3000 Account Guidance

Email Sent on Friday, October 28, 2016 12:41pm from Jenny Salkeld, Chief Financial Officer

Colleagues,

Given some recent inquiries at the ASB trainings regarding the 3000 QuickBooks account, below is guidance on the topic:

  • This is an equity account and reflects the net worth of the ASB. There should be no manual journal entries or check activities posted to the 3000 account. If students would like to use the balance in this account, we recommend that the expense is posted to a 6000 account. At fiscal year-end, the net income (revenue and expenses) closes into the 3900 account, Income and Expense Summary. Financial Clerks prepare a journal entry transferring the balance of the 3900 account into the 3000 account, ASB General Fund.

    • For unorganized ASBs, typically elementary and some K-8, please coordinate with Anna Day and DeAndra Green to setup the 6000 account series in your QuickBooks chart of accounts.

  • In regards to procedure 2225 and the close out of dormant accounts, the balance of these accounts should be posted to a 4000 account titled "Transfer of Dormant Accounts" in lieu of posting to the 3000 account directly. If students so chose to use these proceeds, this can be reflected in the student council minutes.

    • For unorganized ASBs, typically elementary and some K-8, please coordinate with Anna Day and DeAndra Green to setup the 4000 account series in your QuickBooks chart of accounts.

  • Due to a recent Internal Audit report and the reference to high balances in the 3000 account, the Finance team is currently reviewing all ASB balance sheet accounts and will be providing guidance to the principals and financial staff in the upcoming months.

Let me know if you have any questions.

Jenny Salkeld, Ph.D.
Chief Financial Officer
San Diego Unified School District
4100 Normal Street, Room 3150
San Diego, CA 92103
Direct: 619.260.5443
Fax: 619.725.7692
[email protected]