Hi all, I am finally setting up temporarily restricted accounts through my GL. Should I use a separate fund or classify a new account as temporarily restricted? I'm planning to convert to FE by the end of year. Should I just use a spreadsheet to tract? Any other tips? Thank you for your help.

I'm in almost the same boat as Jeanne-just setting up some accounts for new grants and not sure how, and also about to convert to FE. So I'll be interested in any advice as well. Thanks!

The answer depends how sophisticated your accounting skills are. If you understand fund accounting using multiple funds, then create the second fund and the upgrade to FE will not be an issue. If you rely on your Auditor to assist with making the necessary year end adjustments for temporarily restricted activity, then stay with one fund and use the account classification for temporarily restricted accounts which should still save the auditor time at year end. Good Luck, Donald Smith