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  3. I need to change Corpus Fund from Income account to a Balance Sheet account. How to do that?

Typically, income heads like Corpus Fund, Sinking Fund, Caution Deposits should be reflecting in balance sheet under liabilities as these are ‘technically’ not revenues collected by society – but deposits collected which may be used in future or refunded.

In ApnaComplex, for you to be able to raise an invoice on any member/flat, you need to have the income head (charge type) as a member income category. When you create a member income category, system automatically creates an Revenue/Income account. To change this income account to a balance sheet account – please go to Accounting->Chart of Accounts – filter on the Revenue account class and on the income cateogry name. Click ‘Edit Account Details’ icon in the actions column – you will see a modal popup. Now, you can select the account class to ‘Liabiities’ and the account group to ‘Advances’ or something that is more appropriate for your society and then update.

The income account is now changed to a balance sheet account.

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