Does anyone know if there's a way to zero out a fund balance account without showing false income? My program is an old version of Money Counts so I'm sure there's an easy way to do it, I just can't figure it out on my own. Thanks!
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Interfund Transfers
AAndrew
I am not sure what software you are using, but transfers between funds are not considered revenue or expenses. They are Other Financing Sources/Uses. They show up on the Income Statement below the expenses. They will certainly affect your general fund net income, as it should. For your total funds figures, your interfund transfers should have a net zero effect.