Restricted Account Balance at Yr End

I have done church bookkeeping over 20 years but this is the first year with a new software.

We have several "temporary restricted" accounts for things like retreats.

Our last fiscal year just ended and a few of our accounts have a positive balance (in one case the retreat is this first month of the new fiscal year so monies were collected the prior month). In my old software (Shelby), I simply journaled the monies at fiscal yr end to carry the balance forward into those same accounts for the new fiscal year.

I'm with a new software now (Aplos) and have been told by them that this is incorrect and those accounts should zero out each year. In the past I have always done this as these accounts are not part of the General Fund balance.


Click here to post comments

Join in and write your own page! It's easy to do. How? Simply click here to return to Church Accounting FAQs.

Need training on how to use QBO or Aplos effectively for a church or better yet ...need an expert in either of those accounting software to do your monthly bookkeeping and/or payroll? See more on our accounting services!

Recommended Resource!

Online classes/courses on how to use QuickBooks Desktop and QB Online for a church! 

Click here for more details!

Use coupon code "FCA" for 10% discount!