User Support Forum

Wondering how others might carry over (record) budgeted $ that was not used in the current year to the next year.

Let's say our worship leader has 500.00 specifically designated for conferences in 2012 but she didn't go to a conference in 2012. (money not spent but in the bank)
She will be going to a conference in April of 2013 but can't register until February 2013. The cost is 1000.00.
and we DO NOT/CAN'T REALLY add the extra 500 to that line item but we don't want that line item to "LOOK" over budget for the last 3 quarters.

Is there a bookkeeping secret that could handle this?

Thanks

When you say that the money is specifically designated, I am assuming you mean that you have a $500 budgeted line item for it. The other way is if someone actually gave a $500 donation, which is different.

If you budget $500 and don't spend it in 2012, and if all of your other budgeted line items are in good shape (you didn't overspend in other categories), then you could move it to asset account. We use sub-categories of our checking account to "earmark" money that is not specifically donated for a purpose.

The transaction would look like this:
CR 01-1110-000 checking $500
DB 01-1110-100 worship conference $500

The money is still in the checking account, but it has a special category.

As far as your expense account, you budgeted $500 and didn't spend it. The only thing I can think of is remove the $500 from the 2012 budget and put in $1000 in the 2013 budget.