Transfer of funds from checking to investment

[Murry_Page]

I need to transfer funds from our checking to our investment with Missionary Chruch investments.
I have an Asset account (1210-000) that we initially setup when we installed PowerChuchPlus 14 with the previous money we had sent Missionary Chruch but now need to add to it. I would like to show we increased our asset in 1210-000 and sent money from checking 1110-000 to Missionary Chruch.
Struggling to figure out how to accomplish this.
thanks,

[NeilZ]

I need to transfer funds from our checking to our investment with Missionary Chruch investments.
I have an Asset account (1210-000) that we initially setup when we installed PowerChuchPlus 14 with the previous money we had sent Missionary Chruch but now need to add to it. I would like to show we increased our asset in 1210-000 and sent money from checking 1110-000 to Missionary Chruch.
Struggling to figure out how to accomplish this.
thanks,

You're not changing your income as the funds have already been processed as income, such a transfer will only show when you do a balance sheet showing that there were funds shifted, and this will only show if that asset has its own fund balance account.

If it does, than a simple debit/credit transaction made in Funds Accounting will move the funds. I would have setup the 'mission church' up in a separate Accounting Fund so that when you transfer funds, there is a definite transfer needed.

[Murry_Page]

Yes, I agree I should setup a separate saving account for Missionary church. I can still do that as we are just getting started.
Thank You,

[NeilZ]

Yes, I agree I should setup a separate saving account for Missionary church. I can still do that as we are just getting started.
Thank You,

Note I said a separate accounting fund, a separate savings account will still use the fund balance/equity account that the checking account uses. You can either create a separate accounting fund, or setup the mission account as a DONOR RESTRICTED fund, where the funds are kept in the checking, but are programmatically kept separate. So that when you write a check, you have to RELEASE the funds from the account, this is then traced in the financial reports.

[Steve Seitz]

Neil,

I know this is an old topic, but I am in the same position as Murray_Page. I understand the simple debit/credit transaction for moving the funds from checking to the investment, but how would you record the actual check writing transaction that would occur to get the money to the investment firm?

[NeilZ]

Neil,

I know this is an old topic, but I am in the same position as Murray_Page. I understand the simple debit/credit transaction for moving the funds from checking to the investment, but how would you record the actual check writing transaction that would occur to get the money to the investment firm?

OK, it would look just like a normal check transaction, but entered via Fund Accounting. I'm assuming that they both close to the same fund balance/net assets account