Investment account and restricted funds
Posted: Mon Oct 19, 2020 10:18 pm
We have an investment account , 01-1310-000, that we are transferring $10,000 out of and to the Checking account for general fund and restricted fund purposes.
The initial transaction I set up was -
CR 01-1310-000 $10000.00 Investment account
DR 01-1110-000 $ 8650.00 Operating Funds
DR 01-1115-00 $1350.00 Designated Funds
This transaction simply moves the money into the checking account
But here's my question - How do I get the $1350 to show up in the Temporarily Restricted Fund account so that I can write checks against it later. It needs show up in the Fund balance and I'm not sure how to get it there.
I know that this isn't income but how do I increase the balance of the restricted account?
BJ Whitson
The initial transaction I set up was -
CR 01-1310-000 $10000.00 Investment account
DR 01-1110-000 $ 8650.00 Operating Funds
DR 01-1115-00 $1350.00 Designated Funds
This transaction simply moves the money into the checking account
But here's my question - How do I get the $1350 to show up in the Temporarily Restricted Fund account so that I can write checks against it later. It needs show up in the Fund balance and I'm not sure how to get it there.
I know that this isn't income but how do I increase the balance of the restricted account?
BJ Whitson