Fund Balance Acct 3001

[Dan Kent]

What is the logic of the 3000 account series? How does funds that are placed into these accounts by the system at year end get back into the income and expense stream? What if they do not get back into the income and expense stream?

[NeilZ]

What is the logic of the 3000 account series? How does funds that are placed into these accounts by the system at year end get back into the income and expense stream? What if they do not get back into the income and expense stream?

These are EQUITY accounts, in non-profit parlance, Net Assets. The term equity is used because its the most understood in the accounting world. Basically, this shows the church's liabilities + assets, which equal equity.

You can probably find out more about them by pressing the F1 - Help key in Powerchurch, and search in the index for EQUITY. You'll fine a listing for Equity Accounts, click on that and you'll get a page listing all the types of accounts used in Funds Accounting.

I do not believe you should be adding funds to these accounts directly, other accounts (income, assets and liability) close to these accounts.