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Subject Topic: Budget-Governmental accounting (Topic Closed Topic Closed) Post ReplyPost New Topic
  
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CanadianCPA
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Joined: 19 May 2010
Location: United States
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Posts: 554
Posted: 23 Jul 2010 at 21:05 | IP Logged  

Budget set up

DR Est Rev, DR/CR Budgetary Fund Balance (depends if estimated revenue is greater than appropriations, or appropriations are greater than estimated revenue), CR Appropriations.

The entry will be opposite to what they are supposed to be for financial accounting because it is a budget.

Close budget

DR Appropriations, DR/CR Budgetary Fund Balance (depends on what it was in the entry above), CR Estimated Revenue.



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