All of our contributions are deposited into the checking account. This means that any restricted funds are deposited along with the unrestricted funds. But most of these restricted funds are building for future large expenditures (like the building fund). And our savings account is actually paying more than 4% APR interest.
So, if we transfer the actual $ from checking to savings, do we need to release it from restriction to enter the transfer, and then put the restriction back on? Only one of these (the new building fund) has an actual restriction in Power Church. The other two are just separate accounting funds that were entered long, long ago.
TIA for your help.
"Restricted" funds - move from checking to savings
Moderators: Moderators, Tech Support
-
- Tech Support
- Posts: 3104
- Joined: Thu May 13, 2004 9:59 am
- Location: PowerChurch Software
- Contact:
Re: "Restricted" funds - move from checking to savings
Transferring between bank accounts shouldn't require releasing the money from restriction. That wouldn't need to be done until the money is actually spent.