01 still shows the $2,000 in restricted funds. That's what I can't figure out how to clear
BJW
Finance Committee-HPC
PC+ user since 2008
Grayson, GA

NeilZ
Posts: 10209
Joined: Wed Oct 08, 2003 1:20 am
Location: Dexter NM
Contact:

Re: using the Transfer Funds option

Post by NeilZ »

bjwhitson wrote:I did see that transaction on page 235 and tried it first. The balance sheet for fund 02 looks great with assets and liabilities equal. The balance sheet for fund 01 still shows the $2,000 in restricted funds. That's what I can't figure out how to clear
You have to release the funds from the restricted account. All you did with the initial transfer was move funds that are under unrestricted net assets. Just go Funds Accounting -> Enter Transactions, then click on the Release Restricted Funds button. Select the temp restricted fund from the list, and enter 2000.00 in the box, with the explanation that basically says "moving funds to Accounting Fund 02". Then click OK, the system will enter the correct accounts, so just click DONE.

Post the transaction, it should balance everything out.
Neil Zampella

Using PC+ since 1999.

bjwhitson
Posts: 99
Joined: Wed Mar 19, 2008 2:19 pm
Location: Grayson, GA

Re: using the Transfer Funds option

Post by bjwhitson »

Hi Neil,
I wasn't sure if I had to release the funds in a separate transaction. Everything looks great!
Thanks as always!
BJW
BJW
Finance Committee-HPC
PC+ user since 2008
Grayson, GA

NeilZ
Posts: 10209
Joined: Wed Oct 08, 2003 1:20 am
Location: Dexter NM
Contact:

Re: using the Transfer Funds option

Post by NeilZ »

bjwhitson wrote:Hi Neil,
I wasn't sure if I had to release the funds in a separate transaction. Everything looks great!
Thanks as always!
BJW
Great to hear ..
Neil Zampella

Using PC+ since 1999.

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