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Join nowHello, I am a volunteer Treasurer for a Rotary Club. We collected annual dues in April, May, and June of 2021 and receipted the checks to a deferred income account for dues. There are no invoices. Our fiscal year starts on July 1 and now I have to move the funds from deferred income-dues to Installation Dues as of July 1. I cannot figure it out and have not found the answer online. I have a person who will complete this task later in the month, I was trying to resolve before a meeting prior to that.
Thank you for any help
Leo
Solved! Go to Solution.
Hello Leo!
Thanks for reaching out to us. Allow me to help you in moving your funds to a different income account.
The best way to transfer income from your Deferred Income Account to a different one is by creating a journal entry. You can follow these steps:
You'll want to check this link: Debit and Credit. This will give you additional info on debits and credits, and understand accounting journals.
If you need to make some changes to your journal entry, you'll want to reverse or delete it. Check the detailed steps here: Reverse or delete a journal entry.
Do you need financial reports? I also have articles for your reference:
I'll be here if you need more help with this. Take care always!
Hello Leo!
Thanks for reaching out to us. Allow me to help you in moving your funds to a different income account.
The best way to transfer income from your Deferred Income Account to a different one is by creating a journal entry. You can follow these steps:
You'll want to check this link: Debit and Credit. This will give you additional info on debits and credits, and understand accounting journals.
If you need to make some changes to your journal entry, you'll want to reverse or delete it. Check the detailed steps here: Reverse or delete a journal entry.
Do you need financial reports? I also have articles for your reference:
I'll be here if you need more help with this. Take care always!
That was it. Thank you
Thank you, that was what I needed
Thanks for getting back with the Community about this, Leo Kaytes.
I'm happy to hear AlexV was able to help you with transferring your deferred income to a different account.
You'll additionally be able to find many detailed resources about working with QuickBooks in our help article archives.
I'll be here to help if there's any additional questions. Have an awesome day!
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