Set Restricted Accounts to Zero Balance

[rcwoodcock]

Church Board has asked me to set some Temporarily Restricted accounts to zero balance because they've decided we necessarily used the funds for other purposes, also not enough money in checking account to cover them. I've asked them to re-consider, with mixed response so far in advance of next Board meeting. If they are adamant, is there even a way in PowerChurch to set the accounts to zero without paying money out of them?

[JohnDMeyers]

The transaction involves the specific release income account and the general release income account:

Fund Accounting / Enter Transactions:

DB 01-4810-000 specific release income account
CR 01-4999-000 general release income account

You will have to look up your actual account numbers.

[rcwoodcock]

Thanks, I see now how to do it, but still hope I won't have to!

[beas]

For what it's worth, your Board needs to be careful about using designated funds for purposes other than the designation. There are specific ways of handling this kind of thing. One is to try to locate the donors who gave these funds and either return the funds to them or get their permission (in writing) to use them elsewhere. If that is impossible or improbable, a membership meeting can be called and the membership asked to vote on moving the funds. Or the church can petition the court to okay moving the funds. In any event, you should seek counsel from an attorney.