USA Journal entry to note "set aside" funds

[Victoria#]

I want my balance sheet to reflect that I am setting aside a certain amount of money for a long term project. I think of this as a de facto savings account. I don't want to open up a real world savings account for this purpose. I think that I should create an Other Current Asset account for the set-aside funds. Do you agree? If so, what would the journal entry be to have an amount of money show up in this Other Current Asset account? I think that I would debit the Other Current Asset account to increase the balance; I'm not sure what account to credit.

I greatly appreciate your thoughts on this. Please lmk if I need to supply more information.
Regards, Victoria