Now that Version 9 does not enable me to close the fiscal year...how do I get my expense accounts back to zero? In otherwords our women's ministry team has a certain amount in the budget each year, but we do not carry the balance over to the new year. Say that they do not spend $1000 in the year but only $950....we do not let them start the next year with $50 extra....they only have $1000 for this new year so their balance starts at zero.
Thanks,
Kathy
Getting Expenses Accounts to zero for new year
Moderators: Moderators, Tech Support
-
Jeff
- Program Development
- Posts: 1225
- Joined: Fri Sep 05, 2003 11:43 am
- Location: PowerChurch Software
- Contact:
Kathy,
I don't undrestand exactly what you are looking for. Budgets are not posted to accounts, they are only projections of what you think you are going to spend. Budgets do not need to be closed to zero. When you enter a budget, you are entering the projected spending for the month. As you enter transactions, the account balance changes. Budgets do not carry from month to month. Some reports give you the option of showing annual or year to date budgets, PowerChurch Plus will automatically figure out what months to include for the annual or year to date period based on a new setting for when your accounting year starts.
I don't undrestand exactly what you are looking for. Budgets are not posted to accounts, they are only projections of what you think you are going to spend. Budgets do not need to be closed to zero. When you enter a budget, you are entering the projected spending for the month. As you enter transactions, the account balance changes. Budgets do not carry from month to month. Some reports give you the option of showing annual or year to date budgets, PowerChurch Plus will automatically figure out what months to include for the annual or year to date period based on a new setting for when your accounting year starts.
-
nccchurch
- Posts: 46
- Joined: Thu Sep 16, 2004 10:12 am
- Location: North Cincinnati Community Church
- Contact:
clarification
After talking with our accountant I may be able to explain our problem a little clearer:
He says that at the end of the year all expense accounts close to an equity account, usually excess income/expense - then when I open the trial balance page the beginning balance on each account would be 0.00
This used to happen in powerchurch when we closed the year. But now that we are only closing months - when I closed August and looked at the trial balance sheet in working month September (the first month of our fiscal year) the beginning balances in the expense accounts are not zero. My accountant wants them to be zero - so do I have to run transactions and move all the amounts to the excess income/expense account?
Thank you,
Kathy
He says that at the end of the year all expense accounts close to an equity account, usually excess income/expense - then when I open the trial balance page the beginning balance on each account would be 0.00
This used to happen in powerchurch when we closed the year. But now that we are only closing months - when I closed August and looked at the trial balance sheet in working month September (the first month of our fiscal year) the beginning balances in the expense accounts are not zero. My accountant wants them to be zero - so do I have to run transactions and move all the amounts to the excess income/expense account?
Thank you,
Kathy
-
Jeff
- Program Development
- Posts: 1225
- Joined: Fri Sep 05, 2003 11:43 am
- Location: PowerChurch Software
- Contact:
Initial releases of version 9 have this problem. It has already been addressed in a maintenance release which can be downloaded at http://www.powerchurch.com/mr This should correct the trial balance report. The fix also corrects the beginning balance amounts on the account activity report as well.
By the way, a new maintenance release will be posted either later this afternoon or tomorrow sometime as soon as we finish testing it.
By the way, a new maintenance release will be posted either later this afternoon or tomorrow sometime as soon as we finish testing it.
-
nccchurch
- Posts: 46
- Joined: Thu Sep 16, 2004 10:12 am
- Location: North Cincinnati Community Church
- Contact:
Power Church Rocks!
Jeff,
I wanted to take a minute to say thank you for your quick replies to my posted questions...and I d/ld the mr and closed my month and everything looks great!
I really want to compliment everyone at Powerchurch for all the work that they are doing to correct problems and get these maintenance releases out to us - you guys are great! This is the most supportive software company I have ever dealt with - thank you!!!
Please pass our appreciation along to everyone at Powerchurch.
Kathy
I wanted to take a minute to say thank you for your quick replies to my posted questions...and I d/ld the mr and closed my month and everything looks great!
I really want to compliment everyone at Powerchurch for all the work that they are doing to correct problems and get these maintenance releases out to us - you guys are great! This is the most supportive software company I have ever dealt with - thank you!!!
Please pass our appreciation along to everyone at Powerchurch.
Kathy
