QB Issue Resolution:
“You can make the journal suggested by however what you will do each year following I am not so sure, may be worth speaking toto see if they can change your company type.”
For Fund accounting, you don’t have to use a NFP-specific program or interface. I do fund accounting for Governmental entities, for instance. It is just accounting. The rebalancing of equity can be done with every transaction that affects Restricted funds; or Monthly, or Quarterly or at year end.
Think of it as similar to “partnership accounting.” It really is the same concept = rebalancing.
This is another reason to use Class Tracking. You don’t always have to Rebalance in the accounting. You might simply want to have two classes: Operations and Restricted Funds. That might meet your reporting requirements.
Resolution for Issue 'Retained Earnings amount differs on B/S vs. Chart of Accounts' available: Yes (Solved).
Source: Intuit Community forum.
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