move amount from one income account to another

[Carol D]

I need to move an amount of money from our 01 general income account to another 01specific income account. I am assuming it should be as simple as a debit to the 01general income and a credit to the 01specific income. Is that correct?

We decided after we had some contributions for a specific contribution fund go to the 01 general income account that we wanted to have it's own income account. So my contribution fund shows we received 1000.00 for 2017 and my 01 specific income account for this fund shows 500.00. I know the other 500.00 is part of the 01 general income account balance for 2017 so I think I just want to move 500.00 out of the general income account and move it to the one we named specifically for this income.

thanks for your help

[NeilZ]

I need to move an amount of money from our 01 general income account to another 01specific income account. I am assuming it should be as simple as a debit to the 01general income and a credit to the 01specific income. Is that correct?

We decided after we had some contributions for a specific contribution fund go to the 01 general income account that we wanted to have it's own income account. So my contribution fund shows we received 1000.00 for 2017 and my 01 specific income account for this fund shows 500.00. I know the other 500.00 is part of the 01 general income account balance for 2017 so I think I just want to move 500.00 out of the general income account and move it to the one we named specifically for this income.

thanks for your help

Is this account setup for RESTRICTED Income?? Does it have its own Net Assets account (3000 level) ?? If so, you need to move from Unrestricted Net Assets to the Restricted Net Assets fund balance account for that income.

[Carol D]

no this isn't a restricted account. it is just income we decided to give it's own income account to so it would be listed by itself and not in the total of general income. It still gets handled like other 01 unrestricted income.

[NeilZ]

no this isn't a restricted account. it is just income we decided to give it's own income account to so it would be listed by itself and not in the total of general income. It still gets handled like other 01 unrestricted income.

As long as it still closes to the same Unrestricted Net Assets account, all you need is the DEBIT of the account you're moving FROM and CREDIT the account you're moving to.

I would also make any adjustments to Contribution Funds if people can contribute to this type of income.