Can anyone explain how FE closes to Net Assets on the Balance Sheet? I just converted from Simply Accounting - went live Apr. 1/06. For the entire 2005-06 fiscal year, I imported the net changes from SA to FE so I would have comparison data. In SA, there was a Current Earnings Account, which would close to Unappropriated Operating Equity at year-end. There is no such account in FE, and our final Net Assets numbers for March 31/06 are not correct. We want to make sure FE is closing properly so we don't have problems at next year end. Any explanation or advice would be appreciated!

Hi Leann, Check out the User Guides-Getting Started-Setting up Beginning Balances. It walks through step by step for you to get those beginning numbers in. If you have the Projects module, you can set up beginnin balances for each project. At fiscal year-end FE will combine the beginning balance with your FY activity to get a new "Current Earnings" balance. Good Luck! Nora Langolf Community Foundation for the Fox Valley Region Appleton WI