User Support Forum

We paid an expense in January out of the Building Fund. They want it to show up in the General Fund P&L from now on. So I need to move the expense over to the General Fund from January.

So this was the entry:

02-1120 Building Checking $621.00 CR
02-8010 Expense $621.00 DR

It should have been:

01-1120 Building Checking in Fund 01 $621.00 CR
01-5743 Expens $621.00 DR

Can I just transfer the expense over into the General Fund or do I have to reverse this entry and re-enter it?

I was hoping I could just do an entry like this:

02-8010 Expense in Fund 02 $621.00 CR
02-9010 TFR to Fund $621.00 DR
01-5743 Expense in Fund 01 $621.00 DR
01-9510 TFR from Fund $621.00 CR

Thanks so much!

Mindy

It depends. Do you want to show the money coming out of the building checking in the 02 fund? If so, then your transactions will work. Essentially, it's saying that the money was transferred from the 02 building checking to the general fund to pay the expense.

If you don't want to show the money coming out of the building checking, then the easiest maneuver is to reverse the building transactions and start again in the general fund.