Giving to building fund

[Heidilr1]

We have a liability set up for a building loan (0% interest, just paid back as money is givin for the building fund). Need help with the entries when people give money, and also when I write a check to go towards the loan.

When people give:

DB Cash
CR - ?

When I send the money to the lender:

DR - Liability account
CR - Cash

Can't figure out the initial credit.

Thanks,

[NeilZ]

We have a liability set up for a building loan (0% interest, just paid back as money is givin for the building fund). Need help with the entries when people give money, and also when I write a check to go towards the loan.

When people give:

DB Cash
CR - ?

When I send the money to the lender:

DR - Liability account
CR - Cash

Can't figure out the initial credit.

Thanks,

The contributions should be setup in the Contribution module, that system will ask you for the correct checking account, and the proper income account. When Contributions are posted, the proper transactions are created, and placed in the Funds Accounting Unposted Transaction queue.