User Support Forum

I am a new user this year to fund accounting. I have used the contributions module on its own for two years, but now I am in charge of everything. Boy this is getting to be more confusing the more I get into it. I have posted all the Contributions in the Contributions Module only. I want to know if there is another way of putting in our Contributions into the Fund Accounting other than Enter Transactions; Make a Deposit into the Gen Checking Account and then moving the money around from the Gen Checking Account to the other Fund Accounts (like Missions; Gen Fund; Women's Group)?

And I understand all about following the credit card debit and credits, but since I want to make this as easy as possible can I just put in a A/P as paid to credit card and then make changes in Fund Accounting with listing a transaction line for each credit on the card before I post?

Thanks, sam

sam wrote: I want to know if there is another way of putting in our Contributions into the Fund Accounting other than Enter Transactions; Make a Deposit into the Gen Checking Account and then moving the money around from the Gen Checking Account to the other Fund Accounts (like Missions; Gen Fund; Women's Group)?

Since you've already posted in Contributions, you will have to enter a transaction in Fund Accounting. However, it is easier than what you're conceptualizing. Instead of making one transaction for the total amount, then transferring everything around in a second transaction, just create a single transaction with many lines that does all the proper account allocation. Basically, you're talking about two or more transactions when one will suffice.

sam also wrote:And I understand all about following the credit card debit and credits, but since I want to make this as easy as possible can I just put in a A/P as paid to credit card and then make changes in Fund Accounting with listing a transaction line for each credit on the card before I post?

That should work. You'll be able to make changes in Fund Accounting Unposted Transactions after you've posted in AP. You may want to discuss some of the finer points of your issues with an accountant.

Sam,

Regarding your first question--do you have debit and credit accounts set up on your Contribution Funds? If so, when you go to post contributions in the future post to both the Contributions module and Fund Accounting. Powerchurch will summarize the transactions for you and create a general ledger posting so you don't have to do this manually.

Regarding your second question--when you pay the credit card bill you can put multiple lines on the transaction in the Accounts Payable module. That way when you post the transaction in Accounts Payable the Fund Accounting will be automatically updated.

For example, if you have a $100 bill to pay that belongs on 5 different lines you can separate this as follows in Accounts Payable:

DR Expense Account 1 - $20.00
DR Expense Account 2 - $20.00
DR Expense Account 3 - $20.00
DR Expense Account 4 - $20.00
DR Expense Account 5 - $20.00
CR Cash $100.00

Hope this helps,

Matt