I came to ask the same question, as we have "restricted" funds for various ministries within our church. I had set up "other current liabilities" for these accounts so that any money being collected for each fund was not counted as general donations, however it was still being deposited to our main account. The problem with this is to know what our true balance is in our bank account, we need to take the account balance and subtract the total of all of liability accounts for ministries. I would like to set up the bank sub-accounts under our general checking account instead. What is the best way to move the amounts I previously had recorded in the 'other current liability' accounts to a new sub-bank account under our main general checking bank account? This is where I have gotten stuck as my quickbooks knowledge is still developing. Any guidance you can give would be much appreciated.
