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In addition to the gen ops ck acct(1100) I have 3 ck accounts in the 1100 series of the CoA that are for pure(no mix) restricted contributions. Problem...the balances of these accounts then show up as Unrestricted Net Assets(3110). Also, I don't see a way of closing these 3 "Asset" accounts to their temp restricted equity counterparts. Question...There has to be a better way???
Status...wrapping up creating CoA, but beyond "setup."
Ron

Ron wrote:In addition to the gen ops ck acct(1100) I have 3 ck accounts in the 1100 series of the CoA that are for pure(no mix) restricted contributions. Problem...the balances of these accounts then show up as Unrestricted Net Assets(3110). Also, I don't see a way of closing these 3 "Asset" accounts to their temp restricted equity counterparts. Question...There has to be a better way???
Status...wrapping up creating CoA, but beyond "setup."
Ron

Do you have the This Account Uses Restricted Money checkbox checked on the account details tab ??

FWIW ... I don't believe these asset accounts close to another asset account. If you run a Account Close To report, I think you'll just see Income and Expense accounts shown.

"Net Assets" and "Asset" account are 2 different type of accounts. When you see "Net Assets" think Equity. In for profit accounting these would know as Owners Equity or Stock Holders Equity Accounts. Asset accounts do not close to Equity accounts.

I am making an assumption that you have 3 different checking accounts to keep track of separate balance for different projects. While you can certainly have several different checking accounts. PowerChurch lets you use one combined checking account and keep track of these balances for these projects in the equity section.

Thank you Neil and Jeff.
The 3 accounts that I refer to are actually physically separate from the gen checking account. They are checking/interest bearing accounts totally dedicated to "projects," and contain as mentioned earlier, dedicated/restricted funds. They do not currently close to any equity accounts, and you confirmed they shouldn't.

I plan, as Jeff suggested, to create sub accounts of the primary checking account to temporarily accommodate designated weekly offerings that are deposited along with the general tithes/offerings into primary checking. These designated funds are then transferred to the 3 accounts via check monthly. This will allow us to determine just how much to allocate to the 3 accounts.

I have just completed the accounting setup and do not understand how the program came up with the Unrestricted Net Assets/Equity(3110) number on the Balance Sheet. Confusing the issue(s), we've opted not to have any fixed assets/depreciation, etc. Since we have a mortgage (Long Term Liability), the 3110 number is negative.

As you can imagine, I have a ways to go to set this up correctly and there may be multiple issues here. Whatever clarity you can provide will be most appreciated. Thanks in advance
Ron

The 3110 number is simply the difference between your total assets and total liabilities. Since it sounds like you didn't enter any fixed assets, but entered a liability against those assets (the mortgage) this caused your total liabilities to be higher than your total assets, creating the negative 3110 balance. You may want to consider adding in the value of the fixed asset the mortgage is against to correct the problem with the negative 3110 balance.

Also, if you want the balances in your 3 checking accounts to show up in their temp restricted equity account counterparts you will need to input a transaction in Fund Accounting that debits the 3110 account and credits the temp restricted equity counterpart account.

Thanks Matt. I understand TA - TL = 3110; I was making it more difficult by trying to derive the Unrestr Net Assets by a [quote]different method.[quote]

Also, appreciate the advice re: fixed assets and manual transactions.

Ron