User Support Forum

I'm using PCv.10 on XP. During initial setup of chart of accounts, the primary fund (01) is our General Operating Fund. I need to add 12 more funds. All funds will share a balance in various checking, savings, and investment accounts with money moving between them each month. For example, the Capital Fund (04) maintains balances in the same checking, money market, and bond fund (different institutions for each account) as does the General Operating (01). How do I establish beginning balances in each fund for the same shared bank account...ie: 01-1110, 02-1110, 03-1110. PC prompts you for starting balances for the 01 fund during account set-up, but I need to also establish the beginning balances for all the other funds so that the sum of those "like" accounts represents the actual bank balance at any given time. Thank You.

Have you already gone through the accounting setup assistant? If you have not, when answering the questions, just put in the balances for your 01 fund in each of the areas. After completing the accounting setup assistant, you can add the other funds and put in their balances.

One suggestion is to tell the setup that you are going to start the accounting one month earlier than you actually are. For example say you are going to start December 2007, tell the setup that you are going to start November 2007. This will let you put in beginning balance transactions for those other funds in November before putting in real transaction in December.

Thanks Jeff...as per your suggetions - everything seems to be falling into place.