Transferring from functional statement

Fund Accounting, Accounts Payable, Accounts Receivable, Payroll

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jfoster182
Posts: 35
Joined: Mon Jun 07, 2004 9:15 pm

Transferring from functional statement

Post by jfoster182 »

I have some accounts that still have funds in them that will not be used, how do I go about transferring these funds into the general fund without them showing as income? Please be very specific and detailed when responding! I am very new to powerchurch and still have ALOT to learn!
J Foster

Zaphod
Program Development
Program Development
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Post by Zaphod »

Instead of using an income transfer account, you could offset the fund balance in each fund. That would do about the same thing. For instance:

To transfer $500 from your default bank account in fund 03 into fund 01, the transaction would look something like this:

03-1110-000 credit $500
03-3001-000 debit $500

01-1110-000 debit $500
01-3001-000 credit $500

Hope that helps.
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