User Support Forum

PCv9. I would like to roll our 02 Missions fund back into our 01 General Fund and then eliminate the 02 fund. I want to use the same account numbers but just change the fund designation. I have tried several ways to move the accounts and data but have been unsuccessful. Does anyone have suggestions?
Thanks.

First, add the accounts to Fund 01 using Maintain Chart of Accounts. Once the accounts are added you will either need to reverse all the detail transactions that posted to Fund 02 and repost them in Fund 01 or do accounting entries to transfer the cumulative balances from Fund 02 to Fund 01. You will not be able to delete Fund 02 after transferring the balances because even though the cumulative balances are zero there's still transactions posted against the accounts. Recommend that once you transfer the balances that you inactivate all the accounts in Fund 02 to prevent future postings.

matt wrote:.... you will either need to reverse all the detail transactions that posted to Fund 02 and repost them in Fund 01 or do accounting entries to transfer the cumulative balances from Fund 02 to Fund 01. ....

Hello, Matt --

Since I may find myself in a similar situation before the year is out, how do I go about doing the second option (i.e., transferring balances from Fund 02 to Fund 01)? Is is just a standard transfer between funds operation?

Of the two solutions you offered, which do you prefer? (The first one -- reversing and reposting -- sounds like a LOT of work!)

Thanks again for all your wonderful help!

Thanks for your help Matt. Reversing the transactions is just not practical so I will go for door # 2.
Thanks.

Eden,

Transferring the cumulative balances is definitely the easier option. This will likely involve more than just a standard transfer between funds unless the only accounts to transfer are the checking account and fund balance accounts. To prepare the entries for the transfers you will need to run the Income and Expense Statement and the Balance Sheet for the fund being transferred and then prepare accounting entries based on the numbers on these two reports.

Matt

Matt,

Thanks for your very helpful response.