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ChurchBooks79
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Can you walk me through adjusting equity accounts? It is a church and I am using classes but I setup qbo by journal entries that offset all starting balances in checking, money market, cds, and endowment…with equity funds for the three types of funds: general fund, temporary restricted funds, and permanent restricted funds. This was the only way I imagined of making balanced double accounting entries. All of my individual funds exist as classes, like individual memorial funds, mission accounts etc. when I set everything up assets=liabilities+equity……but as I make deposits the classes do a great job of tracking (though reports with classes leave a lot to be desired), but how to I adjust equity funds while still keeping revenue correct on p&l report, or is there another way to handle opening balances?

 

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