User Support Forum

Neil, I've looked at this until I can't see the forest for the trees. We did a paving project last year for $35,500 and the donations fell short by $25,000. That left our unrestricted net assets 01-3110 in negative territory. We have a positive balance in our check of $40K, but we receive large pass-thru donations that could deplete that quickly. I'm clearly missing something simple but need some help. I have the project set up as temporarily restricted and expensed with proper restricted funds release, etc. Looking for some clues as to what more to look for. Thanks.

Neil, before you spend time answering this, I may have found the problem. I have to run my close to reports and check that each expense account is closing to 3110. I'll post my solution.

I found the problem. The Project expense account was set to close to the "Equity" account instead of 01-3110.

cbrown wrote: ↑

Sat May 10, 2025 11:00 am

I found the problem. The Project expense account was set to close to the "Equity" account instead of 01-3110.

That should be correct, as you should release funds from the temp restricted 01-3xxx to cover those expenses coming out out of the 01-3110 .

So at the end of the year my project cost overran donations by $25,000. It's a temp restricted account and the $25,000 is carrying over for the 2025 fiscal year. what should I have done to close it out in 2024 so it's zero for the next project? Thanks.

cbrown wrote: ↑

Mon May 12, 2025 10:08 am

So at the end of the year my project cost overran donations by $25,000. It's a temp restricted account and the $25,000 is carrying over for the 2025 fiscal year. what should I have done to close it out in 2024 so it's zero for the next project? Thanks.

Ok ... you didn't say where the $25K is sitting. in the Temp Restricted Net Assets? Is it a negative number? Did the bills get paid out of the unrestricted net assets account?

I can't suggest anything without knowing more.