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What is the best way to handle (as in getting rid of) a fund that hasn't been active for five years?

Thanks, Pat

You could Merge the Fund into another Accounting Fund, just be aware that any transaction history would also merge

Patricia wrote: ↑

Mon Aug 29, 2022 11:21 am

What is the best way to handle (as in getting rid of) a fund that hasn't been active for five years?

Thanks, Pat

Another suggestion is to do the following since the IRS only requires records be held for four years. Since you have five years since it was used, you can use the Delete old data function under Fund Accounting to delete any transactions to that fund, then you can delete it from the system.

1. Make a backup of the accounting files.
2. Use the Delete old data function using a date (month really) after the last transaction entered into that fund.
3. After completion of step 2, delete the old fund.
4. Do another backup of the accounting files.

This way you have a copy of the accounting files for that fund if needed in the future, but you've eliminated it from the system going forward.

Does this help?

It's worth noting that Niel's solution is viable, but indiscriminate, and will delete old fund data for all funds prior to the month specified during the Delete Old Data procedure.

Another option would be to disable the fund within Maintain List of Accounting Funds. This doesn't delete the fund or any of the previous data, but will remove it and the associated transactions from any reports you run.

Zasalamel wrote: ↑

Mon Aug 29, 2022 2:42 pm

It's worth noting that Niel's solution is viable, but indiscriminate, and will delete old fund data for all funds prior to the month specified during the Delete Old Data procedure.

Another option would be to disable the fund within Maintain List of Accounting Funds. This doesn't delete the fund or any of the previous data, but will remove it and the associated transactions from any reports you run.

That's a much better option than merging.