Here is the dilemma:
I wrote a check from fund 01 for the building fund (04) the end of June. When I restarted the accounting system in July, I entered the check as an uncleared transaction in fund 01 but did not remember to include the deposit as an uncleared transaction in fund 04.
The $1367.00 June funds were deposited into fund 04 on July 14—how do I enter the transaction ? ??
Eileen
restarted accounting
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Matt
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Input and post the following two transactions as separate transactions in Fund Accounting for Fund 04:
1). Debit Checking Account
Credit Unrestricted Net Assets
2). Debit Unrestricted Net Assets
Credit Checking Account
Then, go into the bank recon. Click on the 2nd transaction to reconcile it but not the first. Now the first transaction will show as an uncleared deposit without any net impact to the checking account balance in the fund.
1). Debit Checking Account
Credit Unrestricted Net Assets
2). Debit Unrestricted Net Assets
Credit Checking Account
Then, go into the bank recon. Click on the 2nd transaction to reconcile it but not the first. Now the first transaction will show as an uncleared deposit without any net impact to the checking account balance in the fund.