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1 Checking Account, 2 Accounting Funds?
Posted: Mon Sep 03, 2012 8:13 pm
by Divine Word Lutheran
If our church is set up to have two main Funds - "on budget" and "off budget" can both funds use the same checking account? Would that be confusing somehow for reporting or balancing? Would it be better if each Accounting Fund had it's own Checking Account? Or do they actually have to?
Re: 1 Checking Account, 2 Accounting Funds?
Posted: Mon Sep 03, 2012 8:18 pm
by NeilZ
Divine Word Lutheran wrote:If our church is set up to have two main Funds - "on budget" and "off budget" can both funds use the same checking account? Would that be confusing somehow for reporting or balancing? Would it be better if each Accounting Fund had it's own Checking Account? Or do they actually have to?
Yes, we have 4 different funds, they all use the same checking account. There is no confusion when it comes to reconciling the checking account, nor in the reports.
Re: 1 Checking Account, 2 Accounting Funds?
Posted: Wed Sep 05, 2012 7:57 pm
by Divine Word Lutheran
Thank you! We will give it a try.