Restricted Amounts Correction?

[wvuuc]

I have balances in Temporarily Restricted Net Assets accounts which should not be there, because the purchases / projects were finished long ago. The balances are there because I did not record transactions correctly. How can I now fix this at my year-end?

[JohnDMeyers]

If the expenses were made for the restricted purpose, then do this:

DB 01-4810-000 $remaining amount
CR 01-4999-000 $remaining amount

Your account numbers may be different.

This assumes that 4810 closes to your temporarily restricted net asset account and 4999 closes to the unrestricted net asset account.

Make this transaction before closing December of this year. When you close December, 4810 and 4999 will go to zero, and the Temporarily Restricted Net Assets will roll into the Unrestricted Net Assets.