We are using V10. We currently have a General Fund 01 with Tithes & Offerings and Restricted Income assigned to Accounts within this Fund.
Expenses and releases from Restriction are also handled by individual Accounts within the fund.
The problem is getting reports that show just the income and expenses related to church operation without having Restricted monies included.
This makes it difficult to provide the church with reports that readily depict the tithes & offerings verses actual operating expenses without having to go through explanation of the consolidated monies.
Is there a way to accomplish the separation in reports with the structure we currently have?
One thought I have is to setup another Accounting Fund, i.e.02, and move all accounts associated with Restricted funds from the 01 Fund to the 02 Fund. The two funds would both still use the same bank account.
Anyone have an opinion on this?
Thanks,
Bob Freeman
Reporting Restricted money seperately from General funds
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Carol@bethel
- Posts: 9
- Joined: Fri Aug 17, 2007 7:11 pm
I am fairly new to Power Church also. We've been using Power Church for four months. We set up a General Fund (01), a Designated Fund (20) and a Building Fund (25). All costs of operations are charged to the General Fund.
We write all of our checks from one checking account, assigning all funds to that account. Our savings accounts also include all funds.
So far this arrangement has worked well. We can run an operations income/expense report and also have a designated funds balance sheet. When needed, we can run a consolidated balance sheet. We are in the middle of a construction project and our Building Fund seems to be working well to capture income, expenses, and liabilities associated with construction.
Hope this helps,
We write all of our checks from one checking account, assigning all funds to that account. Our savings accounts also include all funds.
So far this arrangement has worked well. We can run an operations income/expense report and also have a designated funds balance sheet. When needed, we can run a consolidated balance sheet. We are in the middle of a construction project and our Building Fund seems to be working well to capture income, expenses, and liabilities associated with construction.
Hope this helps,
Carol Brown
Bethel Presbyterian
Kingston, TN
Bethel Presbyterian
Kingston, TN
Restricted Funds
Hi, Bob!
I set up a line item in the Chart of Accounts under Temporarily Restricted or Restricted, whichever the case may be. I also set up a Fund under contributions and tied it to that GL account number. Then your reports will show the amount allocated to that fund as a separate total. I set up GFA Missions as a "Pass Through" contribution account, so it shows as a liability on our Income/Expense and Cash Flow statement. We set up our church mission trip as a Temporarily Restricted general ledger item, so it shows as an asset. It maintains separate totals and when we are ready to release the funds, they will come from these accounts. It's very helpful to have these amounts separate from our unrestricted income for reporting purposes. I hope this helps!
I set up a line item in the Chart of Accounts under Temporarily Restricted or Restricted, whichever the case may be. I also set up a Fund under contributions and tied it to that GL account number. Then your reports will show the amount allocated to that fund as a separate total. I set up GFA Missions as a "Pass Through" contribution account, so it shows as a liability on our Income/Expense and Cash Flow statement. We set up our church mission trip as a Temporarily Restricted general ledger item, so it shows as an asset. It maintains separate totals and when we are ready to release the funds, they will come from these accounts. It's very helpful to have these amounts separate from our unrestricted income for reporting purposes. I hope this helps!
Pam Haynes
412 Community Church
Mansfield, TX
412 Community Church
Mansfield, TX