Net Assets acct per fund

[stpaulser]

Should all Funds share one Net Assets account? Or should each have their own? I have only two Funds currently, General, and Endowment, and they share. I am about to set up a third, Outreach, this will have a separate checking account and separate Income/Expense.

[JohnDMeyers]

Each fund has to have its own net asset account. They can share the major-account (4-digit) number.

For example:

General Fund
01-3110-000

Endowment
02-3110-000

Outreach
03-3110-000

If you used 01-3110-000 for your Fund 02 endowment transactions, you will have to reverse it and start again.

[stpaulser]

Yes, now that I look closer I see I did number them General Fund 01-3110-000, and Endowment 02-3110-000. All I saw initially waas the 3110. I should have left a gap in the numbers though, because now I want Outreach to be 02, and Endowment to be 03. Anyway to change a funds number?

[Jeff]

Just go into Maintain List of accounting funds and change the 02 to 03 for the current endowment fund. This will change all the accounts in that fund to the new number.