Fund Balance Report

Sheilah · Post by **Sheilah** » Mon Mar 01, 2004 3:58 pm

Why does money transferred from my savings to my checking not show up on the Fund Balance Report? The balances in my chart of accounts are all correct.

Thanks. Sheilah

Zeb · Post by **Zeb** » Mon Mar 01, 2004 5:35 pm

The Accounting Fund Balances report is looking at your Fund Balance account (typically 3001) and your income (accounts 4000-4999) and your expense (accounts 5000 and above).

With your transfer, did you affect any of those accounts? If not then it will not show up on this report. Here is a document on transferring money.

Sheilah · Post by **Sheilah** » Mon Mar 01, 2004 5:45 pm

I did the transfer just as stated in the instructions. However, I was transfering within the same fund (from Youth Savings (50-1210) to Youth Fund (50-1110) and therefore used the same Income Transfer Fund (50-4999)) Is that where my problem is? This will be something that I do on a fairly regular basis, so I would like to know that I'm doing it correctly and that it is going to show up in the Fund Balance Report.

Sheilah

Zeb · Post by **Zeb** » Mon Mar 01, 2004 6:22 pm

you did it correct. But in your example your income transfer account went up and went back down, so its not going to show any affect on that report.

But thats OK and sounds like you are doing it right if you are following that guide.

Sheilah · Post by **Sheilah** » Tue Mar 02, 2004 10:24 am

What report should I be running to show the actual fund balance? I have to run a report for the Pastor and department heads once a week to show the balance in each fund, and even though I did the transfer from savings correctly, I still need it to show that the fund balance went up. Should I set up the savings account under a separate fund number so that when I transfer the money, it will effect two different Income Transfer accounts?

Thanks. Sheilah

Post by **Zaphod** » Tue Mar 02, 2004 11:05 am

even though I did the transfer from savings correctly, I still need it to show that the fund balance went up.

If you transfer money between two asset accounts in the same fund, you will see no change in the fund balance. Fund Balance = Total Assets - Total Liabilities, so if you take away from one asset and add to another, you have a net change of zero. In the case of the transaction you described, the fund balance won't actually go up.

If you had transferred from one fund to another, you would have seen the fund balance in the inital fund go down, and the target fund balance would have gone up. The net change for all the funds combined would have also been zero.