Deleting funds in Fund Accounting

by Don Colvin
(Olathe, KS)

I have several funds that I don't need anymore and I need to delete. I have a custom coded fund accounting system running on a AS/400.

When I delete all the accounts in a fund I get a message that the entire G/L is out-of-balance. I checked all the accounts in that fund and everything is 0 (current and last year).

The out-of-balance is because of the fund balance. Even though the accounts are all zero there is a fund balance left in the fund. Where can I transfer that fund balance to?

Vickey's reply

You are probably going to have to contact your system’s support.

I use QuickBooks and in it...if an account has at any time had a balance in it...you cannot delete it. You can make it inactive, but you cannot delete it.

1Comments

Delete a Fund.

DDon Colvin

You have to be able to delete a fund. In fund accounting you setup multiple one-time funds. If you cant't delete a fund then your Balance Sheet, Stmt of Revenues and Expenses report just keep growing and growing. There must be a way to transfer the fund balance so a fund can be deleted.
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