Incorrect Equity account balance

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LindaAnn
Posts: 1
Joined: Thu May 18, 2006 5:03 pm
Location: Vancouver, WA

Incorrect Equity account balance

Post by LindaAnn »

Our church discontinued using a separate fund for tracking savings and investments therefore I transfered all the assets to the General Fund-01. When I run a Balance Sheet for Fund-02 there is still a fund balance of $125.98. No balance in any other asset, liability or otherwise; just the equity account.

I need help on how to clear it from my records and/or how it remained.
I think it may have something to do with some early sales of CD's that incurred penalties AND a bank error of dividends and fees that caused much confusion.

Any suggestions would be helpful.
Linda-Ann
Ass't Bookkeeper
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Matt
Authorized Teaching Consultant
Authorized Teaching Consultant
Posts: 733
Joined: Fri Dec 05, 2003 4:04 pm
Location: Jacksonville, AL

Post by Matt »

Run the trial balance report for fund 02 to see what account has the $125.98 balance in it. Once you find out what account the balance is in you will need to input an adjustment in Fund Accounting to transfer the balance to an account in fund 01.
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