Yr. End Fund Balance

[FirstLutheran]

Every deposit we do a manual split 90/10 for general budget and benevolence. In addition, at the beginning of each year, we estimate and budget what the 10% will be. In several of the past years we have received more income than what was budgeted and we actually only sent what we budgeted to the recipients. Due to this fact, even though we tithe our benevolence account, the fund balance in the benevolence account has had a positive balance. Can I do a manual transaction at the end of the year to move the "system closing" amount 02-3001 - benevolence fund to the general account 01-3001 - general fund? (Because we have not always met budget, the general fund balance is in the red.)

[Matt]

I assume that there is also a positive balance in the Benevolence fund checking account (02-1110) and a negative balance in the General Fund checking account (01-1110). If so, you could post the following entry to transfer the cash from Fund 02 to Fund 01:

Debit 02-3001
Credit 02-1110
Debit 01-1110
Credit 01-3001