We inherited quite a mess of a dozen funds, most of which carry a negative balance in the checking account or in the fund balance, but sometimes the fund balance is zero, and sometimes there are various debit and credit accounts with various amounts in them. Over 2005 I see the former financial secretary made various attempts to make the balances in the funds look more realistic, often by means of OOB entries, but one fund (which should be zero) persists in being $53K while the operating fund runs $-32K. Our board sees no need for the various funds and wants them consolidated.
(I am working on a fresh start for 2007, which so far is fine.)
My question is: Is there a basically simple way to transfer all the fund and account balances into the one operating account? Would it work to use the fund balance "close to" accounts?
More questions: Should all the asset account balances plus income account balances minus expense account balances minus liability account balances within a fund equal the fund balance in the Trial Balance report? I'm thinking, "no", because I don't see it happening. Should I be looking at a different report to see balances within a fund? Or do I somehow need to relate each same account number over the many different funds?
Is it basically okay to finish out 2006 all disjointed and hard to follow just by printing out lots of reports? Maybe my plan to shift balances around is not right either.
On v.9 now; church began with v.4 or so.
struggling for understanding
consolidating all the funds into operating fund
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