Release of Restriction

[RivertonCC]

V14.4
How should a release from restriction fund account be set up? ie...Detail|Income|box checked This is a release....
Also, I have $1,000 in our faith promise fund that should have been released but didn't how do I fix this?

[NeilZ]

V14.4
How should a release from restriction fund account be set up? ie...Detail|Income|box checked This is a release....
Also, I have $1,000 in our faith promise fund that should have been released but didn't how do I fix this?

Are you talking about a Donor Restricted account? It should be setup using the Maintain List of Donor Restrictions function under Accounting -> Fund Accounting -> Setup . That function leads you through the process of setting up the Donor Restriction and the accounts needed: fund balance, income, release accounts, and Contribution Fund. Any expense account is optional.

The release from restriction account needs to be turned on under the File -> Preferences -> Accounting Setup -> Fund Accounting tab The checkbox for Use release accounts should be checked. This creates the 4999-000 account.

When when you go to create an invoice in Accounts Payable, you should click the Release Restricted Funds button and then select the temp donor restricted fund from any list that appears.

All that said, if you didn't setup the Donor Restriction in that way, the system has no idea about it. You'll have to create a transaction under Funds Accounting to move the funds from any fund balance account you have for that 'faith promise fund' to the unrestricted net assets/fund balance account, usually 3110-000.

Please let us know how you have that 'promise fund' setup, and we can assist further if needed.