setting the fiscal year

[tlovegrove]

Our church has existed since October. We have Powerchurch and would like to begin using it. We have transactions from October - now that need to be entered. We would like our fiscal year to be Oct 1 - Sept. 31. How do we tell Powerchurch that that is our fiscal year?? We are having a terrible time getting things entered in the proper fiscal month.

[passD]

[Zaphod]

The Accounting Month in Fund Accounting allows you to have a fiscal year that doesn't necessarily coincide with the calendar year. Accounts Payable, Receivable, Payroll, and Contributions all operate using the calendar date. This gives you the ability to generate reports like contribution statements and W2 reports yearly, but still have your fiscal year information intact.

To set up your fiscal year, you basically just start with month 01 in the month you want. For example, if your fiscal year begins in October, your entries to 10/01/2003 should be posted to 0401. This means the first month of the fiscal year ending in 2004. At the end of October, you'd close the month, and November would be 0402. Do this until you get up to your current position (assuming February, month 0405).

Fund Accounting only cares what the accounting month is. Everything else works off the calendar date. The only exception to this is the Check Register in Fund Accounting. That is run by calendar date.

If you need further explaination, please give us a call.