Reconciling

[juanitasamuels]

I am in the process of reconciling but the amount deposited does not match the amount that was entered for contributions. One week it was off by .35 cents.....I went in and adjusted the balance in loose plate and posted it. However, the balance did not change...What am I doing wrong? Is that suppose to change based on the amounts that are posted for that month

[JohnDMeyers]

Did you do all of the following:

1) Enter .35 in Contributions
2) Post in Contributions (same month as reconciliation)
3) Post in Fund Accounting (same month as reconciliation)
4) Open Reconcile Window
5) Make sure date at top of reconcilation window includes the Fund Accounting post date (step 3 above)
6) Reconcile .35 entry

If you did all this and nothing changes, let me know. I think you are on step 2 above based on how I read your post, but I could be wrong.

[juanitasamuels]

That did work thanks a lot.

I have another question....We accept atm transactions...How do I reconcile if a portion of the money does not get deposited until the following month

[JohnDMeyers]

In general, when we collect money on Jan 31, if it is a Sunday, and we don't deposit it until Tuesday, which would be in February, there is no problem. It does not appear on our Jan 31 bank statement, from the bank, but it is in our list of deposits. We just leave it unreconciled, and PowerChurch allows for that.

I have not dealt with ATM transfers. I'm not sure that I would enter them as a deposit until I see them in my account. I am not familiar with the process. Do you get a notification that someone made an ATM deposit before the deposit is made?

[juanitasamuels]

What happens if you leave it unreconciled....can the month still be closed out....how does it affect the beginning balance for the next month

[JohnDMeyers]

Nothing "bad" happens. It's quite common to have a few unreconciled checks and/or deposits each month.

You can still close out the month.

As far as your beginning balance for the next month, PowerChurch will give you a reconciliation report showing the reconciled balance and the outstanding checks and deposits that you have entered. Your PowerChurch balance will be affected by the unreconciled deposits and checks.

Occasionally, a check will go uncashed. You will see it hanging out there, month-after-month. You should have a policy on how to deal with such things. For example, after three months, contact the vendor. After six months, either re-issue the check or void it, etc.

[juanitasamuels]

Thank you....I really do appreciate your help with this.....I only work on this on Sunday evenings and mondays....I am not sure if I will have additional questions yets

[stroupesters]

Hello:

I have recently taken over the books and noticed that the books have not been reconciled within PC+ for several years. How do I update reconciling and what are the typical procedures for this software?

Any help would be greatly appreciated!

Thanks much!

[JohnDMeyers]

If you are currently in Feb 2012: I would use the bank statement from 12/31/11 as a starting point.

Go to Fund Accounting / Reconcile and enter the ending balance and 12/31/11 date. Go through and reconcile every item in the deposits and credits up to the last one showing on the bank account 12/31/11.

You will be off by a gazillion dollars in one direction or the other.

Make one entry that says "reconciling 2008-2011, or something like that.
Date this transaction 1/1/12, and post in the current month.
01-1110-000 $correction_amount
01-3110-000 $correction_amount

[juanitasamuels]

I am trying to reconcile July but I don't see the contributions that were posted....I am sure I might have missed a step....I can see them in posted contributions but I don't see them in fund accounting....What am I doing wrong....I am wondering if maybe they were posted in a different month....How would I be able to tell

[JohnDMeyers]

The first place to look is in unposted transactions in Fund Accounting:
Fund Accounting / Maintain Unposted Transactions
and see if they are hanging out there, unposted

The second place to look:
Go to Contributions / Setup / Maintain List of Contribution Funds
Find the Contribution Fund you used for the contributions
Click on the Accounting tab
See which income account you intended them to post to
(if the DB or CR is blank, that may also be a problem)
But, assuming there is an account, it should be in the 4000's.

Goto Fund Accounting / Reports / Account Activity
run an account activity on that 4000's account for all the months
See if anything got posted there.

If not, you may have posted in Contributions, only, which is an option when posting.

[juanitasamuels]

O.k. Thanks they were posted under a different month that's why I could not find them....at this point I am just entering everything for the year and then try to find where I am off at the end of the year....every month have been off....and I can't seem to find out why...