If you are not sure about what accounts to use then contact your Accountant or Auditor for specific recommendations on these adjustments.

1.  Create a manual Journal Entry for the amount that needs to be adjusted or “reclassified”, then save and close.
2.  Run the appropriate financial reports, filtering to include Not Yet Posted transactions, to verify the journal entry resolves the issue.
3.  Post the adjusting Journal Entry.



Example entry to adjust the class within the same fund (does not adjust the fund balance):
*Account setup is Fund-Account Code
*The example below uses “Revenue” and "Liability" category accounts
 
Current Balance:
Fund 1 Temporarily Restricted Net Assets    $100.00
Fund 1 Unrestricted Net Assets                  $100.00
Fund 1 Total Fund balance                        $200.00
 
 
DR REVENUE ACCOUNT            01-4040           $50.00 (TEMPORARILY RESTRICTED)
CR REVENUE ACCOUNT            01-4040           $50.00 (UNRESTRICTED)
DR DUE TO ACCOUNT                01-2112           $50.00 (UNRESTRICTED)
CR DUE TO ACCOUNT                01-2112           $50.00 (TEMPORARILY RESTRICTED)

New Balance:
Fund 1 Temporarily Restricted Net Assets    $50.00
Fund 1 Unrestricted Net Assets                  $150.00
Fund 1 Total Fund balance                        $200.00


Example entry to adjust the fund balance:
*This example will show how to increase Fund 2 balance by $50.00
*The example below uses “Revenue” and "Liability & Asset" category accounts 

Current Balance:
Fund 1  balance                                               $200.00
Fund 2  balance                                               $100.00

DR REVENUE ACCOUNT           01-4040            $50.00
CR DUE TO ACCOUNT               01-2112            $50.00
CR REVENUE ACCOUNT           02-4040            $50.00
DR DUE FROM ACCOUNT         02-1112            $50.00

New Balance:
Total Fund 1 balance                                 $150.00
Total Fund 2 balance                                 $150.00
 
 


*For more information about selecting accounts for these transactions please refer to the following Knowledgebase articles: