Negative opening balance

Fund Accounting, Accounts Payable, Accounts Receivable, Payroll

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josyf
Posts: 5
Joined: Wed Jan 12, 2022 3:44 pm

Negative opening balance

Post by josyf »

New User here - using power church online.
i did something stupid, and one of my temporarily restricted accounts now has a negative opening balance.
The true opening balance for this account should be $0.
I did create some transactions, but i backed them all out and am starting fresh.
All the reports i've run confirm that,
I cannot find the transaction that caused this,
Is there any way to reset the opening balance for this account?

Thanks in advance for any help

Zorak
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Re: Negative opening balance

Post by Zorak »

If the only problem balance is a restricted equity account balance, you should be able to resolve this by entering a transaction in Fund Accounting > Enter Transactions that looks something like this:

01-3210-000 Restricted Equity (Credit) $100
01-3110-000 Unrestricted Equity (Debit) $100

Where $100 is the amount of the negative balance. Adding that amount back into the restricted equity account will bring it to zero.

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