Any help is much appreciated. I am a volunteer treasurer at my church and am in the process of configuring PCP. I am not sure if I am off in the left field or not, but from start to finish, how would you go about setting up four funds attached to one bank savings account. Do I set the four funds up individually with the beggining savings account balance at 0, then enter the beggining balances of the four funds attached to the account? Not sure where to go with this.
Thank you in advance and kind regards,
Tim R.
Four Funds - One Savings Bank Account
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Matt
- Authorized Teaching Consultant
- Posts: 733
- Joined: Fri Dec 05, 2003 4:04 pm
- Location: Jacksonville, AL
I assume that you are in the midst of using the accounting setup assistant. If so, the accounting setup assistant will only create the chart of accounts for your general fund. Accordingly, when entering beginning balances, only enter the beginning balance for the portion of your savings account balance that belongs to the general fund. Once you have completed the assistant and have your general fund chart of accounts set up create your other three accounting funds. Once they are created you will need to enter accounting adjustments in Fund Accounting to establish the beginning balances for the savings account balance for each fund.