adding new checking account / beginning balance

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stjamespewee
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Joined: Thu Apr 25, 2013 11:38 am
Location: Pewee Valley KY
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adding new checking account / beginning balance

Post by stjamespewee »

Have been established with PChurch for 5 years. We are adding another checking account to our main fund/system. I can't enter a beginning balance for the account. I don't want to restart the accounting assistant to have to do this. Why can't I click in the beginning balance box to add an ASSET? I am Admin. I want to have 2 checking accounts in our Assets. One is established as General Fund. The new one will be Cemetery Checking.
Why can't I set it up with a beginning balance? Or what am I doing wrong in Maintain Chart of Accounts??

Zorak
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Re: adding new checking account / beginning balance

Post by Zorak »

Enter a transaction in Accounting > Fund Accounting > Enter Transactions to add the balance to the account.

If the money that opened the new account was transferred from the old account, or a check written, you can enter a transaction like this:

01-1110-000 Old Checking (Credit) $500.00
01-1120-000 New Checking (Debit) $500.00

stjamespewee
Posts: 3
Joined: Thu Apr 25, 2013 11:38 am
Location: Pewee Valley KY
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Re: adding new checking account / beginning balance

Post by stjamespewee »

It is not affecting the current checking account. It it is start up money. Brand new stand alone account being created and not transferred money.

Zorak
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Joined: Thu May 13, 2004 9:59 am
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Re: adding new checking account / beginning balance

Post by Zorak »

Replace the checking account with the unrestricted equity (AKA net assets, fund balance) 3110.

01-1120-000 New Checking (Debit) $500
01-3110-000 Unrestricted Equity (Credit) $500

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