Beginning balances

[angel1]

Hello,
We will be upgrading to 11.5 from 10.4. I am waiting on the bank statements to verify the beginning balances and also any out standing checks in order to set up the accounting module. Do you suggest that we continue with 10.4 and then upgrade once I have all of the needed information for the accounting setup? I wanted to be able to enter contributions beginning on Sunday with 11.5

Thanks,
Angel

[NeilZ]

Hello,
We will be upgrading to 11.5 from 10.4. I am waiting on the bank statements to verify the beginning balances and also any out standing checks in order to set up the accounting module. Do you suggest that we continue with 10.4 and then upgrade once I have all of the needed information for the accounting setup? I wanted to be able to enter contributions beginning on Sunday with 11.5

Thanks,
Angel

I would do the upgrade (I'm assuming you're doing this on the same computer) to 11.5.

You can then continue to use Accounting in 10.4, but then use the 'Restart Accounting' button in 11.5 which will clear out all your current Funds Accounting data that was converted, but keep data such as Vendor Records in Accounts Payable, and personnel information in Payroll.

You can then start entering your Contributions in 11.5, but NOT post them to Funds Accounting until you have your end of year information finished in 10.4 and have used that information to create your Funds Accounting setup in 11.5

[angel1]

Thanks Neil,

Let me be sure I understand, convert to 11.5 for entering contributions, keep working in 10.4 until I have my information. Once I have the information then do the restart process in 11.5 ?

Another question If I don't post then will I still be able to run the Fund Contribution by envelope number report? WE give this report to our Pastor each Sunday (after we have entered the contributions, and posted them).

Thanks again for your quick response.

[NeilZ]

Thanks Neil,

Let me be sure I understand, convert to 11.5 for entering contributions, keep working in 10.4 until I have my information. Once I have the information then do the restart process in 11.5 ?

Another question If I don't post then will I still be able to run the Fund Contribution by envelope number report? WE give this report to our Pastor each Sunday (after we have entered the contributions, and posted them).

Thanks again for your quick response.

Correct, again I'm assuming you're redoing the Funds Accounting to redesign your Chart of Accounts, if not there really isn't any reason to restart accounting.

That said:


1. Install 11.5 .. go through the conversion
2. Do final 2012 processing in v10.4 Funds Accounting
3. Enter your contributions in v11.5 (make sure whoever does the contributions count uses the correct version of Powerchurch)
4. Restart Accounting and redesign your Chart of Accounts, then verify the Contribution Funds setup in Contributions to make sure that any changes in Funds Accounting account numbers are reflected in the Contribution Fund setups.
5. Post to Funds Accounting.

About the report ... I don't believe you'll be able to run that report. I'm fairly sure it accesses posted contributions only. However I'm sure your pastor will understand if you only give him Contribution Fund totals for the first few weeks of January. You can then run the report once you have everything setup.

[angel1]

Thanks. Yes we are redoing the chart of accounts as there are some duplication when it was setup. Since you mentioned Chart of Accounts, I looked at an example that was provided and when a member of the Finance Team and I reviewed the old chart of accounts she wondered why there were two mortgage entries, one under liability and another under expense. Could you provide some insight to us? I told her what I thought, but.....

Thanks again and Happy New Year to you.

[NeilZ]

Thanks. Yes we are redoing the chart of accounts as there are some duplication when it was setup. Since you mentioned Chart of Accounts, I looked at an example that was provided and when a member of the Finance Team and I reviewed the old chart of accounts she wondered why there were two mortgage entries, one under liability and another under expense. Could you provide some insight to us? I told her what I thought, but.....

Thanks again and Happy New Year to you.

The liability is what you owe, that's the balance on the loan, the expense is the interest payments on the loan. There's more to it than that, of course. This thread can help you out with setup and why its done that way:

viewtopic.php?f=3&t=3973&p=13519