Adding a Restricted Fund

Follow

Restricted Funds are subaccounts of asset accounts that show money that has been set aside for a specific purpose, but doesn't get its own bank account. Restricted funds are tied to the asset account they were created under, and when you make your first restricted fund under an asset account, a second account will be created called "Unrestricted (*name of asset account*)". This Unrestricted account shows the amount of money within an asset account that isn't included in the various restricted funds under that asset.

Examples of restricted funds are memorial funds, building funds and mission funds.

  1. Click on the Settings cog and then select "Chart of Accounts"
  2. Scroll down to the Asset account section of your Chart of Accounts, and click the "New Restricted Fund" button on the asset account you want to add a restricted fund to.
  3. Enter in the restricted fund name and number (if applicable)
  4. Click "Submit" to save your Restricted Fund
  5. Click "Save Changes" once you have finished editing your entire Chart of Accounts

Restricted_Fund.PNG

0 out of 0 found this helpful

Comments

0 comments

Article is closed for comments.